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Teacher Retirement System

Teachers, administrators, supervisors, clerks, paraprofessionals, secretaries, bookkeepers, media specialists and nurses are eligible for membership in the Teachers Retirement System of Georgia (TRS).

 1)       When am I eligible for retirement?

 You are eligible for monthly retirement benefits if you have completed one of the following:

v      30 years of creditable service regardless of age, or

v      10 years of creditable service AND 60 years of age.

 2)       What about early retirement?

You may retire with 25 years of creditable service.  (If you retire under this provision your benefit will be permanently reduced by one-twelfth of 7% for each month you are below 60, OR 7% for each year or fraction of year by which you have less than 30 years, whatever is less.)  Also be aware that you will not be eligible for cost of living increases until such time as you reach 60 years of age or at the time you would have obtained 30 years of service.

3)       What does it mean to be vested?

A member of TRS with at least 10 years of creditable service is considered vested and eligible for a retirement benefit at age 60.  If you have 10 or more years of service and leave your covered position, you are still entitled to a service retirement benefit when you reach age 60, if you have not withdrawn your contributions.  If you are vested and no longer contributing to TRS, it is your responsibility to apply for benefits at the time you become eligible.

4)       What is the formula for calculation my retirement benefit?

Your TRS retirement benefit is calculated by using the percentage of salary formula.  Two percent is multiplied by your years of creditable service established with TRS (not to exceed 40 years).  This product is then multiplied by your average monthly salary for your two highest consecutive years of service.  This will provide you with the maximum plan of retirement.  You may choose to leave a monthly benefit to a beneficiary(ies) however; this will reduce your maximum plan of retirement benefit.

Example:  An employee with 20 years of service age 60 with an average monthly salary of $1000.00 would receive a monthly maximum benefit of $400.00.  2% x 20 years = 40% of $1000.00 = $400.00.

5)       Can I receive credit for unused sick leave when I retire?

Yes.  TRS members who retire on or after July 1, 1998, are eligible for sick leave credit.  To qualify you must have at least 60 days of sick leave for which you have not been paid (less than 60 days = no credit).  The maximum amount of sick leave, which can be accumulated for retirement purposes, is one and one-quarter days per month of actual service.  Sick leave cannot be used for vesting purposes.

Please note:  If you were employed with Henry County Schools prior to July 1, 1992 or had days transferred in from another system then what is on your check stub will not be what we report to TRS.  Under TRS regulations we must report only Henry County unused sick leave days and we must have records to support the days.  Henry County Schools only have actual records to support the days beginning with the 1992-1993 year.

6)       What if I’m permanently disabled?

If you have at least 9 ½ years of creditable service with TRS and are deemed permanently disabled then you may apply for disability retirement.  The same formula is used in calculation your disability retirement as it is in calculating your service retirement.

For further information you may contact Teachers Retirement at (404) 352-6500 or visit their website at www.trsga.com.

Public Schools Retirement System

Maintenance, custodial, bus drivers and school nutrition employees are eligible for membership in the Public School Employees Retirement System (PSERS).

1)       When am I eligible for retirement?

Normal monthly benefits can begin at age 65 with 10 years of creditable service.

2)       What about early retirement?

Early monthly retirement benefits begin at age 60 with 10 years of creditable service.  Receiving monthly benefits prior to age 65 results in a reduction of ½ of 1% for each month under age 65.

3)       What is the formula for calculating my retirement benefit?

Creditable years of service times the current benefit rate of  $13.50 = monthly benefit.

Example:  10 yrs x $13.50 = $135.00.  Full benefit

4)       Can I receive credit for unused sick leave when I retire?

No.

5)       What if I’m permanently disabled?

An employee with 15 or more years of creditable service who becomes permanently disabled may apply for disability retirement.  The monthly benefits are the same as those payable had the member been age 65.

For further information you may contact Public Schools Retirement at (404) 350-6300 or visit their website at www.ersga.org.

Employees Retirement System

Any new employee who is a vested member (10 years of service or more) with Employees’ Retirement System (ERS) may elect to remain a member of ERS.  The election to stay under ERS must be made in writing to the Board of Trustees no later than 60 days of first becoming employed by Henry County Schools in a position covered by Teachers Retirement System.  This election is irrevocable.  Please contact the Benefits Office for more information.

For further information you may also contact Public Schools Retirement at (404) 350-6300 or visit their website at www.ersga.org. 

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Henry County Schools
33 N. Zack Hinton Parkway
McDonough, GA  30253
USA

Phone 770-957-6601  *   Fax 770-898-7912

Revised: June 09, 2005 .
These pages maintained by Sylvia Burch,
Community Relations

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