Retirement

All employees of Georgia Tech are required by an Act of the General Assembly of the State of Georgia to participate in a retirement program. The retirement options you have are determined by your non-exempt status. In addition to one of the required plans, Georgia Tech offers two supplemental retirement saving plans. Your retirement plan selection is irrevocable.

Teachers Retirement System

  • Eligible Employees: Regular faculty or staff working at least 50% or greater 
  • Teachers Retirement System of Georgia (TRS) is a defined benefit plan with a 6.00 percent employee contribution and a 14.24 percent employer contribution for FY2015. TRS has a 10-year vesting period, 2 percent per year income replacement, and disability retirement at 10 years of service at any age.
  • To participate in the TRS complete the Retirement Election Form and fax to 404.894.6978.
  • The Retirement Election Form is available on the forms page, under "Benefits."

Optional Retirement Plan

  • Eligible Employees: Regular faculty or staff with FLSA exempt status
  • ORP is a defined contribution plan offered to salaried, exempt employees only. The plan requires a 6.00 percent employee contribution and has a 9.24 percent employer contribution. Vesting is immediate and the service providers include VALIC, Fidelity and TIAA. To confirm the days our retirement plan consultants are on campus, click here.
  • To participate in the ORP, you must complete the Retirement Election Form and the enrollment or online application from the provider of your choice. E-mail your Account Confirmation page to benefits@ohr.gatech.edu once you've established your ORP account with the vendor of your choice.

Please Note: Your Enrollment form application from the applicable financial provider must be received at the same time as your Retirement Election Form in order to set up your ORP contributions.

GDCP

  • Eligible Employees: Temporary, non-exempt employees
  • The Georgia Defined Contribution Plan (GDCP) provides a retirement system for temporary, seasonal, and part-time employees of the State of Georgia who are not eligible for membership in the Employees’ Retirement System or the Teachers Retirement System. Members of GDCP are only covered for Medicare. There is no Social Security coverage. Members contribute 7.5 percent of gross salary to the plan through payroll deductions. The amount deducted is credited to the individual account of the member.
  • Eligible GDCP members can now request refunds online 

403(b) Tax Sheltered Annuity Plan

  • Eligible Employees: Temporary and Regular Faculty or Staff
  • Employees can contribute up to $18,000 pre-tax for 2016 (additional $6,000 for age 50 and over) and may enroll and make changes to their election at any time. A Roth 403(b) is available for after-tax contributions.
  • Service providers are:
    • Fidelity
    • TIAA
    • VALIC
  • Click here to schedule a retirement planning session.
  • To enroll in the 403(b) or change any of your elections regarding your current account please go to My Retirement Manager.

457(b) Deferred Compensation Plan

  • Eligible Employees: Temporary and Regular Faculty or Staff
  • Employees can contribute up to a $18,000 pre-tax for 2016 (additional $6,000 for age 50 and over) and may enroll and make changes to their election at any time.
  • Service providers are:
    • Fidelity
    • TIAA
    • VALIC
  • Click here to schedule a retirement planning session.
  • To enroll in the 457(b) or change any of your elections regarding your current account please go to My Retirement Manager.

University System of Georgia Retirement Policies

Plan a Meeting

If you are approaching your retirement date within 60 days, schedule an appointment with James Wallace in Human Resources.

 

You may complete the Retirement Dinner ApplicationAutomatic Insurance Debit Form and Georgia Tech Silver Jackets Invitation during your retirement planning meeting or fax to 404-894-6978.