III. U. 5. Retirement

All qualified employees shall be enrolled as members of the Teachers Retirement System as a condition of employment, unless the employee selects membership in the State Employees' Retirement System at the time of their initial employment with the Department or is otherwise required by law to be enrolled. Once this selection is made, it shall be irrevocable during the employee's employment with the Department.

A qualified employee is an employee who works at least twenty (20) hours per week in a budgeted position funded for at least nine (9) continuous months. All other employees shall be members of Georgia Defined Contribution Plan.

All full-time employees of a Technical College formally operated by a local board of education shall, at the date that the Department assumes governance, elect either to continue membership in the Teachers Retirement System of Georgia or to become members of the Employees' Retirement System of Georgia. Once this selection is made, it shall be irrevocable during the employee's employment with the Department. Provided, however, that all employees who are members of the Public School Employees Retirement System may elect to continue their membership in the Public School Employees Retirement System or to become members of the Teachers Retirement System of Georgia or the Employees' Retirement System of Georgia, if otherwise eligible under laws, rules, or regulations.

Absent extraordinary circumstances, employees shall provide written notice of their intention to retire at least six months prior to the date of retirement.

The Commissioner in conjunction with the presidents shall develop the necessary procedures for implementing this policy.

The procedures shall ensure that the Department's Central Office and the Technical Colleges:

1) Inform current and new employees of their options under this policy and the impact of each option.

2) Maintain current information on the retirement systems and disseminate appropriate information to employees.

3) Maintain appropriate records.


Reference

Georgia Retirement System



Adopted: April 2, 1987
Revised: January 17, 2001
Code: 03-04-03

Approved