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Employee Retirement

Stephens County School System retirement programs consist of the Teachers Retirement System (TRS), Public School Employees Retirement System (PSERS), voluntary tax-sheltered annuity plans, and Social Security.

Teachers Retirement System of Georgia (TRS)

TRS eligible participants must contribute 6% of their pre-tax earnable compensation, the salary payable to a member for full-time work, to their TRS account by payroll deduction. The Stephens County Board of Education is also mandated to contribute a percentage of each eligible employee’s salary. Employees with questions regarding retirement should direct those questions to the Teachers Retirement System of Georgia.

Teachers’ Retirement System of Georgia website

Public School Employees Retirement System (PSERS)

PSERS eligible participants hired after 7/1/2012 contribute $10.00 per month to their PSERS account from September through May each fiscal year. The Stephens County Board of Education has established a voluntary tax-sheltered annuity plan for eligible employees and will match up to $25.00 per month. Eligible employees who voluntarily participate in tax-sheltered annuity plans acknowledge that the Stephens County Board of Education is not a financial advisor and agree to hold harmless the school system with regard to these plans.

Public School Employees Retirement System (PSERS) website

Tax-Sheltered Annuity Plans

Plan options are reviewed each year during spring open enrollment sessions or as requested. Eligible employees desiring to open an account or review current accounts should contact the appropriate authorized financial advisor for assistance in the process. Participation is voluntary for eligible employees and plans are subject to Internal Revenue Service (IRS) regulations. Employees requesting changes to plans should contact their plan administrator or financial advisor. Plan administrators or financial advisors must submit written authorization of requested changes.

Social Security

Employees of Stephens County School System contribute 6.2% of their monthly gross income to the Social Security Administration by payroll deduction. The Stephens County Board of Education also contributes 6.2% of each employee’s monthly gross income to the SSA. Social Security benefits usually replaces an estimated 40% of an average wage earner’s income after retirement. Currently, individuals may begin to withdraw a Social Security benefit at the age of 62.

Social Security Administration website 

Other Types of Employee Separation

Employees who resign or are terminated should also review SHBP coverage, voluntary benefit coverage, voluntary tax-sheltered annuity options, and pension plan options. Employees under these circumstances should contact the Human Resources Department.

Human Resources Department website