News

Overview

News

Check here for the latest news and updates from ERSGA.

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Georgia Governor’s Mansion

As a State of Georgia employee, retiree, or beneficiary, we encourage you to take advantage of this wonderful opportunity to explore the Governor’s Mansion and participate in its events. It’s a great way to spend quality time with friends and family while experiencing a piece of Georgia’s history!

State agencies are also welcome to take employees to tour the Governor’s Mansion for groups of 10 or more, advance registration is required. So, make sure you register your event in advance!

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Office Closure: Tuesday, May 13, 2025

The office is closed to visitors and phone calls (or telephone assistance) on Tuesday, May 13, as our staff participates in ERSGA 75th Anniversary activities.  Business will resume as normal on Wednesday. Thanks for your support!

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ERS Integrated Statements
March 2025

The ERS Personal Statement of Retirement Benefits are now available in your online ERSGA account!

Check out your personalized, easy-to-read statement!

Your data is presented in colorful and visually appealing charts and graphs, with valuable information to provide your at-a-glance retirement snapshot   

Tour annual statement is available online at the ERSGA and GaBreeze websites.

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Social Security Fairness Act: Repeals WEP and GPO
January 8, 2025


On January 5, 2025, President Biden signed the Social Security Fairness Act, which repeals two federal laws: 1) the Windfall Elimination Provision (WEP) and 2) the Government Pension Offset (GPO). The implementation of the Act will eliminate the reduction of Social Security benefits while entitled to public pensions from work not covered by Social Security. The Social Security Administration is evaluating how to implement and will provide more information as soon as available.

Changes to your Social Security benefit will not impact your ERSGA pension.

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Celebrating 75 years!

The Employees’ Retirement System of Georgia (ERSGA), established in 1950, proudly celebrates 75 years of service as a trusted partner in retirement readiness for Georgia’s workforce. ERSGA currently administers five distinct defined benefit pension plans, two life insurance plans, and three defined contribution plans, including the Peach State Reserves (PSR) 401(k) and 457 plans. Additionally, ERSGA serves as the Social Security Administrator for political subdivisions across Georgia.

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Celebrating 75 Years!

The Employees’ Retirement System of Georgia (ERSGA), established in 1950, proudly celebrates 75 years of service as a trusted partner in retirement readiness for Georgia’s workforce. ERSGA currently administers five distinct defined benefit pension plans, two life insurance plans, and three defined contribution plans, including the Peach State Reserves (PSR) 401(k) and 457 plans. Additionally, ERSGA serves as the Social Security Administrator for political subdivisions across Georgia.

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Important for Retirees! SHBP: Pension Deduction Changes

Who: Retirees over age 65 (Medicare eligible) who have a health insurance premium deducted from their December pension payment

What: Your State Health Benefit Plan (SHBP) deduction may be changing, or you may be receiving a new deduction to your net pension due to the SHBP Premium change

When: This will go into effect this December 2024

How: To see more on the exact amount review your payment history on your ERSGA secure online account 

ERSGA cannot answer SHBP questions or provide assistance on this deduction from your pension.
 

For SHBP Help:
Website: shbp.ga.gov
Call: 800.610.1863

  • First Press 1 for 2025 Benefits Questions
  • Then Press 1 again for Retiree
  • Press 5 to speak to a live representative
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Important Update: Box 5 on Your 1099-R Form

As tax season approaches, we want to inform you about a change to Box 5 on your 1099-R form. In the past, Box 5 showed insurance premiums. This year, it will display your non-taxable amount instead.

The non-taxable amount represents the contributions you made while working, which are not taxed when you retire.

Box 5 is for informational purposes only and is already included as the difference between the Gross Amount (Box 1) and the Taxable Amount (Box 2a).

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New 2025 IRS Contribution Limits
Save More Money for Retirement

New 2025 IRS Limits: January 1, 2025

The Internal Revenue Service (IRS) maximum contribution limits to your Peach State Reserves (PSR) 401(k) and 457 plans for 2024 will increase for 2025.

You can contribute the maximum amount to both a PSR 401(k) and 457 account. To increase your contributions, visit: GaBreeze.ga.gov

2025 Limits

  • Under Age 50: $23,500
  • Age 50-59: $31,000
  • Age 60-63: $34,750*
  • Over Age 63: $31,000

*New for 2025! Save more money for retirement with the SECURE 2.0 Act Super Catch-Up Contributions!

Consider boosting your retirement savings and catching up on contributions with the catch-up contributions option.

2024 Limits

  • Under Age 50: $23,000
  • Over Age 50: $30,500

Saving for Retirement

Even if you can’t contribute to the maximum amount, this is a great reminder to save as much as you can for your retirement. Open a retirement savings account or increase your contributions today! 

PSR participants, or those eligible for a PSR account, can increase contributions or open a 401(k) or 457 by visiting: GaBreeze.ga.gov.

For more information about contribution limits, including employer contribution limits, visit the IRS website: 401(k) and Profit-Sharing Plan Contribution Limits 

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1099-R Address Change Reminder

The deadline for retired members and beneficiaries to submit an address update to ERSGA for the 2024 1099-R mailing is December 20, 2024. Address updates cannot be made over the phone.

It is important to keep your address on file current. A 1099-R will not be mailed to you if your address on file is marked as invalid, and the US Postal Service does not forward 1099-Rs.

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ERS One-Time Payment Post-Retirement Benefit Adjustment
June 2024

ERS one-time payments for June 2024 have been processed.  Only active payees (retirees or beneficiaries) at the time the one-time payment was processed will receive this payment.* 

Those with direct deposit should see the deposit within three business days of the check date 06/28/2024. 

The one-time payment will be equal to 4.75% of the annual ERS benefit in pay as of June 2024, to a maximum payment of  $568.92.

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PSERS Benefit Multiplier Increase
Effective 7/1/2024

The benefit rate for members of the Public School Employees Retirement System (PSERS) has been raised for PSERS members, retirees, and beneficiaries to $17.00 per month per year of service.  

This increase is effective 7/1/2024 and will be reflected in the July 2024 pension payment.

To learn more about your PSERS retirement benefit, please visit the PSERS plan page.

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ERS Integrated Statements
March 2024

The ERS Personal Statement of Retirement Benefits are now available in your online ERSGA account!

Check out your personalized, easy-to-read statement!

Your data is presented in colorful and visually appealing charts and graphs, with valuable information to provide your at-a-glance retirement snapshot   

Tour annual statement is available online at the ERSGA and GaBreeze websites.

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Retirees: 2024 Georgia State Tax Withholding

Changes to State Tax Rates

You may see an increase in the net amount of your retirement benefit beginning with your January 31, 2024 payment.

Governor Kemp signed HB 1437 into law on April 26, 2022. This bill replaced the graduated personal income tax with a flat rate of 5.49% effective January 1, 2024. The rate will reduce each year until the flat rate reaches 4.99%.

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Peach State Reserves (PSR)
Member Advisory

Peach State Reserves (PSR) Fund Change

Please be advised that the PSR International Stock Index Fund will exclude investments in China beginning 3/1/2024. This fund is part of the PSR Lifecycle Fund lineup.

No action is required at this time.