welcome to the teachers retirement system of …...the teachers retirementsystem of georgia (trs) is...

The Teachers Retirement System of Georgia(TRS)ispleasedtoprovideyouwiththisMember’sGuide. It isan importantpartofourcommitmentto provide you with valuable information aboutyour retirement benefits. Please read this guidethoroughly and keep it with your other benefitmaterials. The Member’s Guide was developedto help youmake informed decisions about yourfuture, as well as answer any questions youmayhavethroughoutyourmembership.

TRS was established in 1943 by an act of theGeorgia General Assembly to provide retirementsecurity to those citizenswho choose to dedicatetheir lives to educating Georgia’s children. It isthe largest public retirement system in Georgia.Its purpose is to administer the fund to provideitsmembers and their beneficiaries with benefitsatretirement,orupondisabilityordeath.TRSisagovernmentaldefinedbenefitplan.Thismeansthatyourretirementbenefitisdeterminedbyaformulaand is not directly related to the contributionsmadetoTRS,nortotheinvestmentreturnonthecontributions.

Welcome to the Teachers Retirement System of Georgia

Theamountof thebenefit isdeterminedbyaformula which takes into account your length ofservice and your 2 highest consecutive years ofmembershipservice(commonlyreferredtoasyourfinal average salary). Upon becoming eligible andupon termination of employment, youmay retireandreceivealifetimemonthlybenefitfromTRS.

Since TRS represents an important source ofsecuritytoyouandyourfamily,itisyourobligationto review this informationcarefully tounderstandyourrightsandresponsibilitiesinbecomingeligibleforbenefits.

TheinformationinthisMember’sGuideisbasedonGeorgia law and is not intended to supersedethe law, nor will its interpretation prevail shoulda conflict arise between its contents and Georgialaw.TheinformationsummarizedhereissubjecttochangeperiodicallyeitherbystatuteoftheGeorgiaLegislature or by regulation of the TRS Board ofTrustees. Do not rely solely upon the informationprovided in this Member’s Guide to make anydecisionregardingyourretirement,butcontactTRSdirectly with any questions you may have aboutyourbenefitsandretirement.

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TheTeachersRetirementSystemofGeorgiaisproudtoserveitsmembersandwewanttomakepreparingforretirementaseasyandconvenientaspossible.Pleasetakeadvantageofthesecureonlinefeatureswehaveavailable for youwhen you register online for a TRS account. Youmay access andupdate your informationanytime!

• AccessyourcurrentTRSaccountinformation.

• Calculatebenefitestimates.

• Calculatecostcalculationsforwithdrawnandairtimeservice.

• Applyforretirement.

• Registerforworkshopandcounselingevents.

• Viewandprintyourannualmembershipstatement.

• Updatebeneficiaryinformation.

• Educateyourselfwithpagesofvaluableinformation.

• Downloadformsandpublications.

LoggingonorregisteringforaTRSonlineaccountiseasy.Justvisitwww.TRSGA.com,clickontheAccountLoginbuttonandclickontheActiveMember,Retiree,orEmployerlink.Youwilltheneitherlogintoyouraccountorsignupforanewone.It’sthatsimple.

Ifyouneedtocontactusforanything,youmayreachusinavarietyofways.

WEBwww.TRSGA.com

PHONE(404) 352-6500 or (800) 352-0650

FAX(404) 352-4885

OFFICETeachers Retirement System of Georgia

Two Northside 75, Suite 100Atlanta, GA 30318-7901

CALL CENTER HOURS

Monday - Friday, 8:00 a.m. – 5:00 p.m. EST

OFFICE HOURS Monday - Friday, 8:00 a.m. – 4:30 p.m. EST

Your Online Account and Contacting TRS

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Members............................................................................................ 4Contributions...................................................................................... 4ContributionLimitation...................................................................... 4Termination—WithdrawingYourFunds............................................ 4YourAnnualMemberStatement........................................................ 5EligibilityforRetirementBenefits....................................................... 5RetirementBenefitFormula............................................................... 6CreditableService............................................................................... 7 PaymentofServicePurchases...................................................... 7 AirTime........................................................................................ 7 ERSWithdrawnService................................................................ 7 MaternityLeave............................................................................ 7 MembershipService..................................................................... 8 MilitaryService............................................................................. 8 Out-of-StateService...................................................................... 9 PrivateSchoolEmployment.......................................................... 9 PSERS........................................................................................... 9 StudyLeave................................................................................. 10 TRSWithdrawnService.............................................................. 10 VisitingScholar........................................................................... 10 WorkersCompensationDisability............................................... 10MembershipStatus.......................................................................... 11LeavesofAbsence............................................................................ 11Vesting.............................................................................................. 1140YearsofService............................................................................ 11Survivor’sBenefits............................................................................ 11BeneficiaryUpdates......................................................................... 12PlansofRetirement.......................................................................... 13 PlanA:MaximumPlan................................................................ 13 PlanB:SurvivorshipPlans........................................................... 14 PrimaryandSecondaryBeneficiariesatRetirement.................. 16 ChangesinPlanofRetirementandBeneficiaryDesignation...... 16Retirement........................................................................................ 17 UnusedSickLeave...................................................................... 17 EffectiveDateofRetirement....................................................... 18 HowtoApplyforServiceRetirement......................................... 18 HowtoApplyforDisabilityRetirement...................................... 19 WhenAreBenefitsPaid.............................................................. 20 HealthandDentalCoverage....................................................... 21 FederalandStateIncomeTaxes................................................. 21 Cost-of-LivingAdjustments......................................................... 21 SocialSecurityOffset.................................................................. 22WorkingAfterRetirement................................................................ 22AppendixA:PlansofRetirement...................................................... 25AppendixB:UnusedSickLeaveCreditConversionChart................. 26AppendixC:WorkingAfterRetirement............................................ 27DirectionstotheTRSOffice.............................................................. 28

Table of Contents

Allpersonnelemployed inapermanent statusposition,notlessthanhalf-time,withlocalboardsof education, charter schools, universities andcolleges, technical colleges, Board of Regents,county and regional libraries, RESA’s, and certainState of Georgia agencies are required to bemembersasaconditionofemployment.

Exceptions to TRS membership includeemployeesrequiredtoparticipateinanotherGeorgiaretirement plan (i.e. PSERS, ERS), employeeswhomayelecttheBoardofRegentsOptionalRetirementPlaninlieuofTRSmembership,andemployeeswhoare granted the option of membership based ontheiremploymentwithDepartmentofEducationorTechnicalCollegeSystemofGeorgia.

Temporary, less than half-time, and privateschoolemployeesarenoteligibleforTRSmember-ship.Substituteteachersareconsideredtemporaryemployeesandarenoteligible formembership inTRS.

A vested TRS member who becomes anemployeeofanemployernormallycoveredbytheEmployees’ Retirement System (ERS) may electto remainamemberof TRS. Likewise, anyvested memberof ERSwhobecomesanemployeeof anemployer normally covered by TRS may elect toremainamemberofERS.Inordertobevested,youmust have at least 10 years of creditable service.In each case, awrittenelectionmust bemade totheBoardofTrusteesoftherespectiveretirementsystemwithin60daysofsuchemploymentand isirrevocable once the election is made. Membersand their employers will be required to makethe appropriate contributions to the respectiveretirementsystem.

Certaineligibleemployeeswhoareatleastage60atthetimetheybecomeemployedinacoveredpositionmaydeclineTRSmembershipbynotifyingtheBoardofTrusteesinwritingwithin90daysafterbecominganemployee.

Members

All members contribute 6.00% of earnablecompensationtoTRSbypayrolldeductiononapre-taxbasis.Earnablecompensationisdefinedasthefullregularcompensationpayabletoamemberforhisfullnormalworkingtime.Earnablecompensationdoesnotincludesalaryforsecondaryjobssuchasnightschool.Inadditiontoyourcontributions,youremployer contributes a percentage of earnablecompensation to TRS. The employer contributionhelps fund TRS for current and future retirementbenefitsandisnotpartofanyindividualmember’saccount. Please visit our website for the currentemployercontributionrate.

In accordance with Georgia law, your TRSaccount cannot be levied, garnished or attached,andyoumaynotassignpaymentofyourbenefitstoanotherpersonorentity.Theonlyexception isthepaymentofeligiblebenefitstoyourdesignatedbeneficiariesatthetimeofyourdeath.

Neither your contributions nor interest asan active member or your monthly benefit as aretireecanbedividedthroughadivorcedecreeoraQualifiedDomesticRelationsOrder.

FormemberswhosecurrentdateofmembershipisonorafterJuly1,1996,themaximumearnablecompensation for which TRS contributions canbe reported or which can be used to calculateretirement benefits is limited by Section 401(a)of the InternalRevenueCode. Please refer toourwebsiteforthecurrentsalarylimitation.

IfyouterminateyourTRScoveredemploymentyou may apply for a refund of contributions andinterest;however, you are not eligible for a refund after you accept other TRS covered employment. Members who are not actively working in theirTRS covered positions during the summermonthsbecausetheschoolyearhasendedarenotconsideredterminated from TRS covered employment andthereforearenoteligibleforarefund.

Contributions

Contribution Limitation

Termination:Withdrawing Your Funds

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Your refund payment from TRS is a lump-sumdistributionofyourcontributionsandinterestinyourTRS membership account. Partial withdrawals andloansarenotallowed.

ThetaxableportionofyourrefundissubjecttofederalandGeorgiataxes.Todefertaxation,youmayelect a direct rollover of the taxable funds in youraccounttoanotherqualifiedretirementplan[401(a),403(a) or 401(k)]; a 403(b) tax sheltered annuity;agovernmental457plan;ora traditional,Roth,orrolloverIRA.Ifyoudonotelectarollover,federaltaxlawrequiresthatTRSwithhold20%federaltaxfromthetaxableportionofyourrefund.Youmayalsoberequiredtopayanadditional10%federaltaxifyouareyoungerthanage59½whenyouwithdrawyourfunds. TRS will not withhold the additional 10%;however, if applicable, youmaypay this taxat thetime you complete your federal tax return for theyear inwhichyou receiveyour refund.Georgia taxwithholdingfromyourrefundcheckisnotmandatoryand may be paid when you file your Georgia taxreturn.

TheApplicationforRefundofContributionsformisavailableonline.PleaselogontoyouraccountontheTRSwebsiteandcompletetheform. Youmustdownload,print,signandreturnthesummarypagealongwithacopyofyourvalididentification.Pleaserefertothesummarypagefor formsofacceptablevalidID.

Acomprehensivestatementofyouraccount ispreparedforeveryactivemembereachfiscalyearinwhichtheemployerreportedcontributions.Theindividualstatementsareavailableonlineonly.

Informationonyourstatementincludes:

• YearsandtypesofservicecreditestablishedwithTRS;

• Interest credited to your account on June30 isbasedonthepreviousyear’s June30balance(currentlyattherateof4.5%);

• Your contributions as reported by youremployer;

• Beneficiary(ies)designations;

• Purchasesofservice;and

• A projection of your benefits at normalretirement.

We encourage you to carefully review yourannual membership statement each year andinclude it in your personal financial records. Yourstatement includes amessage indicating that theinformation it contains is subject to audit andadjustment. If you feel that a discrepancy exists,please contact TRS inwriting. TRSwill investigatethe possible discrepancy and notify you of anynecessaryadjustmentsorexplanations.

One of the purposes of the statement is toallow you to review, and if appropriate, questionthe information contained in your TRS memberaccount.ThisgivesTRSadditionalassurances thatthe information contained in your TRS memberaccountisbothaccurateandcurrent.

Service Retirement Youareeligibleformonthlyretirementbenefitsbyoneofthefollowing:

• Completionof30yearsofcreditableserviceregardlessofage;

• Completionofatleast10yearsofcreditableserviceandattainmentofage60;or

• Completionofatleast25yearsofcreditableservice. If you retire under this provisionyourbenefitwillbepermanentlyreducedbythe lesserof1/12thof7% foreachmonthyouarebelowage60,or 7%foreachyearorfractionofayearbywhichyouhavelessthan30yearsofcreditableservice.

Disability Retirement Youareeligibletoapplyformonthlybenefitsifyouareanactivemember,haveatleast10yearsofcreditableserviceandarepermanentlydisabled.

Eligibility for Retirement Benefits

Your Annual Membership Statement

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Retirement Benefit Formula

yearsofmembershipservice.Theresultingproductis themonthly disability retirement benefit underPlanAMaximumplan.Thereisnoagerequirementfordisabilityretirement.

Salary Increase Limitation GeorgialawlimitstheamountofsalaryincreasesthatcanbeusedtocalculateretirementbenefitsforTRSmemberswhosecurrentdateofmembershipisonorafterJuly1,1984.These limitshelppreventsalaryspikingattheendofanindividual’scareerforthepurposeofincreasingretirementbenefits.Thesalarylimitationisdeterminedyearlyandisbasedon theappropriationsgranted for salary increasesbytheGeorgiaGeneralAssembly,plus2.5%.Pleasecontactourofficeorvisitwww.trsga.comtoobtainthecurrentsalarylimitations.

When applying the salary increase limitation,TRSdeterminesthemember’s2highestconsecutiveyearsofsalarybasedonmembershipserviceandabase year. Thebase year is the year prior to thefirstofthe2yearsofsalarythatwillbeusedinthebenefitcalculation. TRScompares the1styearofthesalary to thebaseyear salary. If the increasebetween the base year salary and the reportedsalaryforthe1styearismorethanthelawallows,the salary used for computing your retirement isadjusted to the allowable limit. Once adjusted,the2ndyearofsalaryisthencomparedtothe1styearofsalaryandadjustedifnecessarytocomplywithGeorgialaw.Ifyoursalaryincreasesarewithinthe limits, no adjustment to the salaries used tocomputeyourbenefitisnecessary.

Minimum Retirement Benefit Retired members are guaranteed a minimumretirementbenefitof$17permonthforeachyearof creditable service, to a maximum of 40 years,undertheMaximumPlanofretirement.

Service Retirement YourbenefitsfromTRSarecalculatedbyusingthepercentageofsalaryformula.Simplystated:

Your years of creditable service established with TRS, including partial years

x2% x

Your final average salary for the 2 highest consecutive years of membership service1

=Your initial monthly benefit (under Plan A Maximum)2

The maximum number of years of creditableserviceallowedis40.

Exceptasnoted in this section,any9ormoremonths of service within a fiscal year wouldconstitutea fullyearofservicecredit.Also,salaryearnedforany9ormoremonthsofservicewithinafiscalyearwouldconstituteafullyearofsalaryforpurposesofcalculatingretirementbenefits.

Academic faculty members employed by theUniversity System under a semester system areawarded a full year of service credit for any 8 ormoremonthsofservicewithinafiscalyear.Allsalaryearnedduringany8ormoremonthswillconstitutea full year of salary for purposes of calculatingretirementbenefits.

Additional information on your monthlyretirement benefit is included in the Plans of Retirementsectionofthisbooklet.

Disability Retirement Disabilityretirementbenefitsarealsocalculatedusingthepercentageofsalaryformula–2%multipliedby the total years of creditable service times thefinal average salary for the 2 highest consecutive

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1 Benefit calculation is based on the 2 highest years that produce the highest benefit—which may not be your last years worked.2 The salary used to calculate your benefit may be limited if increases in your salary are above what Georgia law and the General Assembly deem allowable. See Average Salary Limitation section below.

Since it is ultimately creditable service thatyoumust establish in order to retire, you shouldbe familiar with the following types of creditableserviceavailable.

Ifyouareeligibletoestablishservicecreditforanyservicetypelistedinthissection,pleasecontactTRS to determine the cost associated with theservice(s)youare interested inpurchasing towardyourretirement. Tobeeligibletoestablishanyofthe typesof servicedescribed in this section,youmusthaveanactiveTRSaccount.Tobeconsideredan activemember, youmust have contributed toTRSforatleast1yearinthelast5years.

Allservicecreditmustbeestablishedandpaidfor prior to retirement.Beneficiaries of deceased members cannot establish additional service credit. Itisthemember’sresponsibilitytoestablishallcredittowardretirement.

Payment of Service Purchases Youmaypayforeligibleservicepurchaseswitha personal check, money order, or with a directrolloverfromanothereligibleretirementplan.

TRS can accept a rollover from the followingplans as defined in the Internal Revenue Code: aqualifiedretirementplan[401(a),403(a),or401(k)];ataxshelteredannuity403(b);agovernmental457plan; or a traditional or rollover IRA. TRS cannotacceptarolloverfromaRothIRA.

Service may be purchased all at once or in1-yearincrements.Nopartialpaymentsormonthlyinstallmentsareaccepted.

Air Time Ifyouhaveatleast25yearsofservicecredityoumay purchase up to 3 years of additional servicecreditat retirement. Air time service can only bepurchased at the time you apply for retirement.If you withdraw your retirement application anddonot retire,TRSwill refundyourmoney foranyairtimepurchasedandyour servicecreditwillbeadjustedaccordingly.

Creditable Service ERS Withdrawn Service If you were previously a member of theEmployees’RetirementSystemofGeorgia(ERS)andwithdrewyourfunds,youmayestablishthisservicewith TRS. You are eligible to purchase your ERSwithdrawn service after you have completed therequirednumberofyearsofactiveTRSmembership.Ifyouhavewithdrawn:

• 1,2or3previousaccountsyoumustcomplete3yearsofactivemembership;

• 4 previous accounts you must complete 5yearsofactivemembership;or

• 5 or more previous accounts you mustcomplete10yearsofactivemembership.

Thecost topurchaseERSwithdrawnservice isthe total amount of employee contributions youwouldhavepaidhadyoubeenamemberofTRS,plusinterest.Interestisincreasedanadditional2%foreachwithdrawalexceeding3.

If you have not withdrawn your ERScontributions,youmaytransferyourservicecreditto TRS. ERS members and TRS members paydifferentemployeecontributionrates.Toestablishfull credit foryourERSservice,youmustpaythedifference between the amount of contributionsyoupaid toERSand theamountofcontributionsyouwouldhavepaidhadyoubeenamemberofTRS,plusinterest.IfyoutransferyourfundsfromERS and do not pay the difference, youwill onlyreceive credit with TRS for a pro-rata portion ofyour ERS credit. Full credit for transferred ERSservicewillnotbegranteduntilyouhavepaidthedifference.

To initiate a transfer of ERS credits to TRS,pleasecontactTRS inwritingstatingyourelectiontotransferthecredits.

Maternity Leave Credit YoucanpurchasecreditforperiodsofabsencefromemploymentduetopregnancypriortoMarch5, 1976.One and a halfmonthsof creditmaybeawarded for each pregnancy with a maximum of6monthsallowableforallpregnancies.Ifyoufeelyouqualifyandwanttoestablishthisservice,pleasecontactouroffice.

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Membership Service Membership service is your normal activeserviceforwhichyouwereemployedandforwhichyou have made and are making contributions toTRS.

Academic faculty members employed by theUniversity System under a semester system willreceivecredit for1yearof service if theyhaveatleast8monthsofserviceduringafiscalyear.

Allothermemberswhohaveatleast9monthsof service during a fiscal year will receive creditfor 1 year of service. Therefore, if youwork fromSeptember through May, you will earn credit for1 year ofmembership. If you are employed on a12-monthcontract,youwillreceivecreditfor1yearofmembershipserviceuponcompletionofatleast9months of service during the fiscal year endingJune30.Youmaynotreceivemorethan1yearofservicecreditduringanyfiscalyear.

Military Service Georgia law contains several provisions forthe establishment of up to 5 years of retirementcreditforperiodsofactivedutymilitaryservice inthearmedforcesoftheUnitedStates.Ifyouhavemilitary service prior to 1955, please contact ouroffice.

Credit for service rendered during periods ofnationalemergencymaybeestablishedbypaymentofthemembercontributionsyouwouldhavepaidtoTRShadyoubeenamember,basedonthesalaryyoufirstreceivedasateacherinthepublicschoolsofGeorgiaafterleavingmilitaryservice,plusaccruedinterest.Ifyouwentdirectly(within6months)fromteachingserviceinGeorgiaintoactivedutymilitaryservice,yourcostwillbebasedonyourlastannualsalarypriortoenteringmilitaryservice.

Military service may be established duringperiodsofnationalemergency,including:

• VietnamEra:August5,1964—May7,1975;and

• November14,1979—Present.

If yourdateof currentmembership isprior toMarch28,1974,youmayestablishcreditforactivedutymilitaryservicerenderedoutsidetheperiods

ofnationalemergencyunderspecificconditionsbypayingtheappropriateemployeecontributionsandinterest.Toqualify,yourcollegetrainingorteachingservice must have been interrupted by militaryserviceandyoumusthavebecomeapublicschoolteacherwithin5yearsofyourreleasefromactivemilitaryservice.

Active duty military service, other than aslistedabove,fromwhichyouhavebeenhonorablydischarged and which was rendered during anyperiod when a military draft was in effect (June24, 1948 - July 1, 1973), may be purchased bypayment of appropriate employee and employercontributionsplusinterest,basedoncompensationyoufirstreceivedasaGeorgiapublicschoolteacheraftercompletionofthemilitaryservice.

IfyourcurrentdateofmembershipisonorafterMarch 28, 1974, nomilitary service credit can beestablishedifthatservicehasbeenorwillbeusedinthedeterminationofyoureligibilityforretirementbenefitsorallowancesfromanotherstateorfederalretirementprogram,otherthansocialsecurityandthe United States civil service. Any suchmemberwho has previously established military servicecredits prior to March 28, 1974, and who laterwithdrawsfromTRSisnoteligibletoreestablishanymilitary service credit, even though the membermaysubsequentlyrepaythewithdrawnaccount.

Certain periods of ordered military serviceand qualified military service may be eligible forestablishment with TRS. Ordered military servicemustbepurchasedwithin5yearsofthemilitarydutyandqualifiedmilitaryservicemustbepurchasednolaterthan3timesthelengthoftheserviceorwithin5years,whicheverisshorter.

Specific provisions regarding the amount ofmilitaryserviceyoucanpurchase,andthedeadlinesandcosttopurchasemilitaryservicevaryunderthelaw. Todetermine the cost and your eligibility topurchasemilitaryservice,submitawrittenrequesttoouroffice,andincludealegiblecopyofyourDD214.

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Out-of-State Service Eligible teaching service rendered out-of-state with a public school system, an AmericanDependents’ School, the Bureau of Indian Affairsof theU.S.Department of the Interior and publicschoolsoftheVirginIslands,PuertoRico,Guamandthe District of Columbiamay be established withTRS.

Out-of-stateservicemayonlybeestablished iftheout-of-stateemployment,haditbeenrenderedinGeorgia,would havemade you eligible for TRSmembership. Out-of-state employment renderedwithaprivateschool,orpublicschoolemploymentthat is less than half-time, temporary or studentrelated, is not eligible to be established. Creditcannotbeestablishedifyouareeligibletoreceivearetirementbenefitforthisservice,noworinthefuture, from another state’s retirement system,county or municipal retirement system, or thefederal retirement program (excluding SocialSecurity).

Toestablishout-of-stateserviceyoumustsubmita completed Out-of-State Certification form. Thisformmustbecompletedinitsentiretybytheout-of-state employer and the respective retirementsystemfortheemployment.Documentationofout-of-stateservicemaytakemonthstoobtain,soyoushouldnotpostponethisprocessuntilyouarenearretirement.

Oncethecompletedformsarereceived,TRSwillnotifyyouofyoureligibilitytoestablishout-of-stateservice.Youareeligibletoestablish1yearofout-of-state service after you have completed 6 yearsofTRSmembership service. With thecompletionofeachadditionalyearofmembershipservice,youmay establish an additional year of out-of-stateservice,toamaximumof10years.

Thecosttoestablishout-of-stateserviceisthetotal employee and employer contributions thatwouldhavebeenpaidhadyoubeenaTRSmemberatthetime,plusinterest.Thesalaryyouearnedatthetimetheservicewasrenderedwillbeusedtocalculatethecost.

Private School Employment TRSmembersmayestablishserviceforpreviousemploymentinanaccreditedprivateschoolwithintheStateofGeorgiaprovidedthefollowingcriteriaaremet:

• The employment must have been on apermanentnotlessthanhalf-timebasiswithaprivateelementaryorsecondaryschooloranyprivate collegeoruniversity located intheStateofGeorgia;

• The private school must have beenaccreditedduringtheperiodofemploymentbytheSouthernAssociationofCollegesandSchools,theGeorgiaAccreditingAssociationoranationallyrecognizedaccreditingagencybytheStateBoardofEducation;and

• After completing 6 consecutive years asa contributing member of TRS, you mayestablish1yearofcreditforservicerenderedin an accredited private school within theState of Georgia. With the completion ofeach additional year of Georgia servicethereafter,youmayestablishanadditionalyearofprivateschoolservice,toamaximumof10years.

Amembermust provide TRSwith satisfactorydocumentation of the period of employment andthattheprivateschoolwasaccreditedduringthatperiod of employment. A Certification of GeorgiaPrivateSchoolEmploymentformisavailableonourwebsite.

The cost to purchase this service is the fullactuarial cost. You should purchase any othertypesofserviceyouareeligibletopurchasebeforepurchasingprivateschoolemployment.

PSERS Credit If you were a member of the Public SchoolEmployees Retirement System (PSERS) and youarenowamemberofTRS,youmayestablishyourPSERS service with TRS. To establish prior PSERSservice, your employermust submit a completedCertification of Georgia Service form. Your cost topurchase PSERS service will be the total amountof the employee and employer contributions thatwouldhavebeencontributedhadyoubeenaTRS

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member,plusaccruedinterest;basedonthesalaryyouearnedduringyourPSERScoveredemployment.BeforePSERS service canbepurchased, youmustwithdraw your funds from PSERS. You may notestablish service credit under dual retirementsystemsforthesametimeperiod.

Study Leave Credit You may be eligible to establish retirementcredit forperiodsof full-timegraduate study. Therequirementsare:

• Youmusthavebeenafull-timeteacherinthepublicschoolsofGeorgiaorintheUniversitySystem of Georgia immediately (not morethan6months)prior to theperiodof full-timegraduatestudy;

• Youmustreturntofull-timeemploymentasa teacher in the public schools of GeorgiaorintheUniversitySystemofGeorgiaforaminimumof5yearsfollowingtheperiodofgraduatestudy;and

• You must submit a transcript or similardocumenttoTRSasverificationofthefull-timegraduatestudyperiod.

Yourcosttopurchasestudyleavecreditisbasedontheannualsalaryyouwerereceivingforfull-timeemploymentasaGeorgiateacherimmediatelypriortotheperiodofstudyleave.Studyleaveservicemaybepurchasedbypaymentofappropriateemployeeandemployercontributions,plusinterest.

Anyperiodofeligiblegraduatestudyinterruptedsolely for a period of active duty military serviceduring a period in which the military draft is ineffectshallbedeemednottohavebeeninterruptedprovidedthemembergoesimmediately(notmorethan6months)intoactivedutymilitaryservice.

TRS Withdrawn Service If you were previously a TRS member andwithdrew your funds, you also withdrew yourservicecreditforthoseyearsandlostanyaccruedsickleavefortheseyears.Afteryouhavereturnedto active TRS membership, you may repay yourwithdrawn account(s) and reinstate the servicecredit youwithdrew. You are eligible to purchaseyourwithdrawn serviceafter youhave completed

the required number of years of active TRSmembership.Ifyouhavewithdrawn:

• 1, 2 or 3 previous accounts you mustcomplete3yearsofactivemembership;

• 4 previous accounts youmust complete 5yearsofactivemembership;or

• 5 or more previous accounts you mustcomplete10yearsofactivemembership.

Thecost topurchasewithdrawnservice is thetotalamountofmoneyyouwithdrew,plusinterest.Interest is increased an additional 2% for eachwithdrawalexceeding3.

Visiting Scholar Credit Amaximumof 2 years of service as a visitingscholar at a public college or university may beestablishedascreditableservicebymemberswhoweregrantedaleaveofabsencefromaunitoftheUniversity System of Georgia for such purpose.Suchservicemustbeincludedinthemaximumof10yearsofserviceallowableundertheout-of-stateprovisionsofTRSlaw,anditcannotbeestablishedifyouareeligibleforbenefitsbasedonthatservicefrom another source, except social security. Yourcostisbasedonyoursalaryatthetimeofmakingapplication for the service and includes theappropriateemployeeandemployercontributions,plusinterest.

Workers Compensation Disability You may be eligible to establish retirementcredit for a temporary disability caused by a job-relateddisease or accident. Themaximumperiodis 12 months and must be applied for within 6months of returning to service following thetemporarydisability.Thecostwillbetheemployeecontributionsbasedonthesalaryyouwerereceivingimmediatelypriortothedisability,plusinterest.

Documentation for proof of the temporarydisability will be required. In most cases, therequired documents will be the Employer’s First Report of InjuryformandtheNotice of Payment or Suspension of Benefits.

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YouraccountwithTRSremainsactiveprovidedyouareacontributingmemberatleast1yearoutofany5consecutiveyears.Therefore,youmayhaveabreakinyourcoveredemploymentofupto4yearsandretainyouractiveaccount.

If you are out of service for more than 4consecutiveyears,yourTRSaccountwillimmediatelybecomeinactive.Ifyouraccountbecomesinactiveitwillnotbecreditedwithadditional interestandyouwillnotbeeligibleto:

• Establishanyadditionalservicecredit;

• Repayanypreviouslywithdrawnaccounts;

• Applyfordisabilityretirement;or

• Leaveamonthlydeath-in-servicebenefittoasurvivingbeneficiary.

Ifyouraccountisininactivestatusandyouhavenotwithdrawn your contributions and you returnto TRS covered employment the service in yourinactive account will be credited to your current(active)accountafteryouhaveestablishedatleast1yearofmembershipservice.

Youmay be eligible to reinstate your inactiveaccount if you have less than 1 year of currentmembershipserviceinyourcurrent(active)account.Thecosttoreinstateyourinactiveaccountisbasedonthelengthofthebreakinservice.Foradditionalinformationonthereinstatementandcost,contactouroffice.

Thenormal4-yearperiodinwhichyoumaybeoutofcoveredemploymentandstillretainanactiveaccount may be extended by a leave of absenceapprovedbytheTRSBoardofTrustees.Allowableleavesofabsenceforthepurposeofextendingthedurationofyouractiveaccountbeyondthe4-yearperiod include maternity/adoption, illness, studyleave,andmilitaryservice.Pleasecontactourofficeorvisitourwebsitefordetailedinformation.

Membership Status

Leaves of Absence

Amemberwithat least10yearsof creditableservicehasavestedrighttoabenefitatage60.Ifyouhave10ormoreyearsofcreditableserviceandleaveaTRScoveredpositionyouwillbeentitledtoaserviceretirementbenefituponattainingage60ifyouhavenotwithdrawnyourTRScontributions.

IfyouarevestedandnolongercontributingtoTRS, it is your responsibility to apply for benefits at the time you become eligible.Youmayapplyforretirementbenefitsduringthe6-monthperiodpriortoattainingage60,butnolaterthanthemonththebenefitsaretobecomeeffective.Ifyoufailtoapplyfor benefits in the required time frame, TRS willnotpayanybenefitsbetweenthetimeofyourfirsteligibilityandthetimeofyourapplication.

If you have at least 40 years of creditableservice, you may elect to discontinue your TRScontributions.Thiselection is irrevocable.Further,youremployerisrequiredtodiscontinuedeductingretirement contributions from your salary afteryouhavecompleted40yearsofcreditableserviceand attained age 65. You may, however, sign awaiver, which will enable you to continue yourcontributions.

Ifyouwillbereceivingsalary increases, itmaybetoyouradvantagetocontinueyourcontributionssince by making contributions on the increasedsalaries,yourfinalaveragesalaryforyour2highestconsecutive years of service could be higher.Your retirement benefit will be calculated on themaximum40yearsofservicecredit.

Members who die prior to retirement with less than 10 years of creditable service. IfyouhaveanactiveTRSaccountandyouhavelessthan10yearsofcreditableserviceatthetimeof your death, your primary beneficiary(ies) willreceive a lump-sum refund of your contributionsand interest. If there is no surviving primarybeneficiary(ies),thesecondarybeneficiary(ies)will

Vesting

40 Years of Service

Survivor’s Benefits

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receive a lump-sum refund of your contributionsand interest. If your primary and secondarybeneficiariespredeceaseyouandyoudonothavenewbeneficiaries on file at TRS, a refundof yourcontributions and interest will be made to yourestate.Ifyouhavenotdesignatedanybeneficiariesandyouhaveasurvivingspouse,therefundwillbemadetoyoursurvivingspouse.

Members who die prior to retirement with 10 or more years of creditable service. If you have an active TRS account and have10 or more years of creditable service with TRSyou are vested, your primarybeneficiary(ies)maychooseeitheramonthlybenefitforlifeoralump-sum refund of your contributions and interest.The monthly benefit or lump-sum refund will bedistributed according to the percentage(s) youhavedesignatedonfilewithTRS.Amonthlybenefitpayabletothebeneficiary(ies)ofanactivememberwhodieswhileinactiveserviceisthesamebenefitthat would have been payable if the deceasedmember had retired under Plan B, Option 2 (the100%survivorshipoption).

If the primary beneficiary designated by thememberdoesnotsurvivethememberbyat least32 days, any survivor benefitswill be paid to thesecondarybeneficiary.

Ifthereisnosurvivingprimarybeneficiary(ies),thesecondarybeneficiary(ies)hasthesameoptionas a primary beneficiary(ies) to choose betweenamonthly benefit payable for life or a lump-sumrefundofyourcontributionsandinterest.

When you became a member of TRS youshouldhavereceivedcorrespondenceaskingyoutodesignateaprimaryandasecondarybeneficiaryviayouronlineTRSaccount.Georgialawrequiresthatthesettlementofyouraccountbemadeaccordingto the beneficiary designation on file in the TRSofficeatthetimeofyourdeath.Intheabsenceofabeneficiaryonfile,settlementwillbemadewiththesurvivingspouse,ifapplicable.Ifthereisnospouse,settlementwillbemadetoyourestate.Wills,divorcedecrees, remarriages, etc., do not determine thesettlement of your TRS account upon your death.

Beneficiary Updates

Therefore, should your present personal situationcallforachangeofbeneficiary(ies),youareurgedto update your beneficiary(ies) via your personalonlineTRSaccount.

When multiple beneficiaries are designated,the percentage of available benefits or lump-sumsettlement of your contributions and interest tobe paid to each beneficiary must be indicated.Thetotalpercentagepaidtoallbeneficiariesmustequal100%.Ifnopercentagesaredesignated,theavailablebenefitsor lump-sumsettlementofyourcontributionsandinterestwillbedividedequally.

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When you apply for retirement benefits youmust choose a plan of retirement. Your choicewill depend on whether you wish to receive themaximum benefit, or a reduced benefit if youwish to leave a monthly survivors’ benefit toyour beneficiary(ies) after your death. A detaileddescriptionofeachplanisoutlinedbelowandthereis a chart in Appendix A that shows some of theadvantagesanddisadvantagesofeachplan.

Please note: Once TRSmails your first benefitcheck,youcannotchangeyourplanofretirementexcept under limited conditions as covered intheChanges in Plan of Retirement section of thisbooklet.

If youdiewithin30daysof theeffectivedateof retirement, you will be considered an activemember at the timeof your death in accordancewithGeorgialaw.Youraccountwillbesettledasadeathinserviceinaccordancewiththebeneficiarydesignation(s)youhaveselectedonyourretirementapplication.

You may obtain an estimate with benefitcalculations for each retirement plan by usingany of the following methods: 1) the pensioncalculator on our website; 2) if you are within 5yearsof retirement, youmay login to youronlineTRSaccountandgenerateabenefitestimateusingcurrent data from your TRS file; 3) make a pre-retirement counseling appointment; or 4) call ourofficeandrequestabenefitestimate.

Partial Lump-Sum Option (PLOP) Inexchangeforapermanentlyreducedlifetimebenefit,youcanelecttoreceiveapartiallump-sumdistribution in addition to a monthly retirementbenefit.Yourageandplanofretirementareusedtodeterminethereductioninyourbenefit.

A PLOP distribution will be made as a singlepaymentatthetimethefirstmonthlyallowanceispaid.IfaPLOPdistributioniselected,yourmonthlybenefitisactuariallyreducedtoreflectthevalueofthe PLOP. The combination of both the PLOP andthereducedbenefitarethesameactuarialvalueastheunreducednormalbenefit.

Plans of Retirement If you are interested in electing a PLOPdistribution,TRSencouragesyoutoseekassistancefrom a financial advisor and tax professional. APLOP distribution used to enhance retirementincome or savings may merit consideration. APLOP distribution used to purchase depreciableassets or used for leisure should be given carefulconsiderationasthesepurchasesmaycompromiseyourlong-termretirementincome.

You are eligible to elect a PLOP distribution ifyoumeetthefollowingcriteria.Youmust:

• Have 30 years of creditable service or 10yearsofcreditableserviceandattainage60(notearlyretirement);and

• Notretirewithdisabilitybenefits.

At retirement, you may elect a lump-sumdistributioninanamountbetween1and36monthsof your normal monthly retirement benefit. ThisamountwillbecalculatedunderPlanA-MaximumPlan and will be rounded up and down to be amultipleof$1,000.

ForadetailedlookatthePLOP,pleasevisitourwebsite. You may also calculate your retirementpensionwithalump-sumdistributionbyusingthepensioncalculatoronourwebsite.Ifyouarewithin5yearsofretirement,youmaylogintoyouronlineTRSaccountandgenerateabenefitestimateusingcurrentdatafromyourTRSaccount.

Plan A: Maximum Plan No monthly benefit to a beneficiary. Thisplanprovidesyouwiththelargestpossiblemonthlylifetimebenefitfortheremainderofyourlife.Underthisplan,thecontributionsandinterestyou made during your active employment arereducedmonthlyfromyourgrossbenefitpayment.Inmostcases,yourcontributionsand interestwillbedepletedwithin18monthsofyourretirement.However, your monthly benefits will continue fortheremainderofyourlife.

At your death, the monthly benefits stopand your beneficiary is not entitled to receive amonthly benefit. If your death occurs before youhave received, in monthly payments, the totalamount of your contributions and interest, the

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remaining funds will be paid in a lump-sum toyourdesignatedbeneficiary.Youmaychangeyourbeneficiarydesignationsatanytimeunderthisplanofretirement.

To estimate your monthly lifetime benefit forthe Maximum Plan you may calculate it yourselfbyusingtheretirementformula(2%multipliedbyyouryearsofcreditableservice,multipliedbyyourfinal average salary for the 2 highest consecutiveyearsofmembershipsalary)oryoumayrefertothepensioncalculatoronourwebsite.Ifyouarewithin5yearsofretirement,youmaylogintoyouronlineTRSaccountandgenerateabenefitestimateusingcurrentdatafromyourTRSaccount.

Plan B: Survivorship Plans Plan B provides members with severalsurvivorshipoptions:Option1allowsyoutopossiblyleavealump-sumpayment,butnomonthlybenefit,toabeneficiary(ies)afteryourdeath;andOptions2-4 allow you to provide a continuing monthlybenefittoabeneficiary(ies)afteryourdeath.

If you select a survivorship plan, the amount of your monthly benefit will be reduced actuariallyto allow for the lump-sum payment or monthlypaymentforlifetoyourdesignatedbeneficiary(ies).

Theamountofthereductioninmonthlybenefits(costoftheoption)dependsonyourage,theageofyourbeneficiary(ies),andInternalRevenueService(IRS)regulations.Theageofthebeneficiary(ies)willinfluence the amount of your retirement benefitunderOptions2,3,and4.Forexample,theyoungeryour beneficiary(ies), the smaller your monthlybenefitwillbe(thecostoftheoptionisgreater).

If you select one of the survivorship plans ofretirement you cannot change your beneficiariesafter retirementexceptas specificallyprovidedbylaw (see the Changes in Plan of Retirement and Beneficiary Designationsectioninthisbooklet).

Plan B: Option 1Possible Lump-Sum Payment, but No Monthly Benefit to a Beneficiary Option1 allows you to possibly leave a lump-sum amount to a beneficiary(ies) in return for aslightlyreducedlifetimemonthlybenefit(fromthemaximum amount). Under this plan, the total ofyourcontributionsandinterestatthetimeofyourretirement will be reduced each month by onlythe portion of your total gross benefit made upof your contributions and interest. At your death,allmonthlybenefitsstop.However,anyremainingcontributionsandinterestwillberefundedtoyourdesignatedbeneficiary(ies)oryourestate.

Inmostcases,yourcontributionsandinterestwillbedepletedwithin10to14yearsafterretirement,butyourbenefitswillcontinuethroughoutyourlife.You may change your beneficiary designation atanytimeafterretirement.Ifyouhavenamedyourspouseasabeneficiaryandyoubecomedivorced,youmaychangeyourplanofretirement.

Plan B: Option 2Monthly Benefit to a Beneficiary Option 2 offers a reduced monthly lifetimebenefit based on your age and the age of yourbeneficiary(ies). This option provides that at yourdeath, your named beneficiary(ies), if living, willreceivealifetimebenefitatthetimeofyourdeathinaccordancewithIRSregulationsandtheagesofyourbeneficiary(ies).

You may designate multiple beneficiaries toreceive lifetime monthly benefits and specifythe percentage to be paid to each beneficiary.If 2 or more beneficiaries are designated,and one predeceases you, the percentage ofavailable benefits you selected for the remainingbeneficiary(ies) will not be adjusted. Should yourbeneficiary(ies) predecease you, your monthlybenefitwill remainunderOption2unlessyouareeligible to change your plan of retirement and/orbeneficiary(ies)asprovidedbylaw(seetheChanges in Plan of Retirement and Beneficiary Designation section).Ifyouchooseabeneficiary(s)whoismorethan 10 years younger than you,who is not yourspouse,yourbenefitmaybesubjecttotherequiredminimumdistributionrulesoftheInternalRevenueService. These rules regulate the amount of your

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pension that can be distributed to a survivor. Formore information, please visit ourwebsite or calltheTRSoffice.

Plan B: Option 2 Pop-UpMonthly Benefit to a Beneficiary TheOption2Pop-Upoffersareducedmonthlylifetimebenefitbasedonyourageandtheageofyourbeneficiary.Ifyoupredeceaseyourbeneficiary,your beneficiary will receive a lifetime benefit inaccordancewithIRSregulationsandtheageofyourbeneficiary. If your beneficiary predeceases you,yourmonthly benefitwill increase to the originalMaximumPlanamount,plusallincreasesawardedto you during retirement. Under this option, you may only designate 1 beneficiary. If you choose abeneficiary(s)who ismore than10years youngerthanyou,whoisnotyourspouse,yourbenefitmaybe subject to the required minimum distributionrulesof the InternalRevenueService. These rulesregulate the amount of your pension that can bedistributed to a survivor. For more information,pleasevisitourwebsiteorcalltheTRSoffice.

Plan B: Option 3Monthly Benefit to a Beneficiary Option 3 offers a reduced monthly lifetimebenefit based on your age and the age of yourbeneficiary(ies).Thisbenefitprovides thatatyourdeath, your named beneficiary(ies), if living, willreceive a lifetime benefit comparable to 50% ofyourbenefitamountat thetimeof yourdeath inaccordance with IRS regulations and the ages ofyourbeneficiary(ies).

You may designate multiple beneficiaries toreceive lifetime monthly benefits and specify thepercentagetobepaidtoeachbeneficiary.If2ormorebeneficiariesaredesignated,andonepredeceasesyou, the percentage of available benefits youselected for the remaining beneficiary(ies) willnot be adjusted. Should your beneficiary(ies)predecease you, yourmonthly benefitwill remainunder Option 3 unless you are eligible to changeyour plan of retirement and/or beneficiary(ies) asoutlinedinthesectionChanges in Plan of Retirement and Beneficiary Designation.

Plan B: Option 3 Pop-UpMonthly Benefit to a Beneficiary TheOption3Pop-Upoffersareducedmonthlylifetimebenefitbasedonyourageandtheageofyourbeneficiary.Ifyoupredeceaseyourbeneficiary,your beneficiary will receive a lifetime benefit inaccordancewithIRSregulationscomparableto50%of the amount youwere receiving at the date ofyour death. If your beneficiary predeceases you,yourmonthly benefitwill increase to the originalMaximumPlanamount,plusallincreasesawardedto you during retirement. Under this option, you may only designate 1 beneficiary.

Plan B: Option 4Monthly Benefit to a Beneficiary Option 4 offers a reduced monthly lifetimebenefitinexchangefortheflexibilitytodesignateaspecificdollaramountoraspecificpercentageofyourmonthlybenefittobepaidtoyourbeneficiary(ies)after your death. The beneficiary benefits youspecifyunderthisplancannotcauseyourmonthlybenefittobereducedbelow50%ofthemaximumbenefitandwillbecomputedinaccordancewithIRSregulations.Ifmultiplebeneficiariesaredesignatedand 1 or more beneficiaries predecease you, thedollaramountsorthepercentagesarenotadjusted.Beneficiaries also receive a prorated share of anycost-of-livingincreasesyoureceiveduptothedateofdeath.

Monthly benefits under Option 4 are alsocalculatedactuariallyusinganamountofsurvivor’sbenefitspecifiedbythemember.TRSwillcalculateyourbenefitsunderOption4andprovideanestimateofyourmonthlybenefituponrequest.Ifyouchooseabeneficiary(s)whoismorethan10yearsyoungerthanyou,whoisnotyourspouse,yourbenefitmaybe subject to the required minimum distributionrulesof the InternalRevenueService. These rulesregulate the amount of your pension that can bedistributed to a survivor. For more information,pleasevisitourwebsiteorcalltheTRSoffice.

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Primary and Secondary Beneficiaries atRetirement When you retire and select your plan ofretirement, you will also be selecting a primaryand secondary beneficiary(ies). You may changethebeneficiariesyouselectedasanactivememberwhen you apply for retirement. In retirement, asecondarybeneficiaryiseligibletoreceivearefundof remaining contributions and interest, butnot a monthly benefit,uponthedeathofthememberandprimarybeneficiary(ies).

Whencompletingyourretirementapplicationyoumustdesignateaprimaryandsecondarybeneficiary.Primary and secondary beneficiaries cannot be thesameperson.

If you select Plan A or Plan B: Option 1, youhaveselectedaplanwhichprovidesforapossiblelump-sumrefundofanyremainingfunds.Youmaydesignate 1 or more beneficiaries and you maychange your beneficiaries at any time as long asthereremainsmoneytoberefunded.Shouldyourbeneficiary(ies) predecease you, you may selectanother.If,atyourdeathandifyourbeneficiary(ies)is also deceased, TRS will refund any remainingfundstoyourestate.

IfyouselectPlanB:Option2,2Pop-Up,3,3Pop-Up,or 4, youhave selectedaplan thatprovides amonthly benefit to your primary beneficiary(ies).In very limited cases, as described below, you canchangeyourbeneficiary.

When choosing one of these plans, youmustselectbothaprimaryandsecondarybeneficiary(ies).Asecondarybeneficiary(ies) isprovided toensurethat in the event of your death and the death ofyourprimarybeneficiary(ies)anyremainingfundsinyouraccountwillberefundedinalump-sumtothesecondarybeneficiary.Forthiscalculation,thetotalamount of your contributions and interest at thedateofyourretirementisreducedmonthlybythegrossbenefitreceivedbyyouandsubsequentlyyourbeneficiary.Ifyourprimarybeneficiarypredeceasesyouandifanyofyourcontributionsandinterestareremainingatyourdeath, theywillbe refunded toyoursecondarybeneficiary.Ifyoupredeceaseyourprimary beneficiary, at the death of your primarybeneficiary,anyremainingcontributionsandinterestwillberefundedtoyoursecondarybeneficiary.

Changes in Plan of Retirement andBeneficiary Designation If you select a survivorship option, you maychangeyourplanofretirementoryourdesignationof beneficiary(ies) only under the followingcircumstancesasspecificallystatedinTRSlaw:

• If your beneficiary(ies) is to receive asurvivors’benefitafteryourdeathandyourbeneficiary(ies) predeceases you, youmaychange your plan of retirement and youmay designate a different beneficiary(ies).Ifyouchoseasurvivorshipoptionandwishto change your plan of retirement, youmust choose another survivorship option,unlessyouchoseapop-upoption,inwhichcase you could choose the MaximumPlan. Changing your plan of retirementand/or beneficiary(ies) will result in therecalculationofyourbenefit.

• If your spouse is the sole beneficiary andwill receive a survivors’ benefit after yourdeath and you become divorced, youmaychange your plan of retirement and youmaydesignateadifferentbeneficiary.Ifyouwishtochangeyourplanofretirement,youmaychooseanotherretirementplanofferedby TRS. Changing your plan of retirementand/or beneficiary(ies) will result in therecalculationofyourbenefit.

• Ifyouterminateyourretirement,becomeamemberagainandsubsequentlyretire,youmayselectadifferentplanofretirementanddesignate a different beneficiary(ies) uponyourre-retirement.Anewbenefitestimatewillbegenerateduponre-retirement.

TRS recommends that you obtain a benefitestimatepriortochoosinganewplanofretirementand/ornaminganewbeneficiary(ies).

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This section acquaints you with essentialinformationtoassistyouwithretirementplanning.Youareurgedtocontactourofficewellinadvanceof your retirement date for an estimate of yourbenefitsandtodiscussanyquestionsyoumayhaveconcerningthedifferentplansofretirement.

Unused Sick Leave Atretirement,TRSmemberscanestablishcreditfor unused sick leave earned with current andprevious employers.Amember can receive creditforunusedsickleaveatretirementonlyifheorshehasnotreceivedpaymentofanykindfortheleave.

Attendance incentives of any amount paid atany point during employment can reduce unusedsick leavedays reported to TRS for service credit.Programs that offer multiple payment amountsbasedonthenumberofsickdayswill reducesickleavedaysreportedtoTRS.Paymentsbasedonanyattendanceincentiveprogramofferedthroughyourschool system that are not based on any variablenumber of sick leave days are allowed, and thenumberofunusedsickleavedaysreportedtoTRSwouldnotbeaffected.

Unusedsickleavecreditcanbecountedtowardscreditable service at the time of retirement. Thisincludes sick leave granted for all TRS coveredemployment. You may establish sick leave creditprovidedyouhaveaminimumof60daysofunusedsick leave forwhich you have not beenpaid. Therequired60daysmay includeTRS calculateddaysfor periods where no records are available. Nocreditcanbeestablishedifyoudonothaveatleast60daysofunused,unpaidsickleave.

Limitations Unused sick leave credit is allowed only forGeorgia teaching service, including repurchasedwithdrawn TRS accounts and service transferredfromalocalretirementplan.Georgialawdoesnotallowunusedsickleavecredittobegrantedbasedonotherservice(i.e.out-of-state,ERS,PSERS,etc.)youmaybeeligibletoestablish.

Sickleaveaccumulatesatamaximumrateof1-¼dayspermonthandhasamaximumannualaccrualbased on your contract type. If you worked in asystemthatawardsmorethan1-¼dayspermonth,

yourearned totalwillbe reducedbyTRS tomeetthisstandard.Ifyouworkedinasystemthatawardslessthan1-¼dayspermonth,noadjustmentwillbemade.Memberswithquestionsregardingsickleaverateofaccrualshouldcontacttheiremployer.

Sickleavecreditisaddedtoyourtotalcreditableserviceat thetimeofyourretirementandcannotbe used to attain a vested status. Credit forunused sick leave can be used to attain 25 yearsofserviceforanearlyretirementor30yearsforanormalretirement.Totalcreditableserviceusedtocalculatearetirementbenefit,includingsickleave,cannotexceed40years.

Procedure Anyemployers,pastorpresent, thatyouwishtopursueunusedsickleavecreditwith,mustcertifythetotalunusedsickleavebalancebyusingeitherour online sick leave certification process, or bysubmitting an Sick Leave Certification form. Theonline sick leave certification process is now partof the online retirement application process. Thisprocessisdesignedtomakeitquickerandeasierforourretiringmemberstorequestunusedsickleavecertification(s)fromemployer(s).Eachemployerisresponsible for reporting to TRS anddetailing theunused sick leave or verifying its lack of records.Foryearswhererecordsarenotavailable,TRSwillcalculateastatisticalaveragefromtheperiods forwhichanemployerdoeshavetherecordsandapplythataveragetothoseperiodsforwhichrecordsdonotexist.

Please refer to the TRSwebsite for additionalinformation regarding calculating sick leave whenrecordsdonotexist.

Awarding of Credit Unused sick leave credit is awarded on thebasisof1monthofserviceforeverytwentydaysofunusedsickleave.Ninemonthsofsickleavecreditequal1yearofservice

TRSwillcalculatesickleavecreditafterreceivingall Sick Leave Certification forms. Your currentemployermust submit theonline formafter yourlast day of work. If you had multiple Georgiaemployers, you may request that the previousemployers submit paper Sick Leave Certificationformspriortoyourretirementdate.

Retirement

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NOTE:Amemberwhowill beusing sick leavecredit to reach a penalty free retirement status,(i.e. a member with 29 years of service and 1yearofunusedsickleavecredittoobtain30yearsof service,) is encouraged to contact TRS for anestimateofhisorherunusedsickleavecreditpriorto retirement. In order to provide an estimate ofunusedsickleave,SickLeaveCertificationformswillberequiredfromallGeorgiaemployers.Inthiscase,the current employer would submit an estimatedbalanceofunusedsickleaveforthecalculationandthensubmitafinalbalanceaftertheretirementdate.

Inordertoissuethefirstmonthlybenefittimely,amembermaybegin receiving amonthly benefitpriortotheapplicationofsickleavecredittotheiraccount.Inthisinstance,thebenefitwillbeadjustedretroactivelytothemember’sretirementdateuponreceipt of forms from all employers. A sick leavecreditconversionchartisincludedinAppendixB.

Effective Date of Retirement Your effective date of retirement can be noearlierthan:

• The first of the month in which yourretirementapplicationisreceivedbyTRS;

• The first of the month following theestablishmentofenoughcreditableserviceforeligibility;and

• The first of the month following yourterminationfromaTRScoveredposition.

How to Apply for Service Retirement You must apply for service retirement onlineviayourTRSpersonalaccount.Werecommendyoubegin theprocess6monthsprior to thedateyouwishtoretire.Thisgivesyouandyouremployer(s)ampletimetogetallofthenecessaryinformationintoTRSforthetimelyprocessingofyourretirement.

YourapplicationforserviceretirementmustbereceivedbyTRSnolaterthantheendofthemonthinwhichyourretirementistobecomeeffectiveandnoearlierthan180days(6months) inadvanceoftheeffectivedateofyourretirement.Forexample,ifyouwishtoretireJuly1styoumaysubmityourapplicationnoearlierthanJanuary1standnolaterthanJuly31st.Althoughwewillacceptapplicationsattheendofthemonthinwhichyouwishtoretire,wedonotrecommendwaitinguntilthelastminute.

If you are eligible to establish service creditotherthanmembershipservice(i.e.military,out-of-state,study leave,etc),thenyoumustdosopriortotheeffectivedateofyourretirement.Onceyourretirement becomes effective, you are no longereligible to establish any additional service credittowardyourretirement.

Online Application (Service Retirement) Theonlineapplicationcontainseverythingyouneedtoapplyforretirement.Toapply,logintoyourTRSaccountandclicktheApply for Retirementtab.

Once you begin the online process, you have45 days to complete your application. Should45 days lapse before you complete the process,the application is void and you must begin theprocessagain. Onceyouhavecarefully reviewedyour application, and are 100% sure about yourretirement plan selection, you may submit yourapplication.Oncesubmitted,youwillnotbeabletomakechangesonline.Changescanonlybemadebycompletingtheapplicableformsorsubmittingtherequest inwriting prior to the processing of yourretirement.

In addition to the information you provideonline,thereareadditionalstepsyoumustcompletebeforeyourapplicationcanbeprocessedbyTRS.

• You must print, complete, sign, notarize,and return theAffidavit of Residency formtoTRS.This form must be NOTARIZED.

• Youmustprint,sign,andreturntoTRStheRetirement Application Summary providedaftertheonlineprocessiscomplete.

• Youarerequiredtosubmitaphotocopyofpersonal identification containing the dateofbirthforyourselfandyourbeneficiaries.AcceptableformsofidentificationarelistedontheTRSwebsite.

• Upon submission of the online retirementapplicationyouremployerwillbenotifiedtocompletetheonlineEmployerCertificationform(TRS-8)andsubmittoTRS.

• If you have unused sick leave, you mustcompletetheonlinesickleaveportionoftheretirement application. Once completed,

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youremployer(s)willautomatically receivenotification that they must certify yourunused sick leave. Pending approval,your monthly benefit will be adjustedretroactivelyforanyunusedsickleavecreditappliedtowardyourretirement.

• If you elected Plan B Option 4 as yourretirement plan, you must complete thePlan B Option 4 Beneficiary Designation formandreturnittoTRS.

TRScannotprocessyourretirementapplicationuntil ALL necessary forms and documentationhavebeenreceived.Also,thesooneryouestablishservice credit, such as out-of-state service credit,thelessitwillcost.

How to Apply for Disability Retirement A TRS active member who is mentally orphysicallydisabled,andwhohasat least10yearsofcreditableserviceiseligibletoapplyforDisabilityRetirement. The inability to satisfactorily performcurrent work duties due to health reasons is themajorfactorindetermining“disability.”

The processing of applications for disabilityretirement can be a lengthy process dependingon how long it takes your health care providersto submit yourmedical records. Oncewe receivecompletemedical records from all of your healthcare provider(s), your records will be referred toourMedical Board for review. TheMedical Boardwillrecommendeithersupportingordenyingyourdisabilityretirement.Themoremedicaldatayoucanprovide, themore information theMedical Boardwillhaveonwhichtobaseitsdecision.TheMedicalBoardmayrequestanadditionalmedicalexaminationand/ortest.Ifsuchanexaminationortestisrequired,itwillbeattheexpenseofTRSandeveryeffortwillbe made to schedule this appointment as close aspossibletoyourareaofresidence.

There are two ways to apply for disabilityretirementwithTRS: theonlineapplicationor thepaperapplication.Weencourageyoutoapplyonlineas itexpedites theprocessandhelps toeliminateerrorsthatmaydelayprocessingyourretirement.

YourapplicationfordisabilityretirementcannotbeacceptedbyTRSmorethan90daysinadvanceoftheeffectivedateofretirement.Yourretirementcannotbeeffectiveanyearlierthanthebeginningofthemonthinwhichwereceiveyourcompletedapplication. You cannot receive a disabilityretirement benefit for any month during whichyou were actively employed. For example, if youwishtoretireJuly1styoumaysubmityouronlineapplication no earlier than April 1st and no laterthanJuly31st.Althoughwewillacceptapplicationsattheendofthemonthinwhichyouwishtoretire,wedonotrecommendwaitinguntilthelastminute.

If you are eligible to establish service creditotherthanmembershipservice(i.e.military,out-of-state,study leave,etc),thenyoumustdosopriortotheeffectivedateofyourretirement.Onceyourretirement becomes effective, you are no longereligible to establish any additional service credittowardyourretirement.

Online Application (Disability Retirement) Theonlineapplicationcontainseverythingyouneedtoapplyforretirement.Toapply,logintoyourTRSaccountandclicktheApply for Retirement tab.

Once you begin the online process, you have45 days to complete your application. Should 45days lapse before you complete the process, theapplicationisvoidandyoumustbegintheprocessagain. Once you have carefully reviewed yourapplication,andare100%sureaboutyourretirementplan selection, you may submit your application.Oncesubmitted,youwillnotbeabletomakechangesonline.Changescanonlybemadebycompletingtheapplicableformsorsubmittingtherequestinwritingpriortotheprocessingofyourretirement.

In addition to the information you provideonline,thereareadditionalstepsyoumustcompletebe-foreyourapplicationcanbeprocessedbyTRS.

• You must print, complete, sign, notarize,and return theAffidavit of Residency formtoTRS.This form must be NOTARIZED.

• Youmustprint,sign,andreturntoTRStheRetirement Application Summary providedaftertheonlineprocessiscomplete.

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• Youandyourphysiciansmustcompletethefollowingmedicalforms:

1. Physician’sReport2. Member’sListofDisability

Information3. Psychiatrist’s,Psychologist’s,or

Counselor’sReport(ifapplicable)4. Hospital/ClinicReport

• Youarerequiredtosubmitaphotocopyofpersonal identification containing the dateofbirthforyourselfandyourbeneficiaries.AcceptableformsofidentificationarelistedontheTRSwebsite.

• Upon submission of the online retirementapplicationyouremployerwillbenotifiedtocompletetheonlineEmployerCertificationform(TRS-8)andsubmittoTRS.Submittinga paper Disability Retirement Applicationrequires you to send the Retirement Certificationformtoyourlastemployerforcompletion and submission to TRS. Yourretirementapplication isnotcompleteandyour benefits cannot be calculated untilyouremployersubmitsthisform.

• If you have unused sick leave, you mustcompletetheonlinesickleaveportionoftheretirement application. Once completed,youremployer(s)willautomatically receivenotification that they must certify yourunused sick leave. Submitting a paperDisability Retirement Application requiresyoutosendaSick Leave Certification formto your current and previous employersforcompletionandsubmissiontoTRS.Youmaysend theSickLeaveCertification formto your previous employers at any timeprior to retirement.However, your currentemployer can only submit this form toTRS after your last day of work. Pendingapproval, your monthly benefit will beadjusted retroactively for any unused sickleavecreditappliedtowardyourretirement.

• If you elected Plan B Option 4 as yourretirement plan, you must complete thePlan B Option 4 Beneficiary Designation formandreturnittoTRS.

All forms are available on our website. Werecommend that you begin soliciting themedicalinformation from your doctors, and any servicepurchases, well in advance of your retirementbecause TRS does not have any control over thereceiptofinformationfromthirdparties(i.e.currentorpreviousemployers,doctors,armedforces,etc.).TRS cannot process your retirement applicationuntil ALL necessary forms anddocumentation arereceivedfromallrequestedparties.

Paper Application (Disability Retirement Only) Ifyouchoosetoapplyfordisabilityretirementonpaper,youcandownloadfromtheTRSwebsitetheDisability Retirement Package,which containsvaluable information about disability retirementandalloftheformsneededtoapply.Toexpeditetheprocessandhelpeliminateerrors,werecommendapplyingonlineviayourTRSpersonalaccount.

When are Benefits Paid? Your first retirement benefit payment will bea paper check and will be processed on a “NewRetirement Payroll” which is normally scheduledforthemiddleof theeachmonth.Forexample, ifyou are a July 1st retiree youwill be issued yourfirstbenefitpayment in themiddleof July.Futurebenefitpaymentswillbetransferredelectronicallyintoyouraccountonthefirstbusinessdayofeachmonth.Becausebenefitsarepaidinadvance,atthefirstofthemonthratherthanattheendofthemonth,yourbenefitcannotbeissuedtoyouanyearlier.

In order for a retirement application to beprocesseditisimperativethatyouronlineretirementapplicationandapplicablepaperworkbesubmittedasfarinadvanceaspossible.DuetothelargevolumeofmembersretiringinthesummermonthsofJune,JulyandAugust,youronlineretirementapplicationshouldbesubmittedbytheendofMarchforyourfirstbenefittobeissuedintheeffectivemonthofyourretirement.MemberswhosubmittheironlineretirementapplicationandpaperworkaftertheendofMarchwillhavetheirretirementsprocessedonafirstcome,firstservedbasis.Westronglyencourageallretiringmemberstosubmittheironlineretirementapplicationearlyintheyear.

For retirees other than summer retirees youronline retirement application must be receivedat least30dayspriortotheeffectivedateofyour

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retirement for your first benefit payment to beissuedintheeffectivemonthofyourretirement.

If theprocessingofyourretirement isdelayedbeyond your retirement effective date, it will beprocessed on another month’s New RetirementPayrollandbenefitspaidwillberetroactivetoyoureffectiveretirementdate.

State Health Benefit Plan TRSdoesnotadministerheathcarebenefitsforretirees. Upon notification from the State HealthBenefitPlan,TRSwilldeductthemonthlypremiumfromyourbenefitpaymentforthoseretireeswhohave been approved for coverage. TRS does notdetermine eligibility for participation in the plananddoes not provide informationon thefiling ofclaims.SpecificquestionsregardingtheDepartmentofCommunityHealth,StateHealthBenefitPlancanbe addressed by visiting their website www.dch.georgia.gov.

Board of Regents Health Plan TRSdoesnotadministerhealthcarebenefitsforretireesoftheBoardofRegentsanddoesnotdeductthemonthlypremiumfromyourbenefitpayment.For detailed information on health coverageincludingeligibilityandclaims,pleasecontactyourformeremployerortheBoardofRegents.

Dental Coverage TRSdoesnotadministeranydentalbenefitsforretirees.IfyouremployerparticipatesintheStateofGeorgiaFlexibleBenefitsProgram,TRSwilldeductthemonthlypremiumfromyourbenefitpaymentifyourenrollmenthasbeenapprovedbytheFlexibleBenefitProgram.

If you are eligible and wish to participate inthe dental coverage after retirement, you shouldcomplete an enrollment and payroll authorizationformpriortoyourretirement.ThecompletedformsaretobesubmittedbyyouremployertotheofficeoftheFlexibleBenefitsProgram,nottotheTRSoffice.

TRSdoesnotdetermineeligibilityforparticipationin the plan and does not provide information orforms required for enrollment in the plan. Pleasevisit the Human Resources Administration link atwww.doas.ga.govforadditionalinformation.

Federal and State Tax Withholding Amajorportion(usually95-98%)ofthebenefitsyoureceivefromTRSaresubjecttofederalincometax. During the retirement process, you mustdesignateyourwithholdings.Thecalculationoftheexacttaxableamountandthemonthlynon-taxableexclusion amount is made during the regularprocessing of your retirement. This calculation isbasedonIRStablesandregulationsandyourage.Once the total ofmonthly non-taxable exclusionsequalsthetotaloftaxedcontributionsmadetoTRS(contributions to TRS after July 1, 1987 have not been taxed), thefullmonthlybenefit issubjecttofederaltax.

Federal law requires automatic withholdingof incometaxfromthetaxableretirementbenefitunless you elect nowithholding. The IRS requiresTRSto informyouthat if theelectionismadenottohavetaxwithheldfromyourretirementbenefit,youmayberesponsible forpaymentofestimatedtax.Youmayincurpenaltiesundertheestimatedtaxrules if withholdings and estimated tax paymentsarenotsufficient.

Themonthly benefits from TRS are subject toGeorgia income tax for Georgia residents. Duringthe retirement process, you must designate yourwithholdings.Ifyouarearesidentofanotherstateyou should contact that state’s Department ofRevenue regarding the tax status of your Georgiabenefits. You may change your federal or statewithholdingsatanytimeviayouronlineretireeTRSaccountorbysubmittingtheapplicablewithholdingformtoTRS.

YouwillreceiveanIRSform1099ReachJanuarydetailing the benefits paid to you, the taxableamount of the benefits, and any taxes that werewithheldforyouruseinfilingyourannual incometax returns.Additional information tobeused fortax purposes is provided to you with your firstretirementpayment.

Cost-of-Living Adjustments Cost-of-living adjustments (COLAs) are basedon increases or decreases in the Consumer PriceIndex(CPI)andarenotautomaticallygranted.IfthecurrentaverageCPIisequaltoorgreaterthantheaverageCPIatthetimeyouretired,youwillreceive

21

a1.5%COLA.IfthecurrentaverageCPIislessthantheaverageCPIatthetimeyouretired,youwillnotreceiveaCOLA.

COLAsaregrantedeachJanuary1standJuly1sttoeligibleretirees.InadditiontotheCPI,yourfirstCOLAisbasedonyourretirementdate.IfyourdateofretirementisbetweenJuly1standDecember1st,youmay be eligible to receive your first COLAonthesubsequentJuly1st.Forexample, ifyouretireOctober 1st, the first date youmay be eligible toreceiveaCOLAisthefollowingJuly1st.

If your date of retirement is between January1st and June 1st, you may be eligible to receiveyourfirstCOLAonthesubsequentJanuary1st.Forexample,ifyouretireMarch1st,youmaybeeligibletoreceiveyourfirstCOLAthefollowingJanuary1st.

Beneficiariesofdeceasedretireeswhoreceiveamonthlybenefitpaymentwillcontinuetoreceivethe COLAs that the retired member had beenreceiving,andwillcontinuetoreceiveCOLAseachJanuaryandJulyifeligible,subjecttotheconditionsoutlinedabove.

If you retire on a service retirement with lessthan30yearsofcreditableserviceandareunderage60, youmaybe eligible to receive yourfirst COLA,subject to theconditionsoutlinedabove,afteryouattainage60oryouwouldhaveobtained30yearsofcreditableservice,whicheveroccursfirst.

Social Security Ifyouremployerdoesnotparticipate inSocialSecurity, the pension you receive from TRS mayreduce your Social Security benefits. The benefitsyou may receive from Social Security in no wayaffect yourbenefits fromTRS. Your social securitybenefitcanbereducedinoneoftwoways.

Oneiscalledthe“governmentpensionoffset,”and applies only if you receive a governmentpensionandareeligibleforSocialSecuritybenefitsasaspouseorwidow(er).Theotherway iscalledthe “windfall eliminationprovision,” and it affectshowyourretirementordisabilitybenefitfromSocialSecurityiscalculatedifyoureceiveapensionfromwork not covered by Social Security. The formulaused to figure your benefit amount from SocialSecurityismodified,givingyoualowerbenefit.

Working AfterRetirement

22

TRS does not determine eligibility for SocialSecurity benefits. Specific questions regarding thesocial security offset should be addressed to theSocial SecurityAdministration via theirwebsite atwww.ssa.govorbycalling(800)772-1213.

IfyouplantoworkinapositioncoveredbyTRSafter you retire, it is important that you read thefollowinginformationandnotifyTRSofyourplansimmediately. Youhave theability tobeemployedunder certain terms and conditions stated belowandinthechartinAppendixC.

Allemploymentasa teacher,whetherdirectlyor indirectly (i.e. independent contractor, privatetemporary company, etc.)with a TRS employer issubjecttosalaryandservicelimitationsasoutlinedinGeorgia lawandTRSpolicy.Theemployermustcertify employment of TRS retirees via the onlinereportingprocess.

If your re-employment makes you eligible forState Health Benefit Plan (SHBP) coverage as anactiveemployee,SHBPmayrequireyoutoterminateretireecoverageandenroll intoplansavailableforactiveemployees.ContacttheSHBPfordetails.

Auditing of Retiree Accounts TRS reviews all retiree employment on amonthly basis, just as it does all activemembers.Additionally, TRS performs detailed audits ofTRS retirees’ employment records from both theDepartmentofAuditsandtheDepartmentofLabor.Alldiscrepanciesareinvestigatedand,ifnecessary,benefitpaymentsterminatedand/orfundscollectedforbenefitswrongfullypaid.

No Pre-Existing Agreement Georgia law requires employers to certify thedate the employee’s employment is or will besevered and that no agreement exists to allowthe employee to return to service. This includesemploymentasanindependentcontractor.

No Working Immediately After Retirement Anyreturntoemploymentorrenderingofanypaid service, including service as an independentcontractor, for any employer during the calendarmonth of the effective date of retirement shallrendertheseveranceinvalidandvoidtheapplicationforretirement.

Georgia law requires a break-in-service of atleast1month. Ifyourretirementdate is July1st,youcanbeginworkingnoearlierthanAugust1st.If an employer employs you during themonth ofyour effective date of retirement, your employermust reimburseTRS forbenefitspaid to youuntilyoucomplywith the1monthbreak. If you fail toinform your employer of your effective date ofretirement,thenyoumayberequiredtoreimburseyour employer for the retirement benefit(s) theemployerreimbursedTRS.

Allowable Employment: Service RetireesFull-Time Employment

• Private School Teaching• Teaching in a state other than Georgia• Employment in the Private Sector

(See Contractual Employment below)

• Self-Employment (See Contractual Employment below)

• Temporary Employment: You may beemployed in any temporary full-timeposition for three calendar months in afiscal year and continue receivingmonthly

benefit payments. The full-time positionmust be paid at the normal contractedcompensation. The three months do nothavetobeconsecutive.

• Optional Retirement Plan (Board of Regents only):If youdidnot retire fromapositionunderBoardof Regents, you are eligible toworkfull-time at a Board of Regents institutionwithoutjeopardizinganybenefitpayments.Inordertodoso,youmustelecttheOptionalRetirementPlan(ORP)mandatedbytheBoardofRegentswithin60daysofemployment.

• ERS/PSERS: (Technical College System of Georgia Only):If youdidnot retire fromapositionundertheTechnicalCollegeSystemofGeorgia,youareeligibletoworkfull-timewithatechnicalinstitutionwithoutjeopardizinganybenefitpayments. You must elect ERS or PSERSwithin30daysofemployment.

Part Time - Hourly & Salaried ATRSretireewhoretiredonaserviceretirementmay return to work as a teacher on a less thanhalf-timebasis. Ifworkinglessthanhalf-time,thehourly rate or salary cannot exceed 49% of thecompensationthatwouldnormallybepaidtoyouif youworkedona full-timebasis in theposition.Forhourlypositions,TRShaspublishedascheduleofmaximumhoursthatyoumayworkduringeachmonth of the fiscal year on our website, www.TRSGA.com. For salaried positions, you cannotexceedworking49%of the full-timestatusof theposition.

Contractual Employment If you are engaged in an independentcontractingrelationship,oremployedbyaprivateentitydoingbusiness,withaTRScoveredemployerin a position which would normally be held by ateacher as determined by the Board of Trustees,your compensation is limited to½of the averageannual compensation used to calculate yourretirementbenefitoryourfinalsalaryatthetimeofyourretirement,whicheverisgreater.

A copy of the independent contract must besubmittedtoTRSpriortotheeffectivedateofthecontract. For employmentwith any private entity(e.g. partnership, corporation, temp agency, etc.)as a teacher, documentation of your duties and

23

responsibilities with the entity and the retiree’srelationshipwith the TRS covered employermustbesubmittedtoTRS.

Other• Classroom Aide (Board of Education only): You

maybeemployedasaclassroomaide inaless than full-time capacity. The full-timestatusforaclassroomaideisdeterminedbyyouremployer.

• Substitute Teaching (Board of Education only):Ifyouretiredonaserviceretirement,youmayengage in unlimited substitute classroomteaching inGeorgiawithout suspension orreductionofyourretirementbenefits fromTRS provided you are compensated as asubstituteteacheratthedailyrateofpay.

• Adjunct Professors (Board of Regents and Technical College System of Georgia only):Youmaybe employed as an adjunct professor in afull-time capacity on an unlimited basis atthehistoricalrateofpay.Thesepositionsarenoteligibleforbenefits.

Allowable Employment: Disability Retirees If you retired on a disability retirement,Georgia law places strict salary limitations ondisability retirees. ALL employment, includingself-employment, must be reported to TRS priorto accepting the employment. TRS will monitoryour employment and income on a regular basisand reduce yourmonthly benefit if necessary forcompliance with Georgia law. Before acceptinganypost-retirementemploymentasaTRSdisabilityretiree,contacttheTRSofficefordetailedguidanceandinstructions.

Suspend or Terminate Benefit Payment Ifyoureturntoworkinapositionthatdoesnotallowyoutocontinuereceivingyourmonthlybenefitpayment,youwillhavethechoicetoterminateorsuspendyourretirement.

Terminate Ifyouchoosetoterminateyourretirement:

• Yourmonthlybenefitpaymentswillstop;• COLAsarenotappliedtoyourbenefitduring

theterminationperiod;

• You will become an active TRS memberwith applicable employee and employercontributions being made on your behalfbasedonyoursalary;and

• Youwillaccrueadditionalservicecredit.• You must work a minimum of 4 service

months. Itmaybetoyouradvantagetoterminate,ratherthansuspendyourretirementbenefit.Terminationof your benefit allows you to accrue additionalservicecreditandsalaryinanefforttoincreaseyourmonthlybenefitpayableuponyour re-retirement.Youmustapplyforre-retirementbenefitsthroughyour online account. Your new retirement benefitwillbecalculatedusingthebeneficiarydesignationandtheplanofretirementselectedatre-retirement,whichwillapplytoallperiodsofemployment.Ifyouareconsideringterminatingyourretirement,pleasecontact TRS to determine more thoroughly howyourretirementbenefitmaybeaffected.

IfyoureturntoworkinaTRScoveredpositionfor 2 years, you may repay the total monthlybenefitpaymentsthatwerepaidtoyouduringyourretirement,plusinterest.Atthetimeyoure-retire,yournewbenefitpaymentwillbecalculatedbasedonallTRScreditableserviceyears.

Suspend Ifyouchoosetosuspendyourretirement:

• Yourmonthlybenefitpaymentswillstop;• Employee and employer contributions are

notmadeonyourbehalf;• Youwillnotaccrueadditionalservicecredit;• COLAsarenotappliedtoyourbenefitduring

thesuspensionperiod;• Youmaynotchangeyourplanofretirement

and/orbeneficiary;and• Your benefit payment is reactivated

upon termination of the coveredemployment.

24

Appendix A

Plans of Retirement – Which Plan is Right?

*Exceptionsexist.SeeChanges in Plan of Retirement and Beneficiary Designationssection.

Plan of Retirement

Reduced Monthly Benefit

Monthly Benefit to Survivor

Pop-Up Option

Available

Retiree May Change Benefi-

ciaries After Retirement

A—Maximum No No No Yes

B—Option1 Yes No No Yes

B—Option2 Yes Yes,100%ofRe-tiree’sBenefit Yes No*

B—Option3 Yes Yes,50%ofRe-tiree’sBenefit Yes No*

B—Option4 YesYes,as

DesignatedbyMember

No No*

25

Thischartshowssomeoftheadvantagesanddisadvantagesofeachplan.AdescriptionofeachplanisdetailedinthePlans of Retirementsection.

Appendix B

Sick Leave Credit

Days of Unused Sick Leave Credit

CreditableService

0

60

70

90

110

130

150

170

190

210

230

250

270

290

310

330

350

370

390

410

430

450

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

59

69

89

109

129

149

169

189

209

229

249

269

289

309

329

349

369

389

409

429

449

469

.......................0months

.......................3months

.......................4months

.......................5months

.......................6months

.......................7months

.......................8months

.......................9months

.....................10months

.....................11months

.....................12months

.....................13months

.....................14months

.....................15months

.....................16months

.....................17months

.....................18months

.....................19months

.....................20months

.....................21months

.....................22months

.....................23months

26

Appendix C

Working After Retirement

RETIREE RETURNING TO WORK FULL-TIME WITH:

27

RETIRED WITH TRS PENSION

FROM:

Board of Regents

Technical College

System of Georgia

State Agency Other than

Department of Education

Local BOE, Charter

School & RESA

LibraryState


Board of Regents

NOTallowed,including

switchtoORP

AllowedunderERS

AllowedunderERS

AllowedunderPSERS

Notallowed

AllowedunderERS

Technical College

System of Georgia

AllowedunderORP

NOTallowed,including

switchtoERS

AllowedunderERS

AllowedunderPSERS

Notallowed

AllowedunderERS

State Agency Other than


AllowedunderORP

AllowedunderERS

NOTallowed,unlessnew

positioniswithadifferentagencyinadifferentposition

AllowedunderPSERS

Notallowed

AllowedforotherstateagenciesotherthanDepartmentofEducation

Local BOE, Charter

School & RESA

AllowedunderORP

AllowedunderERS

AllowedunderERS

AllowedunderPSERS

Notallowed

AllowedunderERS

Library AllowedunderORP

AllowedunderERS

AllowedunderERS

AllowedunderPSERS

Notallowed

AllowedunderERS

State Department of Education

AllowedunderORP

AllowedunderERS

AllowedunderERS

AllowedunderPSERS

Notallowed

AllowedforotherstateagenciesotherthanDepartmentofEducation

Directions to the TRS Office: Two Northside 75, Atlanta, Georgia

I-75 SouthboundTravelsouthonI-75toExit252-NorthsideDrive/HowellMillRoad.FollowsignstoNorthsideDrive/GADome41,whichwillbeoffontheright.AttheexitstoplightturnrightontoNorthsideDrive.AtthenexttrafficlightturnleftandtheTRSofficebuildingisontheright.

I-75 NorthboundTravelnorthon I-75 toExit252A -NorthsideDrive.Turn leftontoNorthsideDrive.Atthe2ndtrafficlightturnleftandtheTRSofficebuildingisontheright.

I-85 SouthboundTravelsouthonI-85toI-75North.TravelnorthonI-75toExit252A-NorthsideDrive.TurnleftontoNorthsideDrive.Atthe2ndtrafficlightturnleftandtheTRSofficebuildingisontheright.

I-85 NorthboundTravelnorthonI-85toI-75North.TravelnorthonI-75toExit252A-NorthsideDrive.TurnleftontoNorthsideDrive.Atthe2ndtrafficlightturnleftandtheTRSofficebuildingisontheright.

I-20 WestboundTravelwestonI-20toI-75North.TravelnorthonI-75toExit252A-NorthsideDrive.TurnleftontoNorthsideDrive.Atthe2ndtrafficlightturnleftandtheTRSofficebuildingisontheright.

I-20 EastboundTraveleastonI-20toI-75North.TravelnorthonI-75toExit252A-NorthsideDrive.TurnleftontoNorthsideDrive.Atthe2ndtrafficlightturnleftandtheTRSofficebuildingisontheright.

I-75 SI-75 N

28

OFFICETwo Northside 75, Suite 100

Atlanta, GA 30318

PHONE404.352.6500 800.352.0650

FAX404.352.4885

CALL CENTER HOURS8 am - 5 pm, M-F

OFFICE VISITING HOURS8 am - 4:30 pm, M-F

WEBSITEwww.TRSGA.com

01/17

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