PSERS was established January 1970 under Georgia Laws 1969 (O.C.G.A. Title 47, Chapter 4) to provide certain public school employees with a supplemental retirement plan.
Benefits
of Membership - If you qualify by years of service and age, PSERS provides
lifetime retirement benefits, disability benefits, and death benefits. At
retirement, options may also be chosen that can provide lifetime benefits to
your beneficiary beginning at your death. The amount you receive is
calculated by years of CREDITABLE SERVICE multiplied by a SPECIFIC DOLLAR
AMOUNT. The dollar amount is set by the Georgia General Assembly.
The current
DOLLAR AMOUNT is $14.75.
Service
Benefit Calculation Example:
Age 65 with
20 years creditable service: $14.75 X 20 = $295.00 monthly benefit
Download the
PSERS Handbook from the
Forms and Publications section
of our website for more information.
Members who leave employment before retirement are entitled to a refund of member contributions plus interest.
Member contributions and contributions by the State are paid into PSERS for the exclusive benefit of members of the System and their beneficiaries. All benefits are paid out of this fund and are separate from any other retirement income you may have. The ability of this fund to meet future obligations is examined each year by an independent actuarial firm specializing in pension and retirement plans. In addition, PSERS is examined annually by an independent accounting firm in accordance with generally accepted auditing standards.
PSERS is administered by a Board of Trustees consisting of the Board of Trustees of the Employees' Retirement System plus two additional members appointed by the Governor.
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