Georgia Defined Contribution Plan

Temporary and part-time (under 20 hours) KSU employees not eligible to participate in the Teachers Retirement System (TRS) or the Optional Retirement Plan (ORP) are required to participate in the Georgia Defined Contribution Plan. This plan was created by the 1992 Georgia Law, Act 996 and became effective on July 1, 1992.

KSU pays benefits to Medicare but does not pay into Social Security on behalf of employees enrolled in GDCP.   This means that temporary and part-time (under 20 hours) employment is recognized for purposes of Medicare but not for Social Security benefits.   More information regarding the requirements of the plan is available through the ERS website at www.ers.ga.gov.
 
*CONTRIBUTION RATE
Members contribute 7.5% of gross salary to the plan through mandatory payroll deductions. This is deposited in each members account.
 
*INTEREST AND INVESTMENT
The rate of interest is determined by the Board of Trustees based upon the return on investments minus administrative expenses. There could be times when no interest is credited due to low return on investments
 
*from ERS website, Georgia Defined Contribution Plan Brochure
 

  • By providing the appropriate documentation, the following temporary employees may be exempt from participating in the Georgia Defined Plan:

    1. Those currently receiving a retirement income benefit from Teachers Retirement System of Georgia (TRS) or the Employees' Retirement System of Georgia (ERS). A TRS/ERS benefits payment statement from the current month must be provided upon employment.
    2. Employees currently contributing to a TRS or ERS through active payroll deduction at another employer. A payroll check advice from the current month showing an active TRS/ERS deduction must be provided upon employment.
    3. Employees working for an institution who are regularly enrolled and attending classes at that institution and who meet IRS student exclusion criteria.
    4. Employees qualified as bona fide independent contractors.

  • A contributing member who terminates employment and/or meets the criteria noted under Refund Policy below may apply for a refund of accumulated contributions and interest. To apply for a refund, login to your ERS online account and select Request a Refund to initiate the refund process. If you do not have an online account, click here and then click the Register button.

    Please note: It may take up to 8 weeks for your refund to be processed. You may call ERS directly to check on the status of your refund at 404-350-6300.

  • ERS will process your GDCP Application for Refund under the following circumstances:
    • You resign;
    • Your position ends;
    • You move into a regular position eligible for TRS or ORP participation; or
    • You have a more than a 30 day break in service. 
    KSU will report your termination or change in status to ERS AFTER you receive your final paycheck with the GDCP deduction.

    If you are employed in a position that is sporadic in nature, your employment with KSU will be considered active as long as you continue to be available for assignments or intermittent work. ERS will not process and KSU will not authorize or request GDCP Applications for Refund for active employees.

Resources

CONTACT INFORMATION  - ERS
Two Northside 75, Suite 300
Atlanta, GA 30318-7701
Customer Service: 404-350-6300
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