The state Board of Regents voted Monday to comply with federal laws and recognize same-sex marriages for participants in a University System of Georgia retirement plan.
The vote amends the definition of spouse in the system’s Optional Retirement Plan, and it allows same-sex spouses to receive the same federal tax benefits as those in heterosexual marriages. The required change follows Internal Revenue Service guidelines for some qualified retirement plans issued after a Supreme Court decision last year overturned the Defense of Marriage Act, limiting marriage to being between a man and a woman.
The IRS retirement plan rules apply to people who were married in states where same-sex marriage is recognized, regardless of whether a person currently lives in a state, such as Georgia, where same-sex marriage is not recognized, said Marion Fedrick, the University System’s vice chancellor of human resources.
The plan change will not have an impact on the system’s finances, Fedrick said, and it is unclear how many participants will be affected under the amended guidelines.
Monday’s vote and plan amendment do not apply to other University System benefits, including health care coverage, Fedrick said.
To see the full story, go to http://www.myajc.com/news/news/state-regional-govt-politics/georgia-regents-recognize-same-sex-marriage-for-re/ngWy6/#77c031a9.257115.735414.
About the Author
Keep Reading
The Latest
Featured
