Employer News
Employer News
This page contains all news items previously on the Employer front page, and any new news items.
ERS Personal Statement of Retirement Benefits
March 2024
Please be advised that ERS Members will receive their Personal
Statement of Retirement Benefits in early March.
The statement includes:
Pension Spiking
What it is, and why it can result in additional costs to ERS Employers
Have any of your vested employees recently received a pay increase greater than 5%? If those employees retire within 12 months of receiving the increase, the employer will be responsible for the cost of the additional pension in excess of a 5% pay increase, or the increase will not be included in the employee’s pension calculation at all, depending on their date of hire. This is known as the Pension Spiking rule.
ERS/TRS Process and Rules
03/14/2022
The ERS/TRS election process for vested Members has been in practice for a while, but has not been administered consistently. In an effort to make sure we are all aware of the procedures, rules and timing, we analyzed what was in place, enhanced it where necessary and documented it. The rest of this document is the result of that project. Please follow this process going forward.
Employer Costing for ERS Rehired Retiree FAQ
SB176 Employer Cost
11/2020
1. What are the employer costs dictated by SB176 based on?
GA Senate Bill 176 introduced an employer cost associated with ERS retirees’ return to state employment. The costs are based on the retirees’ contribution group at retirement and the contribution rate and salary earned during the period the retiree is back at work.
2. When are the employer costs for SB176 effective?
The employer costs introduced by SB176 are effective on and after 01/01/2021.
Detailed Summary of SB 26
GDCP Service Purchase in ERS
SB 26 allows for purchase of prior full-time temporary creditable service with GDCP for ERS members provided they were members of GDCP immediately prior to becoming members of ERS and so long as it is in accordance with 47-2-101 (47-2-99).
GASB, GaBreeze, and GSEPS Notice Updates
GASB
Governmental Accounting Standards Board (GASB) documents GASB 68 and GASB 75 are posted on the Employer Reporting Desktop in Web Correspondence. They can also be found on the GASB page of the Employer section.
Personal Statement of Retirement Benefits for ERS Members
Employees’ Retirement System of Georgia (ERSGA) is pleased to
announce the delivery of ERS (New Plan, GSEPS) Personal
Statements of Retirement Benefits.
For members with a Peach State Reserves (PSR) balance, the ERS
pension benefit is combined with PSR balances to estimate the
member’s monthly retirement income. Members with a PSR balance
will also have Social Security included in the estimate. These
statements are designed to help the member determine what action
is needed, if any, to reach their retirement goals.
It’s Your Data – Secure and Protect It
Data security is defined as “protective digital privacy measures that are applied to prevent unauthorized access to computers, databases and websites”.
ERSGA invests an enormous amount of resources to protect your data. Firewalls, encryption, data masking, special software, and a myriad of other software, hardware and protocols are employed to guard against any attempted external or internal breach.
Retirement Online
Applying for ERS service retirement benefits is easier than ever!
Why should a Member apply for retirement online?
- It is available 24/7.
- Faster to complete and eliminates mail time.
- Convenient and easy to access from any where.
- Includes more information in one place and reduces the number of questions.
- Easy to use and navigate!
What are the advantages?
Employer Contribution Rates
New Employer Contribution Rates were decided at the Annual Board Meeting in April, 2021. Rates have been updated on the Employer Forms and Information page of our website under General Forms and Publications, where you can also view contribution rate history.
Rehired Retirees
Any employer (as defined in O.C.G.A § 47 2-1(17) and O.C.G.A § 47 2-112(a)) that employs a retired plan member must notify the Employees’ Retirement System of Georgia (ERSGA) in writing within 30 days of the employee’s acceptance of employment. If the retired plan member performs more than 1,040 hours in any calendar year, the employer must also notify the board of trustees as soon as such information is available. Any employer that fails to notify ERSGA as required must reimburse the retirement system for any overpaid pension benefits.