Retirees - Holiday Pension Payments
As a reminder, ERSGA makes monthly pension payments on the last business day of each month. For 2015, the November pension payment will be made on Monday, November 30 (after the Thanksgiving holiday), and the December pension payment will be made on Thursday, December 31. While ERSGA makes every effort to get funds to your financial institution on these days, it is up to your individual financial institution to post the funds to your account and make them available to you.
GASB Plan 68 Statements Now Available!
The new GASB 68 Statements for Employees’ Retirement System (ERS), Georgia Judicial Retirement System (GJRS), and Public Schools Employees Retirement System (PSERS) have been published and are available for 2015 financial reporting. These new statements provide each employer’s proportionate share of the plan’s net pension liability. In addition, the statements provide employers with a calculated pension expense and deferred inflows and outflows of resources as of June 30, 2015.
In addition to the 2015 GASB 68 statements for the plans above, ERSGA has also provided individual employer reports that include the GASB 68 required disclosures, supplementary information and journal entries, as applicable. The individual packets were sent via email to agency heads and fiscal leaders during the week of July 13-17, 2015. Please contact your agency head or chief fiscal officer if you need this information for the preparation of your agency or county financial reports.
2016 Cost of Living Adjustment (COLA) Information
During the annual board meetings held on April 16 2015, all boards voted against granting a COLA for Fiscal Year 2016 to retirees of ERS, PSERS, and LRS. The Board made the decision after reviewing the current and future financial status of the plans. The JRS Board will consider a COLA at an upcoming meeting.
The Committee charged with developing guidelines and procedures to assist the Board in future decisions regarding COLAs for ERS reported their findings to the Board. Please click here to read the Committee’s recommendations.
Members - Learn more about your Retirement Plan
We have added a member education link to the left-hand navigation of our website to provide you with the ability to quickly find information about your retirement plan. This section includes quick links to all available presentations, ERSGA event and seminar calendars, as well as all of our forms and publications. Please be sure to check out this valuable resource.
Account Access - Your Retirement Plan Information Online!
The mission of ERSGA is to be the guardian of the retirement systems it administers for the ultimate benefit of the members, retirees and beneficiaries of those systems. This mission is accomplished through ERS’s core responsibilities which include pension administration; the collection, reconciliation and disbursement of contributions for the welfare of the members, retirees and beneficiaries of the plans; and the sound and secure investment of the retirement funds. For more information on ERS’ mission statement, click here.
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If you are having trouble accessing parts of the new website, please contact us at 404-350-6300 or Toll Free at 1-800-805-4609. You can also email us with feedback or suggestions.