Fiscal Year 2018-TRS Average Salary Limitation

In its annual meeting held May 17, 2017, the Teachers Retirement System Board of Trustees adopted the following maximum salary increase for Fiscal Year 2018 that is used by TRS to compute a member’s highest two-year average salary. The percentage is in accordance with Georgia Law and applies only to TRS members whose current date of membership is on or after July 1, 1984 and plan to retire this year.

FISCAL YEAR 2018 – TRS Average Salary Limitation

Employees of the Board of Regents – 4.50% For example, if an active TRS member is planning to retire and is within their highest salary earning years; if he/she receives a salary increase of 6% in the final year of employment, TRS will limit the salary increase to 4.5% to calculate the member’s highest 24 month consecutive average salary to determine retirement benefit payments.

Fiscal Year 2019 TRS Contribution Rates The board also adopted the employee and employer contribution rates for Fiscal Year 2019. The TRS, a defined benefit plan, operates on a fiscal year cycle (July 1 – June 30). The TRS employer rate will increase for Fiscal Year 2018 and Fiscal Year 2019 as follows:

FISCAL YEAR 2018 –TRS Contribution Rates

July 1, 2017 – June 30, 2018

Employer Contribution Rate 16.81%

Employee Contribution Rate 6.00%

FISCAL YEAR 2019 –TRS Contribution Rates

Effective July 1, 2018

Employer Contribution Rate 20.90%

Employee Contribution Rate 6.00%