Updated October 30, 2026. Quick answer: A Georgia Firefighters’ Pension Fund member chooses full benefits with no survivor, Option A (joint and survivor, paying the spouse 50%, 66 2/3%, 75% or 100%) or Option B (ten years certain and life). The documents read describe no lump sum or DROP. The election can be changed until the board approves the application, which should reach the Fund 60 days before the start date. A member who leaves before 15-year vesting can take a refund of dues less 5%, paid without interest. The valuation puts the benefit rate at $1,042 a month for 25 years of service.
What this page covers and what each source is
This page covers service retirement from the Georgia Firefighters’ Pension Fund (GFPF), a statewide fund with its own board of trustees for firefighters and volunteer firefighters. It does not cover disability benefits. The documents read on October 30, 2026 are not equal in kind.
- Retiree Package (12 pages, forms marked REV. 04/26): an application package with forms and short option descriptions, not a member handbook; no handbook turned up.
- Georgia Code sections as hosted by the Fund: O.C.G.A. 47-7-100 (eligibility, options), 47-7-103 (death benefits) and 47-7-105 (refunds). This is statute text, not a plan summary.
- Board of trustees rules 513-7-1-.12 (retirement) and 513-7-1-.16 (benefit increases), the Members FAQ page, and the actuarial valuation report prepared as of June 30, 2025, whose summary of provisions describes the plan as the actuary valued it.
As of June 30, 2025 the valuation says “The valuation included 14,533 active members”, and notes “there are 487 terminated members entitled to deferred vested benefits and 3,117 inactive members due a refund of their employee contributions”.
When a pension can start and how the amount is set
The retiree package puts the entry test this way: “you must be at least age 50 and have completed a minimum of 15 years of creditable service in the Pension Fund”. To receive benefits and continue working, it says “you must be at least age 55 and have earned a minimum of 25 years of creditable service in the Pension Fund”.
| Situation | What the sources say | Where |
|---|---|---|
| 25 or more years, age 55 | Maximum monthly retirement benefit in effect on the date the board approves the application | O.C.G.A. 47-7-100(b) |
| 15 to 25 years | Pro rata share by the ratio of years served to 25, payable at 55 or at termination, whichever is later | O.C.G.A. 47-7-100(c) |
| Retire at 50 to 54 | Reduced by 6% for each year before 55 (valuation); statute factors .70 at 50, .76 at 51, .82 at 52, .88 at 53, .94 at 54 | Valuation Schedule F; O.C.G.A. 47-7-100(f) |
| More than 25 years | 2% added for each full year of creditable service over 25; the total increase allowed | O.C.G.A. 47-7-100(e) |
| Benefit rate in the valuation | $1,042 a month, reduced by the ratio of credited service to 25 years when service is under 25 | Valuation Schedule F |
On amounts, the valuation’s summary of provisions says “A monthly retirement income increased 2% for each complete year of service over 25”. It also says “If credited service is less than 25, the $1,042 per month is reduced by the ratio of credited service divided by 25 years”. The rate is dated June 30, 2025, so a later adjustment could have changed what a new retiree receives. On early retirement it says “For retirement between ages 50 and 55, the benefit is reduced by 6% for each year which early retirement precedes age 55”.
Three computed examples, from assumed inputs and not GFPF figures, using the valuation’s $1,042 rate. An assumed 20 years of service at the 25-year rate: $1,042 multiplied by 20 and divided by 25 is $833.60 a month. A member with 25 years who retires an assumed 3 years before 55: 6 percent for each of 3 years is an 18 percent reduction, which leaves $854.44 (computed) a month, matching the statute’s .82 factor at age 52. An assumed 28 years: 2 percent for each of 3 full years over 25 is a 6 percent increase, or $1,104.52 (computed) a month.
The election: full benefits, Option A or Option B
The retiree package describes three choices, and the board’s rule lists the same three.
| Option | What the member receives | What a survivor receives |
|---|---|---|
| Regular (full benefits) | Full benefit until death, based on age and creditable service | No monthly survivor benefit; a named beneficiary receives the final pension payment (board rule). A $10,000 death benefit may remain payable (see below) |
| Option A, joint and survivor | A reduced benefit based on the member’s age, service and the spouse’s age | The spouse receives 50%, 66 2/3%, 75% or 100% of the member’s benefit for life, as the member chooses |
| Option B, ten years certain and life | A reduced benefit for the member’s life | If the member dies within ten years of retirement, the same monthly benefit goes to the selected beneficiary for the rest of the ten years |
On the regular choice, the package says “The retiree will receive full benefit payment (based on age and number of years of creditable service with the Pension fund) until their death”. The rule adds that “a named beneficiary is required to receive the final pension payment after the retiree’s death”.
On Option A, the package says “The retiree will receive a reduced benefit payment based on their age, years of creditable service, and the age of their spouse”. It adds: “This option is available only to individuals who are married at the time of their retirement”. The rule says the “beneficiary must be a legal spouse”, and both the rule and the package require proof of the spouse’s age and of marriage. The package observes: “The most common chosen Joint and Survivor Benefit Option Election is 100%”.
On Option B, the package says “The retiree will receive a reduced benefit payment and will draw this payment until their death”, and gives an example: “if a retiree lives 6 years into retirement and then dies, the next surviving beneficiary named in the sequential order will receive benefits for the remaining 4 years”. The statute adds that “in the event of the member’s death within ten years after the member’s retirement, the same monthly benefits shall be payable to the member’s selected beneficiary”. The rule says that for Option B the “beneficiary may be a spouse or any non- spousal relationship, but must be an individual”.
The reduction is not printed. The statute says the optional benefit “shall be the actuarial equivalent of the amount of the benefit that would otherwise be payable to the member”. No percentage table for either option appears in the pages read, so the Fund’s assessment report is the only source for the reduced amount. The general trade-off is covered at single-life versus joint-and-survivor pension.
A computed example from an assumed $900 reduced monthly benefit, not a GFPF figure: a 50 percent survivor share is $450 a month, 66 2/3 percent is $600, 75 percent is $675 (computed) and 100 percent is the full $900. For Option B, using the package’s example of a retiree who dies 6 years in, an assumed $900 monthly benefit paid for the remaining 4 years of the guarantee comes to $43,200 (900 multiplied by 12 months multiplied by 4 years) paid to the beneficiaries in order.
What is irrevocable, and the deadlines
The statute lets a member change course freely only until the board acts: “At any time prior to approval by the board of an application for retirement, a member may elect or may revoke a previous election and make a new election”. The package’s form has the member revoke earlier elections and states that the election may be revoked or modified in accordance with the Fund’s laws and regulations.
After approval, the statute opens only narrow doors, all for Option A and all by written request on board forms subject to board approval. If the spouse dies first, the member may revoke Option A, and the revised benefit is paid “but not for any period prior to such approval”. The same door opens on a final judgment of divorce, and a member who remarries after either event may elect Option A for the new spouse. The pages read give no similar after-approval exit from Option B or the regular choice, so treat the choice as final once the board approves.
A beneficiary change is its own step. The board’s rule says “no change is effective until said completed form is received by the Fund”. On timing, the package says applications “should be received not later than sixty (60) days prior to the date you wish to commence receiving benefits”, and the board’s rule says “Such form shall be submitted 60 days in advance of the planned retirement date”. The package adds that a late application starts benefits on the date it is received.
No lump sum, partial lump sum or DROP in these documents
The documents read describe no lump-sum retirement option, no partial lump sum, no deferred retirement option plan (DROP) and no rollover at retirement. What they provide is a monthly payment. The only lump sums the pages read describe are the refund of contributions and the death benefit covered below. Without a lump sum at retirement, the usual comparison in pension lump sum versus monthly annuity break-even does not arise at retirement for this Fund. The real choices are the survivor option and the start date.
Leaving before retirement: refund or leave the benefit
The refund statute is short: “Upon proper application and approval of the board, any member who withdraws from the fund shall be paid all the moneys such individual contributed to the fund, less 5 percent”. It adds: “Any refunds granted under this Code section or any other provision of this chapter shall be without interest”. The Fund’s FAQ ties the refund to vesting: “If you permanently separate from the Fire Service prior to 15 year vesting, your dues are refundable, less a 5% administrative charge”. For dues, the FAQ says “The dues increased to $25 per month from $15 per month effective July 1, 2013”.
The alternative to a refund is a deferred pension. The valuation’s vesting entry says “After completion of 15 years of service, a participant is 100% vested”, with a vesting benefit described as “The accrued benefit deferred to a minimum age 50”. Under the statute, a deferred benefit is payable at 55 or at termination of service, whichever is later, with the early option from 50 described above.
A computed example from assumed inputs, not a GFPF figure: a member who paid dues of $25 a month for an assumed 10 years has paid $3,000 in dues (25 multiplied by 12 months multiplied by 10 years). A refund of that amount less 5 percent is $2,850, and the Fund keeps $150, with no interest added. The real amount depends on the dues actually paid, which were lower before July 1, 2013, so the Fund’s own figure decides.
The general framework is at pension refund versus leaving it. The pages read do not state a refund application deadline or a spousal consent rule for a refund.
Death benefits before and after retirement
The death-benefit statute pays a flat amount. For an active member who has not started benefits, it says “up to five selected beneficiaries of such deceased member shall be entitled to be paid the amount of $10,000.00 split equally among the selected beneficiaries”. For a retired member who elected neither option, the statute gives selected beneficiaries the part of that sum not yet paid in benefits.
For a member with 15 years of creditable service who dies before applying for retirement: if no option was elected and a spouse survives, the statute says the spouse receives a benefit as if the member had elected 100 percent of the member’s benefits under Option A. If there is no surviving spouse, up to five selected beneficiaries share a benefit as if the member had elected Option B. A member can instead elect spouse protection in advance, and the statute says it “shall not be payable unless, prior to the member’s death, the member had elected such benefits in the form and manner prescribed by the board and had filed such election with the board”. More on how survivor rules differ across systems is at survivor benefit with a government pension.
Working after retirement and cost-of-living adjustments
On working after retirement, the board’s rule says “Benefits may not commence until the member is no longer employed by a fire department nor engaged in a compensated capacity that would qualify him/her for membership in the Fund”. If a retired firefighter returns to a fire department, the rule says “Benefits shall be suspended for the period of re-employment”.
The FAQ says “We, however, are one of the few plans that do adjust the benefit for COLA’s when it is deemed prudent to do so”. The valuation reports the most recent ones: “two Cost-of-Living Adjustments (COLA) of 1.5% were granted to retired members and beneficiaries and to the benefit rate of future retirees effective as of January 1, 2025 and July 1, 2025”. The board’s rule applies increases to option benefits as well: “the percentage increase shall be applied to the maximum monthly retirement benefit to which such option was or is thereafter applied”. The pages read do not spell out how that increase then flows into a reduced Option A or Option B payment, so a retiree on an option should ask the Fund how an adjustment applies.
What the IRS adds on tax
A refund or lump sum from a public pension is a distribution, so the IRS rules apply on top of GFPF’s own. On withholding, the IRS says that a taxable eligible rollover distribution paid to you “is subject to mandatory income tax withholding (generally at a rate of 20%), even if you intend to roll it over later”, and that if you roll it over yourself “you’ll have to add funds from other sources equal to the amount withheld”. The pages read describe no lump sum at retirement, so this section matters mainly for a refund of dues. The rollover clock, if the money is paid to you: “you have 60 days from the date you receive it to roll it over to another eligible retirement plan”.
On early distributions the IRS says “the law imposes a 10% additional tax on certain early distributions from certain retirement plans”. Its list of exceptions includes “Distributions made to you after you separated from service with your employer after attainment of age 55” and “Distributions made to a qualified public safety employee from a governmental plan”. Whether an exception fits a particular refund depends on your own plan and facts, so confirm it with a tax preparer before you take one.
Where the sources disagree
First, working while drawing a pension. The package says benefits can be received while working at 55 with 25 years, but the board’s rule says benefits may not commence while the member is employed by a fire department or compensated in a capacity that would qualify for membership, with exceptions for uncompensated volunteering and reimbursed expenses. The rule as read does not mention the 55-and-25 exception, so confirm with the Fund which text applies.
Second, who can take a refund. The statute says any member who withdraws is paid, with no vesting condition, while the FAQ and the valuation tie the refund to leaving before 15-year vesting. The pages read do not say what a vested member who asks for a refund receives.
Third, the dollar amount. The statute as hosted says the monthly retirement benefit for a retirement on or after July 1, 1990 “shall be $570.00”, while the valuation’s rate is $1,042, built from the $570 plus later increases. The valuation is the more current source, and neither replaces the Fund’s assessment report.
What this page could not settle
- The pages read do not give the actual reduction for Option A at any survivor percentage or for Option B; the statute says only that the options are actuarial equivalents.
- The pages read do not describe a lump sum, a DROP or a rollover at retirement.
- The pages read do not describe a way to buy service credit, including any purchase of refunded service or military service.
- The pages read do not state a refund application deadline or a spousal consent rule for a refund, and do not say what a vested member receives if the member asks for a refund.
- No member handbook was found. The Retiree Package is an application package, so its option descriptions are short.
- The valuation’s summary is the actuary’s description as of June 30, 2025; the benefit rate may have changed since.
- Disability benefits and the board’s other rules were not examined.
Common mistakes
- Treating the Option A choice as open after the board approves the application; the statute names only narrow exits, such as the spouse dying first or a divorce.
- Assuming a lump sum or DROP exists; the documents read describe a monthly pension and a dues refund, nothing else.
- Naming a non-spouse as the Option A beneficiary; the board’s rule says the Option A beneficiary must be a legal spouse.
- Taking a refund without comparing it to a deferred pension: the refund is dues less 5% with no interest.
Related on this site: public pension retirement decisions by system, single-life versus joint-and-survivor pension, survivor benefit with a government pension, pension refund versus leaving it and 20% withholding on a pension lump sum.
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Answer againSources
- Georgia Firefighters’ Pension Fund, Retiree Package: Important Notice for Pension Benefit Applicants, Application for Pension Benefits, Election of Benefit Option and Beneficiary Designation (12 pages, forms marked REV. 04/26): https://gfpf.org/wp-content/uploads/Retiree_Package.pdf
- State of Georgia, O.C.G.A. Section 47-7-100, Eligibility for full pension benefits, optional pension benefits, vesting and early retirement provisions (statute text hosted on gfpf.org): https://gfpf.org/wp-content/uploads/47-7-100.pdf
- State of Georgia, O.C.G.A. Section 47-7-105, Refund of contributions upon withdrawal from the fund (statute text hosted on gfpf.org): https://gfpf.org/wp-content/uploads/47-7-105.pdf
- State of Georgia, O.C.G.A. Section 47-7-103, Benefits payable to a named beneficiary upon death (statute text hosted on gfpf.org): https://gfpf.org/wp-content/uploads/47-7-103.pdf
- Georgia Firefighters’ Pension Fund, Actuarial Valuation Report prepared as of June 30, 2025: https://gfpf.org/wp-content/uploads/6-30-2025-GFPF-Valuation-FINAL.pdf
- Georgia Firefighters’ Pension Fund, Pension Questions, Members FAQ (gfpf.org web page): https://gfpf.org/members-faq/
- Georgia Firefighters’ Pension Fund Board of Trustees, Ga. Comp. R. & Regs. 513-7-1-.12, Retirement: https://gfpf.org/wp-content/uploads/Rule_513-7-1-.12_Retirement-1.pdf
- Georgia Firefighters’ Pension Fund Board of Trustees, Ga. Comp. R. & Regs. 513-7-1-.16, Increases in Monthly Retirement and Disability Benefits: https://gfpf.org/wp-content/uploads/Rule_513-7-1-.16_Increases_in_Monthly_Retirement_and_Disability_Benefits.pdf
- IRS, Topic no. 413, Rollovers from retirement plans (irs.gov): https://www.irs.gov/taxtopics/tc413
- IRS, Topic no. 558, Additional tax on early distributions from retirement plans other than IRAs (irs.gov): https://www.irs.gov/taxtopics/tc558
Sources: the primary documents linked above, read on October 30, 2026. General information from each system’s own published materials, not legal, tax or financial advice. Your own member statement and the system’s current rules decide your benefit, and a pension counsellor at the system or a fee-only adviser is the right place to confirm anything consequential.