Learn more about important changes to retiree coverage effective January 1, 2016
Retirement Benefits Information
All employees of the University System of Georgia are required to participate in a retirement plan. Non-exempt employees are required to participate in Teachers Retirement System, which is a state sponsored plan. Exempt employees have the option to participate in either Teachers Retirement System or Optional Retirement Plan. Part-time employees must also participate in a retirement plan called Georgia Defined Contribution Plan. Information on the plans can be obtained from your local Human Resources or you can visit retirement.usg.edu.
Teachers Retirement System (TRS)
The required contribution rate is 6.0 percent of base salary for the employee contribution. Effective July 1, 2020, the employer contributes 19.06 percent to support the retirement plan. Ten years of creditable service are required in order to be vested. More information about TRS can be found on their website at www.trsga.com.
Optional Retirement Plan (ORP)
Effective January 1, 2013, this plan requires a 6 percent base salary employee contribution. The employer contributes 9.24 percent to the (ORP) vendor who then invests these funds on behalf of the employee. This plan has no vesting requirements, and the employee is vested immediately in the ORP plan. The ORP vendors are:
Other Retirement Options
In addition to TRS or ORP, employees may contribute to deferred compensation plans (403b and 457b). An eligible employee can elect either a flat amount or percentage of gross earnings to be contributed to the plan, which would then lower the taxable income. Employees may contribute the maximum amount to both 403b and 457b plans as long as that amount does not exceed plan limits. Information on the plans can be obtained from your local Human Resources or you can visit retirement.usg.edu.