Georgia State Employees' Pension and Savings Plan


Georgia State Employees’ Pension & Savings Plan (GSEPS)


ERS members hired on and after January 1, 2009 will be automatically enrolled in the new GSEPS Plan. Employees hired prior to January 1, 2009 maintain their membership in either the ERS New or Old plan. 

GSEPS Enrollment Information Notice

What is GSEPS?

GSEPS is a combination Defined Benefit/ 401(k) plan.


GSEPS is a combination of a defined benefit (DB) and defined contribution (401K) plan.  Contributions are as follows:

DB Contributions

GSEPS members are required to contribute 1.25% of their earnable compensation to the plan.

  • All contributions are deposited to the member’s annuity savings plan. 
  • GSEPS members are not eligible for Group Term Life Insurance.

401(k) Contributions

Currently, new members are automatically enrolled at a 5% contribution rate, allowing for the maximum employer match to be contributed to the member’s account.  How much you contribute to your 401(k) determines how much your employer contributes on your behalf.

1% 1.0%
2% 1.5%
3% 2.0%
4% 2.5%
5% + 3.0%
  • You may increase or decrease your 401(k) contribution rate at any time.
  • The 401(k) employer contribution is subject to a 5-year vesting schedule, vesting 20% for each completed year of service in a GSEPS eligible position.

401(k) Plan

Provides State matching up to 3% with member contributing 5%, utilizing the Peach State Reserves 401(k) Plan.

  • Member contributes 1% of compensation and receives 1% salary match from State (100% match on the first 1% of compensation contributed) 
  • For each additional percent contributed by member (up to 4%), the State will match 50% of that amount (up to 2% of compensation) 
  • The 401(k) employer contribution is subject to a 5-year vesting schedule, vesting 20% for each completed year of service in a GSEPS-eligible position

DB/401(k) Plans combined

30 years = approximately 59% of salary** (annuitized). With Social Security benefits, total benefit could provide 90% or more of final salary.

Current employees who are ERS members as of December 31, 2008 may opt-in to GSEPS at any time on or after January 1, 2009. View the for more information.

*Assumes annual salary increase of 3.75% and retirement at age 60 with 30 years of service.
**Assumes annual employee 401(k) contribution of 5%, average annual 401(k) investment return of 6% over 30 years, annual salary increase of 3.75% and retirement at age 60 with 30 years of service.

During the 2008 Georgia Legislative Session, the legislature passed Senate Bill 328, which provides for a new retirement plan for state employees hired on and after January 1, 2009. 

Retirement Eligibility 

There are three different types of Service Retirement in ERS:

Normal Retirement

At least age 60 and a minimum of 10 years of creditable service (for certain Law Enforcement positions, age 55 and 10 years)

At least 30 years of creditable service

For certain Law Enforcement positions, at least age 55 and a minimum of 10 years of creditable service

Early Retirement

Under age 60

At least 25 years of creditable service but not yet 30 years of service

Retiree benefit is reduced at a rate of 7% for every year the retiree is under age 60 or every year the retiree has less than 30 years; ERS will use the lesser reduction to calculate the benefit.

Terminated Vested Retirement

A member terminating after attaining at least 10 years of service but prior to age 60, will be able to start drawing retirement benefits at age 60. A member may contact ERS within 90 days of his/her 60th birthday for more details.

Retirement Amount

DB Plan

Retirement Benefit Calculation Formula

To calculate the Maximum Plan Benefi t for a normal retirement, ERS New Plan uses the following formula:

Formula Salary x
1% Benefit Formula Factor x
Creditable Service =
Maximum Plan Benefit

Please see the ERS Handbook for calculation examples.

401(k) Plan

Your 401(k) benefit depends on the contributions you and your employer have made over the years, and the investment returns earned. At retirement you may:

  • start withdrawals from your 401(k), including setting up a monthly withdrawal,
  • choose a lump sum withdrawal or rollover, or
  • continue to invest your 401(k) until you need it at a later date

Starting at age 70.5, if you are retired from State employment, you must take Minimum Required Distributions from your 401(k).

DB/401(k) Plans Combined

Depending on contribution rate and investment returns, as well as age at retirement, a member with 30 years of GSEPS service can expect to replace 60% or more of their pre-retirement income.


Are you saving enough for retirement?

Are you saving enough for retirement?
Did you know to live comfortably during retirement, you will need 70% to 100% of your pre-retirement income? Even with other savings, pension(s), and Social Security, you may still need to consider enrolling in or increasing your contributions to PSR.

To understand your personal retirement needs, log in to GaBreeze, click the Savings & Retirement tab, then select Retirement Projections under the Peach State Reserves menu.