Title: EQ: How does Georgia Legislature guarantee retirement income for life?
1EQ How does Georgia Legislature guarantee
retirement income for life?
Presented By Jenette Allen, Poole
Elementary Emily Haney, McGarity Elementary Karen
McQueen, Moses Middle School
2What is TRS?
- Established in 1943 by an act of the State
Legislature to provide retirement security to
citizens who chose to dedicate their lives to
educating the children of Georgia. - TRS manages the retirement accounts of more than
230,000 non-retired (active) members and pays a
monthly benefit to approximately 65,000 retired
members and survivors. - TRS retiree payroll is in excess of 1.8 billion
dollars per year.
3How TRS Operates!
- TRS administers the fund from which teachers in
the states public schools, many employees of the
University System of Georgia, and certain other
designated employees in educational-related work
environments receive retirement benefits. - TRS members include all employees who are
employed one-half time in - regional libraries
- county libraries
- regional educational service agencies and
- states public school systems
- Teachers, administrators, supervisors, clerks,
teacher aides, secretaries, paraprofessionals,
public school nurses, and employees of the
Agricultural Extension Service. - TRS offers a defined benefit plan guaranteeing a
monthly benefit based on a formula which takes
into account the length of service and highest
two consecutive years of salary. -
4- The state of Georgia guarantees TRS members will
receive retirement income for the life of the
member!
- TRS retirement benefit is not impacted by the
stock market performance, therefore it is secure!
- At a members death, benefits are transferable to
beneficiaries - who continue to receive the income until their
death.
5Extra! Extra! Read All About It!Latest Headlines
GA House Bill 210 Can employ a retired
teacher as a full time classroom teacher in
qualifying schools schools that have failed to
make adequate yearly progress under Title I
guidelines, schools having 50 or more of its
students failing to meet the standard that should
be achieved by students in any subject area at
any grade level, as identified by the Office of
Education Accountability, and after 2003 schools
that have received a grade of D or F on student
performance for the absolute achievement standard
or on progress on improved student achievement as
identified by the Office of Education
Accountability.
- GA House Bill 400
- Cost
- Of
- Living
- Adjustment
- Became effective on July 1, 2006 granting an
increase in the monthly retirement benefits for
retirees who retired before July 1, 1987.
Contact TRS www.trsga.com 404-352-6500 or
800-352-0650 Two Northside 75, Suite 100 Atlanta,
GA 30318