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.
The memo can be viewed by clicking here.
The following maximum salary increases for FY 2020 that can be used by the Teachers Retirement System of Georgia (TRS) to compute a member’s highest two-year average salary:
|Employees of the Board of Regents||4.50%||(2.0% + 2.50%)|
|All Others||4.26%||(1 .76% + 2.50%)|
These percentages are in accordance with Georgia Law [O.C.G.A. § 47-3-120(d)] and apply only to TRS members whose current date of membership is on or after July 1, 1984.
The Board of Trustees also adopted the employee and employer contribution rates for FY 2021. Effective July 1, 2020, the contribution rates will be: