ERS Retirees can Convert Peach State Reserves funds to
Guaranteed Monthly Income
Supplemental Guaranteed Lifetime Income (SGLI)
Senate Bill 55 was passed during the 2019 Legislative session,
permitting ERS retirees to use funds in Peach State
Reserves to purchase a supplemental annuity from
ERS. The SGLI is a program that can be used to provide
additional financial security during retirement through lifetime
monthly benefit payments.
Effective January 1, 2021, an Employees’ Retirement System (ERS)
retiree who has at least $25,000 pre-tax (non-ROTH) funds in the
Peach State Reserves (PSR) 401(k) and/or 457 Plan may choose to
use the PSR funds to purchase a Supplemental Guaranteed Lifetime
Income (SGLI) monthly benefit.