Georgia Legislative Retirement System

This Explanation of Content should be read in conjunction with the Benefit Statement, as it provides details on the data and terms included in the Statement. Since the Statement has been personalized for each member, there may be terms below that do not apply to you and are not shown on the Statement. 

• Pension ID: The unique code which identifies a Member’s record in the ERSGA system.
• Date of Birth: Member’s date of birth
• Membership Date: Most recent date of plan membership
• Membership Service: Service credited for each month Member contributions are made to the plan. This is the service used to determine eligibility for retirement.
• Creditable Service: If you were previously a Member of LRS and took a refund, or if you have qualifying service in the US Armed Forces, you can choose to purchase that service to increase your LRS benefit. Creditable Service is the sum of Membership Service plus any purchased service. Creditable Service is used to determine vesting and benefit amounts.
• Vesting Status: Vesting is achieved at 8 years of Creditable Service or 4 terms of office. Vesting means an irrevocable right to a monthly benefit at retirement. Leaving LRS before 8 years of Creditable Service or 4 terms of office results in a refund of the Employee Contribution Account only; there is no benefit.
• Employee Contribution Account Balance: Balance of contributions plus interest as of the Statement date. Contributions of $165 from your monthly salary are deposited to the Employee Contribution Account. The State “picks-up” 4.75% of the Member’s monthly salary, less $7. The remaining balance of the $165 is paid by the Member. Interest at 4% (compounded annually) is credited to accounts of active contributing Members each June 30th on all contributions in the account for at least a year.
• Earliest Retirement Date: Members with at least 8 years of Membership Service or 4 terms of office are eligible to retire as early as age 60 with a reduced benefit.
• Earliest Retirement Benefit: The lifetime monthly benefit based on Creditable Service as of the retirement date times $50. When paid prior to Normal Retirement Date, this amount is reduced by 5% for each year before Normal Retirement Date.
• Normal Retirement Date: Members with at least 8 years of Membership Service or 4 terms of office are eligible for Normal Retirement at age 62. Without 8 years Membership Service or 4 terms of office, Normal Retirement is at age 65 with at least 8 years of Creditable Service or 4 terms of office.
• Normal Retirement Benefit: The lifetime monthly benefit based on Creditable Service as of the retirement date times $50.
• Current Retirement Benefit: For Members who have already reached Normal Retirement Date, the lifetime monthly benefit based on Creditable Service as of the Statement date times $50.
• Termination Benefit: For termination before retirement with at least 8 years of Creditable Service or 4 terms of office, a monthly benefit is payable as of Normal Retirement Date. The benefit shown is based on Creditable Service as of the Statement date. Without 8 years of Creditable Service or 4 terms of office, only a refund of the Employee Contribution Account is payable; there is no benefit.
• Pension Death Benefit: In the event of death while an active, contributing Member of LRS and eligible for an immediate monthly benefit, or with at least 15 years of Creditable Service, the beneficiary(ies) is paid a monthly benefit for life. If death occurs before becoming eligible for an immediate monthly benefit and with less than 15 years of Creditable Service, the beneficiary(ies) is paid a refund of the Employee Contribution Account. A living person must be the designated beneficiary(ies) for a month benefit to be payable; benefit cannot be paid to an Estate.
• Group Term Life Insurance (GTLI): Members prior to July 1, 2009 are covered by the Group Term Life Insurance plan and pay an additional 0.25% of monthly salary toward the GTLI benefit. The base GTLI benefit is 18 times monthly salary plus State paid “pick-up” contributions. The benefit is frozen at age 60 and then reduces by ½% per month until reaching age 64. After age 65 or upon earlier retirement, GTLI coverage is 70% of coverage at age 60. GTLI coverage ceases if the Member leaves the General Assembly prior to retirement with less 18 years of Creditable Service. There is no GTLI coverage for those first becoming a Member of LRS on or after July 1, 2009.
• Beneficiaries: Individuals designated to receive available benefits in the event of the Member’s death. In the event of death without a designated beneficiary(ies), or if the beneficiary(ies) dies first, both the GTLI benefit and a refund of the Employee Contribution Account are payable to the Member’s estate. A lifetime monthly benefit can only be paid to a designated living person.