Bill > HB773

This bill allows certain public school employees in Georgia to make a one-time, irrevocable election to join the Teachers Retirement System (TRS) instead of remaining in the Public School Employees Retirement System (PSERS). Specifically, the bill provides two pathways for this election: first, for new employees hired on or after September 2, 2026, who can choose within ten days of employment to join TRS, and second, for current PSERS contributing members employed as of September 1, 2026, who can also elect to switch. Employees making this election will be prohibited from transferring any creditable service and will have different options for handling their accumulated contributions based on their years of service. For those with ten or more years of service, they can either withdraw their contributions and leave PSERS or leave their contributions in the fund while retaining vested rights. Employees with less than ten years of service must withdraw their contributions and cease membership. The bill requires local administrations to notify eligible employees about this option and provide the necessary forms. The law will only become effective on July 1, 2026, if it is determined to be concurrently funded according to Georgia's Public Retirement Systems Standards Law.

Labor and Employment

https://www.legis.ga.gov/legislation/71358