Employees' Retirement System : for the ultimate benefit of the members, retirees, and beneficiaries

About ERS
The Employees' Retirement System of Georgia (ERSGA) administers separate and distinct cost-sharing, multiple pension plans for various employer agencies of the State of Georgia. The Employees' Re-
tirement System (ERS) pension plan that covers most State of Georgia employees is only one of the seven plans administered by the overall umbrella agency of ERSGA. The information in this brochure briefly outlines these defined ERS pension benefits.

Employees' Retirement System

Michael J. Nehf Executive Director
Two Northside 75 Suite 300 Atlanta, Georgia 30318-7778 Tel: 404-350-6300 metro area
1-800-805-4609 outside metro area www.ersga.org

. . . for the ultimate benefit of the members, retirees, and beneficiaries . . .
Tel: 404-350-6300 1-800-805-4609

ERS A brief synopsis of benefits

ERS provides generous and distinct bene-

fits to state employees whose job specifi-

cations provide membership in the plan.

These benefits can include a lifetime

benefit based on service, disability, or in

the case of death, a lifetime benefit to a

beneficiary. Qualifications for these bene-

There are two plans within the system that are referred to as the Old Plan and the New Plan. Generally, New Plan members are those who first began employment on or after July 1, 1982.

fits are determined (in most cases) by years of service, and/or age. ERS also provides vesting privileges and Group Term Life

Insurance (GTLI).

Funding for the system is provided by employee and employer contributions. These contributions are invested by an investment division that manages funds for ERS, Teachers Retirement System, and Peach State Reserves. Investments are strictly governed by state law. As a result, the system is in sound financial shape and has been listed as one of the top five pen- sion systems in the country. Pensions are paid from the proceeds of investments.

Vesting
ERS members are vested with ten years of creditable service. This may include time pur- chased that was previously refunded or pur- chased under specific legislation. It does not include forfeited leave. A vested member who leaves state service and does not withdraw funds may begin receiving a lifetime benefit at age 60 based on those vested years.
Service Retirement
The minimum requirements for service retire- ment are: Early service retirement may be taken under age 60 with 25 to 29 years/11 months of service with a penalty imposed. Regular retirement is either at age 60 with 10 or more years or at any age with 30 years.
Death Benefits
For members in service under age 60, a life- time benefit is payable to a living beneficiary beginning with 13 years and 4 months service. For members age 60 and over this benefit is available with 10 or more years of creditable service.
Disability Retirement
For members in service under age 60, eligibil- ity for disability retirement begins with 13

years and 4 months service. Employees age 60 and over are not eligible for a disability retirement allowance. (Service retirement is available to members beginning at age 60 with 10 years service.) The amount of benefit available increases as years of ser- vice increase.
Beneficiaries
At the beginning of employment, ERS members designate a primary and a con- tingent beneficiary on the Application for Membership. Change of Beneficiary forms may be obtained from your personnel of- fice or by calling the ERS office.
Group Term Life Insurance
As a member of ERS your GTLI is worth 18 times your gross monthly salary until ei- ther retirement or age 60, whichever is ear- lier. The amount then reduces to 70% and continues for life.
Educational Programs
ERS offers one and two-day financial and retirement planning seminars. For employ- ees within three months of retirement, a workshop is offered in the retirement ap- plication process.