Retirement Benefits


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 the Teachers Retirement System or an Optional Retirement Plan. Part-time employees must also participate in a retirement plan called Georgia Defined Contribution Plan.  Retirement elections are finalized through a paper process. Employees must submit their retirement election to Human Resources.

Teachers Retirement System (TRS)

The required contribution rate is 6.0 percent of base salary for the employee contribution.  The employer contributes 13.15 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:

*Fidelity Investments

*TIAA-CREF

*VALIC

Georgia Defined Contribution Plan (GDCP)

Temporary and part-time BSC employees not eligible to participate in the Teachers Retirement System (TRS) or the Optional Retirement Plan (ORP) are required to participate in the Georgia Defined Contribution Plan. This plan was created by the 1992 Georgia Law, Act 996 and become effective on July 1, 1992.

BSC pays benefits to Medicare but does not pay into Social Security on behalf of employees enrolled in GDCP.   This means that temporary and part-time employment is recognized for purposes of Medicare but not for Social Security benefits.   More information regarding the requirements of the plan is available through the ERS website at www.ers.ga.gov.

Georgia Defined Contribution Plan

Electing Retirement

Complete the appropriate form. Return to HR within 60 days from your date of hire. Otherwise, you will be automatically enrolled in the TRS plan.  It is your responsibility to ensure Human Resources has received your completed paperwork.

Retirement Election Form

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.  Electing the plan must be done through the Human Resources office in order to be processed through payroll.

Approved deferred compensation plan vendors are:

*Fidelity Investments

*TIAA-CREF

*VALIC

403b Plan Form

457b Plan Form

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