ERS GSEPS (Tier 3)


GSEPS: Georgia State Employees’ Pension & Savings Plan (Tier 3)


ERS members hired on and after January 1, 2009 will be automatically enrolled in the GSEPS Plan (Tier 3). Employees hired prior to January 1, 2009 maintain their membership in either the ERS New (Tier 2) or Old (Tier 1) plan. 

GSEPS Enrollment Information Notice

What is GSEPS?

GSEPS, or Tier 3, is a combination Defined Benefit (pension) and Peach State Reserves (PSR) 401(k) savings plan with an escalating employer match.


GSEPS is a combination of a defined benefit, or pension plan, with an employer matching defined contribution (401k) plan. Contributions are as follows:

Pension 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.

PSR 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.

Your Contribution Employer Match
1.0% 1.0%
2.0% 2.0%
3.0% 3.0%
4.0% 4.0%
5.0% 5.0%
  • You may change your 401(k) contribution rate at any time.
  • The employer match portion of your 401(k) balance is subject to a 5-year vesting schedule. You vest 20% of the employer match for each completed year of service in a GSEPS-eligible position.

PSR 401(k) Plan

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

  • Your state employer will match your contribution dollar per dollar, up to 5% of pay. Members saving 5% or more receive a full 5% match. 
  • GSEPS members with at least six years of service, and who are contributing at least 5%, will get an additional half percent Employer match for every full year of service in excess of five years, up to a maximum match of 9% at 13 years of service.
  • The employer match portion of the member’s 401(k) balance is subject to a 5-year vesting schedule. A member vests 20% of the employer match for each completed year of service in a GSEPS-eligible position.

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

In 2022 legislation passed to increase the employer match and provide an escalating benefit with more years of service.

Retirement Eligibility 

There are three different types of Service Retirement in the ERS pension plan:

Normal Retirement

  • At least age 60 and a minimum of 10 years of creditable service
  • At least 30 years of creditable service

Certain Law Enforcement Positions:

  • At least age 55 
  • 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.

Terminated members are responsible for applying for retirement and should contact ERSGA within 90 days of their 60th birthday for more details. 

Visit the WRAP page on our website for more information about applying for retirement.

Retirement Amount

Pension Plan

Retirement Benefit Calculation Formula

To calculate the Maximum Plan Benefit for a normal retirement, the GSEPS Plan uses the following formula:

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

Please see the ERS Handbook for calculation examples. You may also log in to your ERSGA secure account to run a benefit estimate at any time.

PSR 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
  • Continue to invest in your 401(k) until you need it at a later date

Pension and fully-matched 401(k) Plans Combined

30 years of service = approximately 59% of salary* (annuitized). With pension, 401(k), and Social Security benefits, total benefits could provide 90% or more of final salary.

*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.

Are you saving enough for retirement?
Save more through Peach State Reserves (PSR)

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.


Supplemental Guaranteed Lifetime Income (SGLI)

ERS Retirees can Convert Peach State Reserves funds to Guaranteed Monthly Income

Supplemental Guaranteed Lifetime Income (SGLI)

ERS retirees can now use funds in Peach State Reserves to purchase a supplemental annuity from ERS. The SGLI is a program that can be used to provide additional financial security during retirement through lifetime monthly benefit payments.

For more information, please visit the SGLI main page.


Board of Trustees

The ERS Board of Trustees consists of 7 members who are appointed or elected for a term of four years.

Click below for board members, contact information, and meeting details.


ERS History and Background

The Employees’ Retirement System (ERS) was established and began administering retirement benefits for State of Georgia employees on January 1, 1950, as provided by laws enacted through the Georgia General Assembly.