All employees 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 supplemental retirement saving plans. Your retirement plan selection is irrevocable.
Plan
Teacher's Retirement System (TRS)
Optional Retirement System (ORP)
Georgia Defined Contribution Plan (GDCP)
Eligiblility
Regular faculty or staff working at least 50% or greater
Regular faculty or staff working paid monthly (exempt status)
Temporary, seasonal, or part-time employees (non-exempt)
Employee Contribution
Required 6% (fixed, cannot increase or decrease)
Required 6% (fixed, cannot increase or decrease)
Employer Contribution
20.9%
(New FY19 rate)
9.24%
7.5%
Vesting
10-year period
Immediate
Notes
Allows 2% per year income replacement and disability retirement at 10 years of service (any age)
Service is provided through VALIC, Fidelity, or TIAA
Only provides coverage for Medicare — not Social Security
Selection
Eligible employees default into this plan
If you do not wish to default into TRS, access one of the above vendor's websites to create an account. Email account confirmation to retirement@ohr.gatech.edu.
Employees have the option to enroll in a supplemental retirement savings plan, in addition to their required retirement savings plan. Two plans options are provided through VALIC, Fidelity, and TIAA and are open to temporary and regular faculty and staff. You may start, stop, or modify contributions at any time.
Plan
403(b) Tax Sheltered Annuity
457(b) Deferred Compensation Plan
Type
A Roth 403(b) is available for after-tax contributions
Contributions to a 457(b) are pre-tax.
Employee Contribution
Employees may contribute up to $18,500 pre-tax for 2018 (additional $6,000 for age 50 and over)
Employees may contribute up to $18,500 pre-tax for 2018 (additional $6,000 for age 50 and over)
Establish Your Plan
To begin contributing to a 403(b), contact retirement@ohr.gatech.edu. The retirement team will alert you when you have been given access to Retirement Manager.
To begin contributing to a 457(b), contact retirement@ohr.gatech.edu. The retirement team will alert you when you have been given access to Retirement Manager.
The retirement team will alert you once you have been given access to Retirement Manager. Use the access instructions to create an account:
Select "New User" (under the USER ID box) [You must create an account for Retirement Manager. This is not your GT account login or retirement plan login.]
The system will provide step-by-step instructions.
As part of the process, you will select a vendor and create your Retirement Manager supplemental savings account.
Once the account has been established, you may start, stop, or change your contributions on a monthly basis.
Please note, the Human Resources retirement team does not adjust contributions on your behalf. However, they can assist you with personal data.
