SUMMARY:

Provides for creditable service toward retirement benefits under the Teachers Retirement System of Georgia for service in a private school outside Georgia.

REQUIREMENTS:

• A (TRS) member may obtain creditable service for service as a teacher in an accredited elementary or secondary school or private college or university located in the United States, provided the member has completed at least five consecutive years of service in Georgia.
• A (TRS) member wishing to obtain such creditable service shall pay such amount as determined by the actuary as necessary to grant the benefit without creating any accrued actuarial liability.

POINTS TO CONSIDER:

• Retirement legislation is introduced in the first year of the legislative session, studied during the summer, and acted upon (or not) during the second year of the legislative session.
• The employee carries the responsibility for 'buying' the service gained outside Georgia.

EFFECTIVE DATE:

July 1, 2010 pending funding.