Bill > SB209

This bill allows certain individuals who are currently members of the Public School Employees Retirement System (PSERS) to make a one-time, irreversible choice to join the Teachers Retirement System of Georgia (TRSG) instead, with specific conditions and limitations. The PSERS is a retirement system for public school employees who are not eligible for the TRSG or the Employees' Retirement System of Georgia (ERSGA), while the TRSG is for teachers and other educational professionals. The bill introduces new provisions that permit individuals who would otherwise be required to be PSERS members to elect to become TRSG members, and it also allows certain existing PSERS members, depending on their years of service and employment status, to make this election. Employers, specifically local school districts and postsecondary vocational-technical schools under the Technical College System of Georgia, are required to notify eligible employees about this option. Importantly, individuals who elect to transfer to the TRSG will not be able to transfer any previously earned creditable service from the PSERS, meaning they will only accrue service credit from the date they become a TRSG member, with the exception of military service. The bill also outlines how accumulated contributions are handled for those transferring, depending on their years of service, and specifies that employers who opt to offer this election cannot revoke it. This Act is set to become effective on July 1, 2026, contingent on it being concurrently funded according to the Public Retirement Systems Standards Law.

Labor and Employment

https://www.legis.ga.gov/legislation/70509