The Georgia Defined Contribution Plan (GDCP) was created by the 1992 Georgia Law, Act 996 effective July 1, 1992.
Its purpose is to provide a retirement system for temporary, seasonal, and part-time employees of:
Excluded from membership are the following:
The Board of Trustees of the Employees’ Retirement System of Georgia (ERSGA) is responsible for the administration of the Georgia Defined Contribution Plan.
Members contribute seven and one-half percent (7½ %) of gross salary to the plan through payroll deductions. This amount is deposited into each member’s account.
The rate of interest is determined by the Board of Trustees based upon the return on investments minus administrative expenses. There could be times when no interest is credited due to low return on investments. When applicable, interest is credited monthly.
A contributing member who terminates employment may apply for a refund of accumulated contributions and interest. As soon as your termination date is received by ERSGA, your account will be updated to an Inactive status. You can then access your account online at www.ers.ga.gov and Request a Refund. If you have not registered for your online account, please visit our website, choose Account Access and Register.
Your account will generally be updated to Inactive within 2-6 weeks of your termination. You will receive your refund within 3-4 weeks of your online request.
Members of GDCP who:
have the option of receiving a periodic payment based on
Applications for this yearly payment are available from ERSGA
If a member dies, a lump sum payment of contributions and interest will be made to the designated primary bene fi ciary. If the designated primary beneficiary is deceased, payment will be made to the secondary beneficiary. If the secondary beneficiary is also deceased, payment will be made to the member’s estate.