News

Overview

News

Check here for the latest news and updates from ERSGA.

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SB 26 Allows ERS Members to Purchase Prior GDCP Service

Effective July 1, 2020, ERS members with at least 5 years of ERS service, who were also GDCP members immediately prior to beginning ERS Membership, may be eligible to transfer or purchase such GDCP service in ERS. This GDCP service will be valued at full actuarial cost to members’ ERS benefit, which can be higher than the contributions to GDCP.

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Coronavirus (COVID-19) Updates: 4/2/2020

Update 4/2/2020

CARES Act and Your PSR Account – COVID-19

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed as a response to the COVID-19 pandemic. The bill contains certain provisions affecting Peach State Reserves (PSR) 401(k) and 457 plans. Please log in to your account at GaBreeze for information and updates.

This bill will not affect the administration any of ERSGA’s pension plans.

Disruptions to Paper Checks

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Fraud Alert: Dating Documents in 2020

For this year, 2020, it is especially important to use the full year when writing dates to protect yourself from becoming a victim of fraud.

Abbreviating to the last two digits of the year can create a fraud opportunity, as the date could easily be changed by adding numbers to the end.

For example: 1/9/20 could become post-dated to 1/9/2019 or dated to be in the future to 1/9/2021.

Protect your information and write out the full year of 2020 on checks, forms, and other documentation.

 

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The 5 Ws & H of GSRA

Who:

An inspired group of long-time state employees gathered to form an advocacy group for those who dedicate their careers to state employment.

This group formed the Georgia State Retirees Association (GSRA) as an advocacy organization created by retired state employees for the benefit of state retirees. GSRA’s goal is to promote the education and welfare of Georgia State government retirees relative to their retirement and health care benefits.

What:

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Is Your Beneficiary Information Current?

As a member of one of ERSGA’s retirement plans, you’ve already taken an important first step in securing your financial security in retirement. But what about the financial security of your loved ones? Keeping your beneficiary information current ensures benefits from the retirement plans are paid in accordance with your wishes in the event of your death.

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Beneficiary Information for Retirees

Keeping your beneficiary information current ensures benefits from the retirement system are paid in accordance with your wishes in the event of your death. 

If you are not sure who you elected as your beneficiary(ies), you can view your selection online using the Log In button at the top of any page on our website, or by contacting us. It is important that we have your most current beneficiary information on file.

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Jim Potvin Elected President of NASRA
August 2019

The National Association of State Retirement Administrators (NASRA) has elected Jim Potvin, Executive Director of the Employees’ Retirement System of Georgia (ERSGA), as the new President for 2019-2020. Mr. Potvin joined ERSGA in February, 2009 as the Deputy Director, after 15 years in private industry working in retirement plan administration and consulting. He was appointed as the Executive Director in February, 2012.

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Post-Retirement Benefit Adjustment
February 2020 Payment

During the Annual Board meetings on April 18, 2019, the Boards of Trustees for the Employees’ Retirement System (ERS), the Legislative Retirement System (LRS), and the Judicial Retirement System (JRS) considered whether to grant post-retirement benefit adjustments to retirees and beneficiaries in fiscal year 2020.  Actions taken by the Boards for February 2020 are as follows:

ERS

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PSERS Benefit Multiplier Increase
Effective 7/1/2019

The benefit rate for members of the Public School Employees Retirement System (PSERS) has been raised for PSERS members, retirees, and beneficiaries with retirements on or after 8/1/2012, from $15.25 to $15.50 per month per year of service.  This increase is effective 7/1/2019 and will be reflected in the July 2019 pension payment.

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ERS Personal Benefit Statements
February 27, 2020

Personal Statements of Retirement Benefits

Employees’ Retirement System of Georgia (ERSGA)  mailed annual Personal Statement of Retirement Benefits to ERS members on February 27, 2020.

This integrated statement combines  ERSGA pension benefits and Peach State Reserves (PSR) (if applicable) balances to provide an overview estimate of where members currently stand in achieving their retirement goals. In addition, if members have a PSR balance, their Social Security estimate will be factored into the summary.

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Notice: Print Changes to 1099-R Forms
January 28, 2019

ERS recently changed the forms for 1099-R documents.

Instead of a pre-printed, perforated form, you will receive your 2018 1099 forms on plain paper, enclosed in an envelope.

You can also download a copy of your 1099 form by logging into your account using the Log In button at the top of this page.