Georgia Defined Contribution Plan
Members of GDCP are temporary, seasonal, and part-time employees of the State of Georgia who are not eligible for membership in the Employees’ Retirement System (ERS) or the Teachers Retirement System (TRS). Individuals employed by a State agency, department, bureau, institution, board or commission, the State Board of Education, and the Board of Regents of the University System of Georgia are covered by this plan.
Excluded from this plan are the following:
- persons qualified as bona fide independent contractors
- active members of ERS or TRS
- retirees of ERS or TRS
- persons working for an institution in which that person is regularly enrolled and attending classes and meets IRS student exclusion criteria
Special Note: Members of the GDCP are only covered for Medicare through your employer. There is no Social Security coverage.
Georgia Defined Contribution Plan – FY 2022 Interest Crediting Rate
During the monthly meeting on April 15, 2021, 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 2022.
The Investment Committee approved a rate of 0.00% for FY 2022.
- FY2021: 0.00%
- FY2020: 1.20%
- FY2019: 0.60%
- FY2018: 0.60%
- FY2017: 0.50%