Georgia Law requires membership in the Teachers Retirement System of Georgia (TRS) or an Optional Retirement Plan (ORP) for all regular employees who are under age 60 and who work part-time or more. The ORP, however, is only available to faculty and certain key administrators.

The employees' contribution to TRS is 5% of gross salary. This contribution rate is applicable regardless of the source of salary. Employee contributions are deducted on a before-tax basis (before federal and state government income tax). FICA is paid on contributions as on any other salary. Federal and State of Georgia income tax is deferred until the account is withdrawn or retirement benefits are received.

Vesting in the TRS occurs at completion of ten years of service. Vesting for the ORP is immediate.

See also -

Teacher's Retirement System of Georgia (TRS)

Optional Retirement Plans (ORP)

Macon State College provides a tax sheltered account program as authorized under section 403(b) of the Internal Revenue code. Salary reduction agreements are processed through the office of Human Resources. A variety of insurers and mutual fund companies are available for contributions. Contact the Human Resources Office for a complete list of available companies.