ERS retiree newsletter, 2012/Winter

Employees' Retirement System of Georgia

Winter 2012
RETIREE Newsletter

1099s for 2012 will be mailed no later than the last business day of January, 2013.

In this Issue:

Important Information

Month of Death Payment Change

2

Rehired Retiree Reminder

2

PSR 401(k) Changes

2

Updating your Beneficiaries

3

New Health and Dental Rates

3

Tax Rate Changes

3

2013 Benefit Payments/Direct Deposit 4

ERSGA Retiree Self-Service

5

Meet the People at ERSGA 6 - 9

Serving those who serve Georgia

E RSGA
Employees' Retirement System of Georgia

RETIREE Newsletter

Important Information

Month of Death Payment Change

Rehired Retiree Reminder

We have recently made changes relating to retiree month of death payments. As a retiree (or beneficiary of a retiree) receiving a monthly pension benefit, upon your death your final month's payment is due to YOU, not to your beneficiary.
If the final monthly payment is direct deposited to your bank account, we consider that all monthly payments due to you have been paid. If your final monthly payment is not deposited into your bank account, the check will be payable to your Estate. If you do not have an Estate and if the final payment is less than $10,000, we will make your final payment to your living spouse, children, parents, or siblings (in that order).
Please make sure your beneficiaries are aware that your final monthly benefit is payable to YOU (or to your Estate), and not to your beneficiaries.

Georgia law restricts retirees of the Employees' Retirement System (ERS), the Judicial Retirement System (JRS), and the Legislative Retirement System (LRS) from returning to service for a covered employer for more than 1,040 hours per calendar year.
Exceptions include retirees of LRS returning to the General Assembly, and contractors who meet the Independent contractor exemption as certified by their respective employer as specified below:
The contracting entity has multiple employees
The contracting entity has multiple contracts and the contracts are not limited to employers as defined in O.C.G.A. 47-2-1; and
The contractual relationship with the employer was not created to allow a retired employee to continue employment after retirement in a position similar to the one held before retirement
Please make note of the following:

Peach State Reserves 401(k)/457 Investment Option Changes
The Stable Value Fund in Peach State Reserves is now closed. In its place, we have added a Money Market Fund and two Target Maturity Bond Funds (maturing in 2015 and 2017). Over the next few years, we will add three more Target Maturity Bond Funds with the objective over time of maintaining a ladder of five different funds with maturity dates that are a year apart.

It is your responsibility as an employee or contractor to notify your employer that you receive pension benefits
Failure to notify your employer can result in overpaid pension benefits, for which you will be responsible for repayment
To meet the Independent Contractor Exception, your employer must complete the certification form and file it with your retirement plan
A new Rehired Retiree Form must be submitted to the retirement plan for each of your employers
Keep track of your time - 1,040 hours is equivalent to approximately 6 months of full-time work
Once you exceed the 1,040 hours, your benefits are suspended for the remainder of the calendar year
The 1,040 hours limit resets each calendar year in January

To learn more about Peach State Reserves, visit our website or call 1-877-342-7339.

2

RETIREE Newsletter
Updating your Retirement and Group Term Life Insurance (GTLI) Beneficiaries
Retirement
When you retired, you selected a form of pension. If you selected a monthly benefit that continues to your beneficiary after your death, there are only a few specific circumstances under which you may be able to change that beneficiary and have your new beneficiary receive a monthly pension upon your death.
At www.ers.ga.gov, use the navigation panel on the left side of the screen and select the pension plan under which you retired (ERS, PSERS, etc.). Then use the right navigation panel to choose "forms & publications". Under Publications you will find a Retirement Options Information Chart, which outlines the circumstances under which you may change your primary beneficiary, and if you can change your form of pension. The notes at the bottom of the page provide detail about special situations that allow you to make such changes.
This information is also available on the second page of our Retiree Change of Beneficiary Form. If you are not sure, call our office and one of our Customer Care Representatives will be happy to help you. If you are able to change your beneficiaries, you will need to send us your changes in writing. As a Retiree, you cannot change your beneficiary directly on our website ...but we're working on that!
GTLI If you are covered under GTLI, you can update or change your beneficiaries at any time. You will need to do this in writing.
Please complete the Retiree Change of Beneficiary form (found under your Plan in Forms and Publications on our website) and mail it to us.
As a Retiree, you cannot change your beneficiary directly on our website ...yet! (We're working on that!) If you are not sure who you elected as your beneficiary, you can view your selection online (account access) or contact us. It is important that we have your most current beneficiary information on file.
New Health and Dental Rates
New Health and Dental Insurance rates will be effective with your December 31, 2012 retirement benefit payment. December deductions are for your January coverage. These changes will impact your December payment net amount. Payment advices can be viewed on the ERSGA website or through your bank account records.
Tax Rate Changes
Every January, the Federal tax tables are updated to reflect new tax rates. These changes will impact your January payment net amount. Please access your payment advices on either the ERSGA website or through your bank account. GA tax rates have not changed for a number of years, and we have not received notification of a change for 2013.
3

RETIREE Newsletter

Schedule of 2013 Benefit Payments

Retirement benefits are payable on the last working business day of each month. If you use direct deposit, your benefit payments will be available on the scheduled dates shown below. If you receive benefit payments through the mail, your check will be mailed on the scheduled dates shown below.

January 31, 2013 February 28, 2013
March 29, 2013 April 30, 2013 May 31, 2013 June 28, 2013

July 31, 2013 August 30, 2013 September 30, 2013 October 31, 2013 November 27, 2013 December 31, 2013

If you would like to update or receive your benefit payments via Direct Deposit, you may:
Update your Direct Deposit information by logging on to our Secure site to make changes.
Click here to download an EFT form
Contact our office at (404) 350-6300 to request an EFT form be mailed to you.

Direct Deposit
Direct Deposit is an electronic transfer of your monthly benefit payment from the retirement system to your checking or savings account. Here are some advantages for using direct deposit:
It's convenient. You'll save valuable time by eliminating trips to your bank.
It's safe. Your benefit payment will not be left in an unsecured mailbox...it will not be lost, stolen or misplaced.
It's timely. You can be certain your payment will be in your account the last business day of the month, even when you're out of town or incapacitated.
It's cost effective. It saves thousands of your retirement fund dollars in printing and mailing costs.
It's environmentally friendly.
Your pay stubs are available to view online at www.ers.ga.gov.

4

RETIREE Newsletter
Understanding your monthly pension benefit payment ERSGA Retiree Self-Service
Did you know you can review and manage your account through our secure self-service website? On our secure site, https://secure.ers.ga.gov , you can:
View your payment information, including deductions for taxes and insurance View and update your tax information View or change your direct deposit information View your beneficiary information Update your personal contact information Register for access to the Retiree Self-service site today!
5

RETIREE Newsletter

Meet ERSGA

The ERSGA Leadership Team
Jim Potvin, Executive Director Jim Potvin was appointed as Executive Director of the Employees' Retirement System of Georgia (ERSGA) in February, 2012. He joined ERSGA in February, 2009, and served as Deputy Director for three years.
Jim spent 15 years in private industry working in retirement plan administration and consulting. He began as a pension administrator for Georgia-Pacific Corporation, before moving into a consulting role with Arthur Andersen LLP. He later joined Hewitt Associates, a global HR consulting firm, as the Location Manager for the RFM Pension Administration outsourcing group.
A native of Connecticut, Jim holds a B.A. in Mathematical Economics and Managerial Studies from Rice University, and an M.S. from Georgia State University. He is a member of the National Association of State Retirement Administrators.
Carlton Lenoir, Chief Financial Officer and Director of Financial Management Carlton joined ERSGA in November 2005. He served as the System Business Analyst for the Pension and Retirement Information System (PARIS) Project helping to bridge the gap between the functional teams and the consultant BearingPoint. After a successful system implementation in 2007, he was appointed as the Director of the Financial Management Group (FMG). As the FMG Director, he is responsible for employer services and pension payroll.
Prior to joining ERSGA, Carlton worked for 17 years in Illinois at the Public School Teachers' Pension and Retirement Fund of Chicago. During his time there he founded the Payroll Audit Division group responsible for managing Chicago Public School employer accounts and the annual active teacher accounts audit. He also served as the Fund's Internal Auditor and Benefits Director.
Carlton holds a B.S. in Business Administration from American InterContinental University and is a 2013 J.D. candidate at Atlanta's John Marshall Law School.

Susan Anderson, Chief Operations Officer and Director of Member Services Susan joined ERSGA in January, 2010, bringing with her almost 30 years of experience in pension plan consulting and administration. She began her career as an actuarial analyst at William M. Mercer LLC in Toronto, Canada and Edinburgh, Scotland, before becoming a Senior Consultant at W.F. Morneau & Associates in Toronto. In 1991, Susan moved into pension administration as an Operations Manager at the Hospitals of Ontario Pension Plan, a large, multi-employer public sector pension plan. In 2000, Susan returned to consulting as a Pension Manager at Hewitt Associates in The Woodlands, Texas and then here in Atlanta.
A native of Toronto, Ontario, Susan holds a Bachelor of Mathematics from the University of Waterloo and an M.B.A. from the University of Toronto. She is married and has three children.
Chris Hackett, Director of Information Technology
Nicole Paisant, Director of Human Resources
Angie Surface, Director of Peach State Reserves and Quality Assurance
Kelly Moody, Legislative Liaison and Communications Manager
Danise Thaxton, Executive Assistant to the Director
Mell Scarbrough, Director of Research and Training

Front row: Mell Scarbrough, Kelly Moody, Danise Thaxton, Susan Anderson, Nicole Paisant Back row: Carlton Lenoir, Angie Surface, Jim Potvin, Chris Hackett
6

RETIREE Newsletter
Customer Care Group
The Call Center team wanted to be different. They changed their name to the "Customer Care Group" (CCG) to reflect their true commitment to excellence and quality service delivery. CCG is a team of dedicated employees who are responsible for delivering accurate, detailed, and timely information to our members, retirees, beneficiaries, and employers. A vital part of our Member Services Division, CCG is typically the first point of contact for ERSGA. Each member of CCG is committed to providing the best customer experience possible, while answering inquiries ranging from form requests to the rules and regulations governing the various retirement plans. CCG is responsible for communicating clear and concise retirement plan information. They are courteous, helpful, accessible, responsive and knowledgeable. To promote a cohesive team environment, the CCG Spirit Committee celebrates "Synergy Wednesdays" with lunches and other special events. CCG takes pride in giving their all, as they proudly display their motto on team shirts: "Commitment that Goes Above, Care that goes Beyond."
CCG at a Glance - 2012 Fiscal Year
Calls received: 89,145 Calls answered: 85,309 CCG handles 1,640 calls per week Abandonment rate < 4% All calls answered in an average of 60 seconds The team also makes out-bound calls, returning all voice mail messages CCG processes customer requests Calls are randomly monitored on a weekly basis to provide timely feedback and to ensure delivery of
the highest quality of Customer Service. New team members must successfully complete extensive training before "going live" on the phones.
CCG meets often to stay abreast of the rapid changes that occur within the state.
"Thank you for your warm manner and quick response to my
request"
Pictured from left to right: Natasha Harvey, Jannette Goodwin, Shantel Warren, Angela Sansbury, Lynita Smith, Latoya Rogers-Bradley, Dana Neilly
7

RETIREE Newsletter
Board of Trustees
ERSGA would like to take this opportunity to introduce our Board of Trustees and provide some background information on each. The ERS Board of Trustees consists of three ex-officio members, a Governor's appointee, an investment expert, and two members with at least five years of ERS membership.
Harold Reheis Board Chair and Investment Committee Member Term Expires: 6/30/2016
Mr. Reheis retired from the State of Georgia as the Director of the Environmental Protection Division of the Department of Natural Resources and has over 33 years of state service.
Frank F. Thach, Jr. Vice Chair and Investment Committee Member Term Expires: 6/30/2014
Mr. Thach retired from the State of Georgia as the Deputy Director of the Georgia State Financing and Investment Commission and has 40 years of state service.
Michael D. Kennedy Board Member and Investment Committee Member Term Expires: 6/30/2013
Mr. Kennedy specializes in commercial/investment banking, capital markets, and asset management searches, with broad private equity and corporate finance experience.
Steven N. McCoy Ex-officio Board member and Investment Committee Member Term Expires: Ex-officio
Mr. McCoy served as the Deputy State Treasurer and Chief Investment Officer from August 2010 to November 2011, at which time he was appointed State Treasurer by the State Depository Board. Mr. McCoy previously served on the Board as the State Treasurer from 1993-1997.
Lonice Barrett Board Member Term Expires: 6/30/2015
Mr. Barrett began his career in state government in August 1970 with the Georgia Recreation Commission. In November 1972, he transferred to the Department of Natural Resources and continued with this department until August 2004, at which time became the Director of Implementation for the Commission for a New Georgia, Office of Governor Sonny Perdue. He retired on December 1, 2006 and is currently Special Assistant to the Governor.
Sid Johnson Ex-officio Board Member Term Expires: Ex-officio
Mr. Johnson is Commissioner of the Department of Administrative Services and previously served as Administrator for the Governor's Office of Consumer Protection, Director of Stimulus Accountability and Director of Implementation for the Commission for a New Georgia.
8

RETIREE Newsletter
Board of Trustees
Greg Griffin Ex-officio Board Member and Investment Committee Member Term Expires: Ex-officio Mr. Griffin was appointed State Auditor by Governor Nathan Deal on July 1, 2012. Prior to his appointment, Mr. Griffin had held the position of State Accounting Officer for the State of Georgia since 2008. He has over 30 years of experience in accounting, auditing, and financial reporting.
Pictured from left to right: Lonice Barrett, Sid Johnson, Frank Thach, Harold Reheis, Greg Griffin, Steven McCoy Not pictured: Michael Kennedy
9