Retirement
The Retirement Department provides employees with the opportunity to participate in the State Retirement Plans, Board Sponsored Tax-Sheltered Annuity program, and voluntary retirement savings programs. This section offers in-depth resources to help you learn about the retirement programs available or assist in the retirement process.
Goal
- Ensure that retirement policies are applied on a consistent basis and comply with state and federal law and district policy
Objective
- Provide guidance on the district retirement policies and programs including but not limited to Teacher Retirement System (TRS), Public Service Employee Retirement System (PSERS), Employees’ retirement System (ERS), and Tax Sheltered Annuities (TSA).
Responsibilities
Responsibilities include, but are not limited to the following:
- Manage and coordinate activities and transactions related to TRS and PSERS retirement files, including benefit plans for retirees
- Coordinate TRS and PRS training programs; individual retiree counseling sessions, and quarterly information sessions for retirement eligible employees
- Manage communication process for 403(b) program eligibility requirements via quarterly Newsflashes
- 678.676.0362
Membership: Full-time DeKalb County School District employees in these job categories/positions: teachers; paraprofessionals; administrators/supervisors; nurses; campus resources officers; and clerical staff. All members are required to contribute 6% of earnable compensation to TRS by payroll deduction on a pre-tax basis.
- Two Northside 75
Suite 100
Atlanta, GA 30318 - 404-352-6500 or 1-800-352-0650
New Members who join PSERS beginning July 1, 2012, will pay a required contribution of $10.00 per month for the 9-month contribution period of September through May. This amounts to an annual contribution of $90. Members who first joined PSERS prior to July 1, 2012, will continue to pay a required contribution of $4 each month, for an annual contribution of $36.
If you qualify by years of service and age, PSERS provides lifetime retirement benefits, disability benefits, and death benefits. At retirement, options may also be chosen that can provide lifetime benefits to your beneficiary beginning at your death. The amount you receive is calculated by years of Creditable Service multiplied by a specific dollar amount. The dollar amount is set by the Georgia General Assembly. Effective July 1, 2019, the current dollar amount is $15.50.
Membership: Members include bus drivers, food service workers, and maintenance or custodial personnel. Some managers in these positions are members of TRS.
Members who leave employment before retirement are entitled to a refund of member contributions plus interest.
PSERS Member Statements are available online at www.ers.ga.gov.
The PSERS Website provides complete information about this retirement plan
- Two Northside 75
Suite 300
Atlanta, GA 30318 - 404-350-6300 or 1-800-805-4609
If you are a newly hired, full-time, DeKalb County School District employee and you are a current member of ERS, you have the option to: (1) continue membership under ERS or (2) elect membership with Teachers Retirement System (TRS).
Employees who wish to continue their ERS membership must contact the DCSD Retirement Specialist at (678) 676-0362.
Teachers Retirement System (TRS)
TRS members who are eligible for retirement should consider attending one of the TRS Information Meetings offered at the DCSD Division of Human Resources.
Several meetings are held each year. Dates and times of these meetings are communicated to district employees via newsflash.
Public School Employees’ Retirement System (PSERS)
PSERS members who are eligible for retirement should consider attending one of the PSERS Information Meetings offered at the DCSD Division of Human Resources.
Several meetings are held each year. Dates and times of these meetings are communicated to district employees via newsflash.
Optional Supplemental Tax-Sheltered Retirement Plans (TSA)
DeKalb County School District offers all employees the option to contribute to a 403(b) tax-sheltered annuity and a 457 deferred compensation plan. Employee contributions may be excluded from taxable income up to limits as set forth by the Internal Revenue Service.
For step-by-step instructions on how to begin contributions to an Optional Tax-Sheltered Annuity plan, visit the Employee Portal and download the TSA 403(b) Optional Payroll Deduction Form.
For step-by-step instructions on how to apply for retirement with TRS, visit the Employee Portal.
Get details on vesting with Teachers Retirement System of Georgia.
- With the completion of thirty years of TRS creditable service, regardless of age
- With the completion of at least ten years of TRS creditable service and attainment of age sixty (60)
- Completion of at least twenty-five years of TRS creditable service, regardless of age, with a reduced benefit
- With the completion of at least ten years of PSERS creditable service and attainment of age 65
- Attainment of age sixty with at least ten (10) years of PSERS creditable service with a reduced benefit.
- You may be paid for unused sick leave days upon your retirement provided you have a combined minimum of 60 days of unused sick leave, for which you have not been paid, from your current and all previous TRS covered employers; and you have established 40 years of creditable service with TRS and cannot apply accumulated sick leave to increase your creditable service with TRS pursuant to O.C.G.A. § 47-3-92.
- Sick leave days transferred from other school systems will be excluded from the Sick Leave Financial Exchange Program.
- Unused sick leave days earned by an employee may be redeemed under the Sick Leave Financial Exchange Program at retirement according to the following schedule:
Unused Sick Leave Days Rate of Pay Less than 25 days $0.00 per day 26–50 days $3.00 per day 51–75 days $4.00 per day 76–100 days $5.00 per day 101–125 days $6.00 per day 126–150 days $7.00 per day 151–175 days $8.00 per day 176 days or more $9.00 per day
PSERS Retirees: PSERS does not allow the use of unused sick leave toward retirement service credit.
Unused sick leave days earned by an employee may be redeemed under the Sick Leave Financial Exchange Program at retirement according to the following schedule:
Unused Sick Leave | Days Rate of Pay |
---|---|
Less than 25 days | $0.00 per day |
26–50 days | $3.00 per day |
51–75 days | $4.00 per day |
76–100 days | $5.00 per day |
101–125 days | $6.00 per day |
126–150 days | $7.00 per day |
151–175 days | $8.00 per day |
176 days or more | $9.00 per day |
**NOTE – Only current benefits carry over into retirement (i.e. single coverage continues as single coverage into retirement; if current employee + spouse coverage, only employee + spouse carries over into retirement).
Tax Sheltered Annuities
2% Match/Enrollment
The Supplemental Retirement 2% Match Program is a tax deferred savings program where the DCSD Board of Education contributes 2% of an employee’s base salary into a 403(b)-account held with one of the four BOE approved optional Investment and Retirement Providers – Fidelity, EMPOWER, Corebridge, and VOYA.
To participate in the 2% match program, an employee must meet the following criteria:
- Full-time status with at least five (5) years of continuous full-time employment with DCSD after January 1, 2011
- Contribute at least 2% of their base salary into an approved DCSD 403(b)-account (Fidelity, EMPOWER, Corebridge, VOYA)
Employees must apply during open enrollment periods throughout the year. Notification is sent district wide to employees during open enrollment.
Tax Sheltered Annuities
For the current year’s IRS published guidelines on IRS Limitations for 403(b) annual contributions and catch-up contributions, please consult the IRS website under Topic Index: Retirement Topics – 403(b) Contribution Limits
DCSD Supplemental Retirement Plan for PSERS participants
DeKalb County School District establishes a Tax Sheltered Annuity (TSA) – 403(B) Account for all employees in the Public School Employee Retirement Plan. DeKalb County School District contributes 8% of the eligible employees’ gross salary to a TSA account for each employee through Fidelity Investments.
Optional Supplemental Retirement – 403(b)/457 Plans
Optional Supplemental Retirement is a tax deferred savings program in which the DCSD Board of Education allows employees through pre-tax payroll deduction to enroll into an individual supplemental Tax Sheltered Annuity 403(b)/457 retirement plan. Employees can enroll at any time.
Employees can sign up with any of the following four (4) retirement investment firms:
Employees can contact a DCSD Retirement Specialist for a list of representatives from each Investment Firm.
- Retirement Specialist
- 678-676-0362
- Teacher Retirement System (TRS)
- Public School Employees Retirement System (PSERS)
- Employees’ Retirement System (ERS)
- Tax Sheltered Annuities (TSA)
- Manager III, Retirement
- 678-676-0362
- Director, Total Rewards
- 678.676.0353