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EQ: How does Georgia Legislature guarantee retirement income for life?

EQ: How does Georgia Legislature guarantee retirement income for life?. Presented By: Jenette Allen, Poole Elementary Emily Haney, McGarity Elementary Karen McQueen, Moses Middle School. What is TRS?.

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EQ: How does Georgia Legislature guarantee retirement income for life?

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  1. EQ: How does Georgia Legislature guarantee retirement income for life? Presented By: Jenette Allen, Poole Elementary Emily Haney, McGarity Elementary Karen McQueen, Moses Middle School

  2. What is TRS? • Established in 1943 by an act of the State Legislature to provide retirement security to citizens who chose to dedicate their lives to educating the children of Georgia. • TRS manages the retirement accounts of more than 230,000 non-retired (active) members and pays a monthly benefit to approximately 65,000 retired members and survivors. • TRS retiree payroll is in excess of 1.8 billion dollars per year.

  3. How TRS Operates! • TRS administers the fund from which teachers in the state’s public schools, many employees of the University System of Georgia, and certain other designated employees in educational-related work environments receive retirement benefits. • TRS members include all employees who are employed one-half time in: • regional libraries • county libraries • regional educational service agencies and • state’s public school systems: • Teachers, administrators, supervisors, clerks, teacher aides, secretaries, paraprofessionals, public school nurses, and employees of the Agricultural Extension Service. • TRS offers a defined benefit plan; guaranteeing a monthly benefit based on a formula which takes into account the length of service and highest two consecutive years of salary.

  4. The state of Georgia guarantees TRS members will receive retirement income for the life of the member! • TRS retirement benefit is not impacted by the stock market performance, therefore it is secure! • At a members death, benefits are transferable to beneficiaries • who continue to receive the income until their death.

  5. GA House Bill 400 Cost Of Living Adjustment Became effective on July 1, 2006 granting an increase in the monthly retirement benefits for retirees who retired before July 1, 1987. Extra! Extra! Read All About It!Latest Headlines GA House Bill 210 Can employ a retired teacher as a full time classroom teacher in qualifying schools: schools that have failed to make adequate yearly progress under Title I guidelines, schools having 50% or more of its students failing to meet the standard that should be achieved by students in any subject area at any grade level, as identified by the Office of Education Accountability, and after 2003 schools that have received a grade of D or F on student performance for the absolute achievement standard or on progress on improved student achievement as identified by the Office of Education Accountability. Contact TRS www.trsga.com 404-352-6500 or 800-352-0650 Two Northside 75, Suite 100 Atlanta, GA 30318

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