Planning for Retirement

Selecting Your Retirement Plan

All employees are required by an Act of the General Assembly of the State of Georgia to participate in a retirement program. The retirement options you have are determined by your non-exempt status. In addition to one of the required plans, Georgia Tech offers supplemental retirement saving plans. Your retirement plan selection is irrevocable.

Plan
Teacher's Retirement System (TRS)
Optional Retirement System (ORP)
Georgia Defined Contribution Plan (GDCP)
Eligible Employees
Regular faculty or staff working at least 50% or greater
Regular faculty or staff working paid monthly (exempt status) Temporary, seasonal, or part-time employees (non-exempt)
Employee Contribution
Required 6% (fixed, cannot increase or decrease) Required 6% (fixed, cannot increase or decrease)  
Employer Contribution
14.24% 9.24% 7.5%
Vesting
10-year period Immediate  
Special Notes
Allows 2% per year income replacement and disability retirement at 10 years of service (any age) Service is provided through VALIC, Fidelity, or TIAA Only provides coverage for Medicare — not Social Security
To Select
Eligible employees default into this plan If you do not wish to default into TRS, access one of the above vendor's websites to create an account. Email account confirmation to retirement@gatech.edu.   

(Optional) Consider a segmental retirement savings plan. (This decision can be changed any time through Retirement Manager.)

  • Both plans are open to temporary and regular faculty and staff. 
  • Create, modify or stop your account through Retirement Manager 
  • Vendors include VALIC, Fidelity, and TIAA
Plan
403(b) Tax Sheltered Annuity 
457(b) Deferred Compensation Plan
Type
A Roth 403(b) is available for after-tax contributions Contributions to a 457(b) are pre-tax.
Employee Contribution
Employees may contribute up to $18,000 pre-tax for 2017 (additional $6,000 for age 50 and over) Employees may contribute up to $18,000 pre-tax for 2017 (additional $6,000 for age 50 and over)

Supplemental Retirement Plans

In addition to the required retirement program above, you also have the option to add a supplemental plan.

More About USG Retirement