Teachers Retirement System Of Georgia

If you are wondering what the teachers retirement system of Georgia is, maybe this will help you. This system manages the retirement fund for University System of Georgia Employees, public school educators, and others who are in the educational fields in Georgia.

All members who are of a covered position must become members of the retirement system. The positions may include: supervisors, administrators, teachers, teachers aides, clerks, public school nurses, secretaries, paraprofessionals, and employees of the Agricultural Extension Service. Those who are not eligible are: custodial and maintenance employees, cafeteria workers, and school bus drivers. Substitute teachers and emergency or temporary employees also do not qualify for membership in the retirement system.

Your membership account stays active if you are a contributing member at least once out of any five consecutive years. If you don’t contribute for more than four years in a row then your account becomes inactive.

If you decide to terminate your membership, you may apply for a refund. Your refund is a lump sum in your account. You may not apply for a loan or partial refund.

For those who decide not to terminate their membership but would like to retire, you must first apply for retirement benefits. The choice that you choose on your application form will determine if monthly survivor benefits will be given to your beneficiaries upon your death or if you will receive the maximum benefit available to you while you are still alive. Once you have filled out the paperwork and start drawing a retirement benefit, you cannot change your retirement plan except in certain cases.

So as you can see, those who work in the educational field in Georgia may be required to join the teachers retirement system. This system can be a good thing for those who want to still have money coming in after they retire.

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