Retirees: Important News about Your Direct Deposit
Certain ERS and LRS retirees and beneficiaries were granted a one-time COLA payment effective July 1, 2016. If you receive your monthly pension by direct deposit to your bank account, you will receive two pension payments this month: your COLA payment was sent by direct deposit on Wednesday, July 27 and your regular July pension payment is scheduled for direct deposit on Friday, July 29.
For more information on the FY2017 COLA, including who is eligible for it and how much you will receive, you can read our full article here.
Georgia Defined Contribution Plan - FY 2017 Interest Crediting Rate
During the monthly meeting on April 21, 2016, the Investment Committee of the Employees’ Retirement System (ERS) Board of Trustees considered the Interest Crediting Rate for the Georgia Defined Contribution Plan (GDCP) for FY 2017.
After staff presentation and discussion, the Investment Committee approved a rate of 0.50% for FY 2017. This represents the first above-zero interest rate for the GDCP since FY 2009.
The FY 2017 interest rate will be applied at a monthly rate of 0.04167% beginning July 1, 2016, and continuing through June 30, 2017.
Integrated Retirement Statements for ERS Members
ERSGA is excited to announce the upcoming delivery of ERS integrated retirement statements. This is the first time the ERS pension benefit will be combined with Peach State Reserves (PSR) balances to estimate monthly retirement income for a member. If you have a PSR balance, Social Security will also be included in your estimate. These statements are designed to help you determine what action is needed, if any, to reach your retirement goals.
The statements are being mailed the week of March 1st to home addresses for New Plan and GSEPS members who made a contribution to the pension plan in December 2015. If you are already in the process of retiring, you will not receive a statement.
The statements will be available online beginning March 7th. If you have already registered at ERSGA, you can view your statement by clicking the account access button on the right side of this page. Once logged in, your statement can be found under the Personal Correspondence section of the secure site.
If you haven't already registered for ERSGA account access, you will be required to provide a valid email address and review/designate beneficiary(ies) upon registration and prior to using the secure site.
For more information about the integrated statements, please read our FAQ.
The 2016 Alternative Investments Annual Update has been released. Please click here to view/download.
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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