SUMMARY:

            This bill would amend Title 47 of the O.C.G.A. to provide that any full-time public school employee may elect to become a member of TRS if the local BOE elects to participate.

REQUIREMENTS:

• Full-time employees in systems whose boards choose to participate may enroll in TRS with notification to PSERS.
• The employee must be willing to make the employee share TRS contribution.
• If the employee chooses, he/she may transfer credit for prior service in PSERS with purchase of the same either by the individual or at the choice of the LBOE.
• July, 2011 is the deadline for all choices and payments.
• The LBOE must be willing to pay the employer contributions for all employees who enter the system after July 1, 2010.
• The state would pay employer contributions for all members who joined the system before July 1, 2010.  After that, the obligation would be on the LBOE.
• Employees who choose to move totally into TRS would no longer have any claim under PSERS for retirement benefits.
• Vested employees in PSERS could choose to withdraw their contributions to the date of their conversion to TRS.
• Vested employees in PSERS could leave their contributions in that fund and draw benefits under that fund upon retirement, even if they become vested in TRS and draw from that fund, as well.