Printable Form 1042 Fulton Georgia 2024-2025

Printable Form 1042 Fulton Georgia: What You Should Know

DETAILS: Send to: Revenue Division, Withholding Unit (WITHHOLDING TUITION) 1060 New Market Hwy NW Atlanta, GA 30341  Fulton County Schools Employees' Pensions Fund, Atlanta, GA (Form 1040) Fulton County School Employees' Pension Plan The Corporation was formed for the purpose to administer a pension plan which provides to County Employees or their dependents as of July 1, 1994, who were employed or who were in receipt of a County-paid annuity before July 1, 1995, the right to receive a portion of their pay as a pension, based upon their contributions to the plan and earned while employed. Pension Amount: 30,633.55 annually, with maximum annual increase. Pension Plan Designation: A) Former Government Employees ; B) Former Peace Officers and Peace Officers with the Georgia Peace Officers' Training Commission, who were employed in Georgia before July 1, 1994,  And C) Other Employees or Dependents, who were employed or in receipt of a County-paid annuity before July 1, 1995. Note: The terms “Former Government Employee” and “Former Peace Officer” do not mean those who were not employed while on active duty with a state or local government. Former Pension Plan Participants If the number of former pensioners receiving a pension of 30,633.55 or more in a given year is less than 25% of the total pensionable employees, the Commissioner shall allocate that amount among former pensioners based upon the most current data. Former Pensioners' Benefit Amounts: If the total benefits paid to current retirees or annuitants exceeds the amount for former pensioners, the excess amount shall be carried forward and divided equally among all former pensioners eligible to receive benefits based upon the benefits paid to all current retirees or annuitants of the plan. Amounts Carry Forward: If the former pensioners whose benefits are carried forward exceed the total benefits paid to all current retirees or annuitants of the plan, the excess shall be carried forward for 20 years, from the date the excess was realized.

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