RETIREMENT
Policy: Board of Regents Policy Manual, Section 8.2.8, http://www.usg.edu/policymanual/section8/
The retirement policies of Georgia College & State University are governed by the University System and Board of Regents policies. An outline of the retirement system is provided below. At the time of retirement, a faculty member should submit a letter of intent to his/her immediate supervisor who will in turn work with appropriate academic administrators to facilitate the retirement process.
Teachers Retirement System of Georgia Membership
All new eligible employees who are employed as much as half- time or more are required to be members and make contributions as a condition of their employment. Members whose employment is reduced to less than half-time are no longer eligible to make contributions to the System and because of this, do not accrue any additional service unless employment is increased to as much as half-time. The eligible employees include new teachers, college administrators, secretaries, clerks, librarians, and new employees of the University System of Georgia, employees of the Georgia Education Association, Georgia Teachers and Education Association, the director and assistant director of the Georgia Educational Improvement Council, and the Executive Secretary of the Georgia Vocational Association. A qualified non-member who has been out of the teaching profession in the state supported schools for more than two consecutive years is required to be an active contributing member upon returning to the teaching profession.
Membership Applications and Numbers
All new eligible employees, including former members who have lost active membership, must complete membership applications in order to be assigned active membership numbers.
For specific retirement information, see the "Handbook of Information," Teachers Retirement System of Georgia.
Optional Retirement Plans
Optional retirement plans are available to faculty and administrators at time of hire. These plans are defined contribution plans. Employees are vested immediately. Your retirement benefit depends on the value of the plan and your selected method of withdrawal at the time of your retirement.