Retirement
NGCSU non-faculty employees are require to participate in the Teachers Retirement System of Georgia (TRS).
NGCSU faculty employees have the option to choose to participate in TRS or in the Optional Retirement Plan (ORP). The decision of faculty members to elect TRS or ORP is irrevocable and may not be changed at a later date.
All employees contribute 5% of salary and NGCSU will contribute 9.28% to TRS or 8.13% to ORP. An employee is eligible to retire (a) with 25 years of service* or (b) at age 60 with at least 10 years of service. Please note that an early pension benefit penalty will apply to TRS participants who decide to retire anywhere between 25 and 30 years of service, prior to reaching age 60. TRS members may retire at any age after 30 years of service, without penalty.
Teachers Retirement System of Georgia (TRS):
All non-faculty NGCSU employees are required to participate in TRS. TRS is considered a "defined benefit" program. Your benefit is "defined" by calculation using your years of membership service, the average of your two highest membership salary years, and a 2% multiplier. Members are vested after 10 years of membership service and any unused sick leave may be applied towards additional membership service. Under TRS, you assume no investment risk and you are guranteed retirement income for the rest of your life.
Optional Retirement Plan (ORP):
Faculty members also have the option to participate in ORP. ORP is a "defined contribution" program. There are four authorized ORP vendors: American Century, Fidelity, TIAA-CREF, and Valic. The decision of faculty members to elect TRS or ORP is irrevocable and may not be changed at a later date. ORP members are immediately vested in both employee and employee contributions. Retirement income is directly linked to the value of the account and the performance of investment choices.
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