Changes to Peach State Reserves
Updated May 2024


Changes are periodically made to the PSR 401(k) and 457 Plans. These changes are a result of the federal SECURE Act, as well as PSR administrative decisions. 

No Plan changes for 2024
Effective January 1, 2023:

401(k) and 457: The age for Required Minimum Distribution (RMD) was raised from 72 to 73. (SECURE Act)

Effective January 1, 2022:
  • 457: In-service withdrawal age has changed from 70.5 to 59.5 (SECURE Act)
  • 401(k) and 457: Changes to distributions to beneficiaries - payments must be made to beneficiaries within (SECURE Act):
    • 10 years for 
      • Spouse
      • Minor child
      • Disabled beneficiary
      • Chronically ill beneficiary
      • Beneficiary less than 10 years younger than participant
    • 5 years for all other beneficiaries
  • 401(k) and 457: All permanent employees can contribute to PSR 401(k) and 457 Plans. (Administrative)
  • 401(k) and 457: Participants may use annual leave and FLSA payouts to contribute to a PSR plan. Contributions from these payouts are not are not included in employer contribution calculations, such as 401(k) matching contributions for GSEPS members.

    To make a contribution from these payouts, complete an Annual Leave and/or FLSA Payout Agreement form and submit to your payroll office. Forms can be found on the PSR Plan page on our website. (Administrative)
Effective July 1, 2022

Note: Additional information about this change will be available closer to the effective date.

401(k) and 457: Qualified event birth or adoption distributions (SECURE Act):

  • Members can withdraw up to $5k without penalty
  • Funds can’t be rolled over
  • Funds can be repaid to plan
Effective January 1, 2020:

401(k) and 457: The age for Required Minimum Distribution (RMD) was raised from 70.5 to 72. (SECURE Act)