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Advocating for Active and Retired
State Employees and Educators
 

The Georgia State Retirees Association (GSRA) is an organization focused on keeping retirees and prospective retirees from all parts of Georgia Government informed about any impacts to promised retiree and health insurance benefits.                       

   

Read the May Newsletter 

 

Don't miss the May Newsletter's coverage of the ERS Actuarial Reports, GSRA's Membership/Marketing Drive, and more!

 

ERS Board of Trustees approves FY19 Post-Retirement Benefit Adjustment 

 

Thanks to the 50 or so GSRA members who attended the Employee's Retirement System (ERS) meeting in Atlanta on 4/19/18 and those who contacted the Board or took other actions in support of a benefit adjustment for ERS retirees. Following a review of the ERS actuarial report with a representative of the consulting firm and a brief overview by ERS Executive Director Jim Potvin, ERS Board member (DOAS Commissioner) Shawn Ryan made a motion for the Board to approve two non-compounding bonus payments of 2% each, payable in July 2018 and January 2019, subject to essentially similar restrictions that the one time bonus payments paid over the last 2 years carried. After some brief discussion, the Board unanimously voted in favor of the bonus payments. The following text was posted to the ERS website: "During the Annual Board meetings on April 19, 2018, the Boards of Trustees for the Employees’ Retirement System (ERS), the Legislative Retirement System (LRS), the Judicial Retirement System (JRS), and the Public School Employees Retirement System (PSERS) considered whether to grant post-retirement benefit adjustments to retirees and beneficiaries.  Actions taken by the Boards are below.


ERS, LRS, & JRS – To eligible reitrees and beneficiaries:

  • a one-time, 2%, non-compounded payment (maximum $600) effective July 1, 2018
  • a one-time, 2%, non-compounded payment (maximum $600) effective January 1, 2019"

 

Please look for your next issue of the GSRA Newsletter next for more details.

Steve Herndon, President, GSRA 

 

ERS Board meets, hears “Funding Considerations” Presentation from Executive Director, and Approves Special Meeting Mar. 15, 2018 To Consider Changes in Funding Policies

 

ERS Executive Director Jim Potvin presented a series of “funding considerations” at the ERS board’s Feb. 15 meeting.  These included analyzing the impacts of downturns in ERS investment values, of various amortization periods reaching 100% funding of the retirement pension fund, of alternative assumed investment rates of return, and of alternative COLA and bonus payments. At Mr. Potvin’s suggestion, the board decided to hold a special meeting this coming March 15 to consider changes to current funding policies. This meeting will follow the next regularly scheduled Investment Committee meeting. The special meeting is needed to decide on what, if any, changes should be made to the amortization period and to the assumed investment rate in order for the ERS’s actuary to be able to project before the regular April meeting the impacts of various COLAs or other post-retirement adjustments the board may consider at that meeting. To view Mr. Potvin’s presentation, click on this link: Funding Considerations.

 

 

GSRA Legislative Liason Chuck Freedman testifies before the Senate Health and Human Services Committee in support of  SB359 on Surprise billing.

 

Click here to view the VIDEO. Note: the audio fails at 6:09 and resumes at 7:40. 

   

2018 GSRA Day at the Capitol and GSRA/GPHSA Legislative Reception on January 31 a big success!

 

Click here to view VIDEO of Georgia House of Representatives honoring/declaring GSRA Day at the Capitol!

 

Click here to view official GA House Resolution 964 honoring Georgia's retirees, Georgia State Retirees Association (GSRA) and GSRA Day at the Capitol! 

 

Click here to view official GA Senate Resolution 657 honoring Georgia's retirees, Georgia State Retirees Association (GSRA) and GSRA Day at the Capitol!

 

Click here to download/view a PowerPoint display of GSRA Day at the Capitol pictures!

 
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