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FY 2020 Salary Limit & FY 2021 Contribution Rate Memo
In its annual meeting on May 15, 2019, the TRS Board of Trustees adopted maximum salary increases for fiscal year 2020 along with the employee and employer contribution rates for fiscal year 2021.
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Published: May 29, 2019
Frequently Asked Questions Regarding COVID-19
Frequently Asked Questions Regarding COVID-19 and Teachers Retirement System for Members, Retirees, and Employers
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Important Updates About Your 2021 Benefit!
Happy 2021 retirees and we hope that this year is off to a great start! You may have noticed a difference in your January, 2021, benefit.
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Tags: Retiree
Published: January 5, 2021
Published: January 5, 2021
FY2021 Annual Membership Statements Are Available
Active members may now access their membership statements online via their TRS account. The statements provide valuable account information, such as an account balance, the lump-sum value of an account, estimated projections, as well as beneficiary and service credit information.
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Legislative Update 2019
During the legislative session, TRS posts legislative updates from the Georgia General Assembly that may affect the teachers pension system. Pending legislation is sponsored by members of the Georgia House or Senate, and does not become law until the Governor signs the bill. TRS does not draft or lobby for/against any legislation.
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Published: February 25, 2019
2021 TRS Year End Recap with Dr. L.C. “Buster” Evans
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Tags: Retiree
Published: December 3, 2021
Published: December 3, 2021
The Best of Your Retirement in Focus - Highlights of 2021
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Furloughs and TRS Earnable Compensation
Current economic conditions and reduced revenue collections due to the Covid-19 pandemic have resulted in employers planning for reducing budgets in FY 2021 by several methods such as furloughs, salary reductions and reductions of contracted work days, which will have an impact on the amount of earnable compensation to be reported to TRS
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Published: June 5, 2020
2021 Retiree Underwithheld Federal Income Tax Frequently Asked Questions (FAQ)
If you are a TRS retiree with federal income tax withholding for January and February that was lower than the appropriate amount for your monthly benefit, please refer to the frequently asked questions below to find answers about the issue and resources available to you.
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Tags: Retiree
Published: September 28, 2021
Published: September 28, 2021
Contribution Rates
TRS employer and employee contribution rates from fiscal year 1980 to present
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Published: October 6, 2021
Salary Limitations
In a TRS board meeting held on June 24, 2020, the TRS Board of Trustees adopted the following maximum salary increases for FY 2021 that can be used by the Teachers Retirement System of Georgia (TRS) to compute a member’s highest two-year average salary
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Published: July 1, 2020
2022 Federal Income Tax Withholding Rates
TRS processed January 2022 monthly retirement benefits using the federal income tax withholding rates for 2021, the federal rates publicly available at the time. The IRS released the 2022 rates in the second half of December, after the deadline for timely payment processing.
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Published: January 27, 2022
TRS Awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA)
The Teachers Retirement System of Georgia is pleased to announce that the annual comprehensive report for the fiscal year ended June 30, 2021, received the GFOA’s Certificate of Achievement for Excellence in Financial Reporting.
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Published: July 11, 2022
Military Service
Georgia law contains several provisions for the establishment of up to 5 years of retirement credit for periods of active duty military service in the armed forces of the United States. If you have military service prior to 1955, please contact our office.
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Maternity Leave
You can purchase credit for periods of absence from employment due to pregnancy prior to March 5, 1976. One and one-half months of credit may be awarded for each pregnancy with a maximum of six months allowable for all pregnancies.
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The History of TRS
The Teachers Retirement System of Georgia (TRS) was established in 1943 by an act of the Georgia General Assembly to provide retirement security to those citizens who choose to dedicate their lives to educating the children and adults of Georgia.
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Hiring Employees Vested In ERS of Georgia
Legislation (HB 661) was passed and became effective July 1, 1998, that allows any vested member of the Employees’ Retirement System (ERS) who becomes an employee of an employer normally covered by TRS to remain a member of the ERS
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Published: October 6, 2021
Elective Membership Employer Requirements
Georgia law was amended in 1976 allowing full-time public school lunchroom, maintenance, and warehouse supervisors and managers the option to elect membership in TRS.
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Published: October 6, 2021
Historical Rates
Employer & Member Contribution Rates & IRS Salary Limits
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Published: October 6, 2021
Board Meeting Minutes
The TRS Board of Trustees meet six times a year at the TRS office in Atlanta. Meeting minutes for items discussed during open session are provided below:
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Published: September 18, 2021
Publications
Review our annual reports, actuarial valuations and miscellaneous publications.
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Your TRS Representative
View a list of employers and their TRS assigned representative
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Published: October 7, 2021
Half-Day Pre-Retirement Seminar @ Central Georgia Technical College
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Tags: Pre-Retirement
Published: October 25, 2022
Published: October 25, 2022
Mr. Greg S. Griffin
Mr. Griffin currently serves as the State Auditor of Georgia. He was appointed to that position by Governor Nathan Deal.
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Published: September 18, 2021
Board of Trustees' Sets:
In its annual meeting held today, May 11, 2022, the Board of Trustees adopted the following maximum IRS Salary Limits that can be used by the Teachers Retirement System of Georgia (TRS) to compute a member’s highest two-year average salary
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Mr. Steve McCoy
Steve McCoy is the Georgia State Treasurer. The Treasurer serves as cash management officer for Georgia on behalf of the State Depository Board responsible for managing over $30 billion of state and local government investments
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Published: September 18, 2021
I’m Ready to Retire
Well in advance of your date of retirement, we recommend you contact TRS for a retirement benefit estimate and to discuss the various plans of retirement. If you are considering retiring within the next two years, we recommend that you speak with one of our retirement counselors.
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Tags: Pre-Retirement
Published: September 27, 2021
Published: September 27, 2021
Pension Limitations
When calculating and paying retirement benefits, Georgia law and Internal Revenue Service (IRS) regulations place certain limitations on salary earned, salary increases received, and retirement payments received.
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Published: September 27, 2021
How TRS Benefits You!
Your retirement plan is a defined benefit plan which requires contributions from you and your employer, is determined by a formula based on your years of service and/or age and your final average salary, and will be paid to you throughout your lifetime.
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How Contributions Work
In order to successfully plan for your retirement, you need to understand how contributions are made to your TRS account. Your pension is funded by 3 sources: member contributions, employer contributions, and investment earnings.
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Hello, Mid-Career Members!
You have been an educator for several years now, but you still have a number of years remaining before you can fully plan your retirement. However, now is the perfect time to acquaint yourself with specific details regarding your forthcoming TRS pension benefit.
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Tags: Mid-Career
Published: October 5, 2021
Published: October 5, 2021
Unused Sick Leave Credit at Retirement
At retirement, TRS members can establish credit for unused sick leave earned with current and previous employers. Based on Georgia law, a member can receive credit for unused sick leave at retirement only if he or she has not received payment of any kind for the leave
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Tags: Retiree
Published: October 5, 2021
Published: October 5, 2021
Determining Your Retirement Benefit
Your retirement benefit is calculated by using the percentage of salary formula. Simply stated, two percent is multiplied by your years of creditable service, including partial years (not to exceed 40 years).
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Out of State Service
After completing six years as a contributing member of TRS, you may establish one year of credit for service rendered in a public educational institution of another state. With the completion of each additional year of Georgia service thereafter, you may establish an additional year of out-of-state service, to a maximum of ten years.
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State of Georgia Employment
If you were previously a member of the Employees’ Retirement System of Georgia (ERS) and withdrew your funds, you may establish this service with TRS. You are eligible to purchase your ERS withdrawn service after you have completed the required number of years of active TRS membership.
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Covered Positions
All employees who are employed one-half time or more in covered positions of the state’s public school systems, regional and county libraries, RESA units, or any other agency of and within this state by which a teacher is paid are required to be members of the TRS as a condition of employment.
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Published: October 6, 2021
Earnable Compensation
Earnable compensation is defined as the full regular compensation payable to a member for full normal working time.
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Published: October 6, 2021
Membership Exceptions
Any vested member of TRS who becomes an employee of an employer normally covered by the Employees’ Retirement System (ERS) can elect to remain a member of TRS.
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Published: October 7, 2021
Pension Limitations
When calculating and paying retirement benefits, Georgia law and Internal Revenue Service (IRS) regulations place certain limitations on salary earned, salary increases received, and retirement payments received.
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Published: October 7, 2021
Pre-Retirement Workshop @ TRS Atlanta Office
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Tags: Pre-Retirement
Published: September 6, 2022
Published: September 6, 2022
Mid-Career Half-Day Seminar @ UGA Center for Continuing Education and Hotel
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Tags: Mid-Career
Published: June 23, 2023
Published: June 23, 2023
Pre-Retirement Workshop @ the Atlanta TRS Office
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Tags: Pre-Retirement
Published: January 25, 2024
Published: January 25, 2024