Madison County Charter School System Retirement Program
Madison County Charter School System retirement program is made up of two parts – Teachers Retirement System of Georgia (TRSga), Public School Employees Retirement System (PSERS)
Teachers Retirement System of Georgia
TRS covers all teaching, administrative, clerical and other professional personnel. Teachers Retirement System eligible employees contribute 6% of their gross monthly salary to TRS. In addition, the BOE contributes 19.98% of your gross salary to your TRS account.
Please click on this link for TRS information: www.trsga.com/active-member
Have you been with TRS between 5 and 24 years? Click on this link: Mid-Career
Have you been with TRS 25 years or more? Click on this link: Pre-Retirement Members
Ready To Retire under TRS? Click on this link for the TRS Retirement Process: I'm Ready to Retire
PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM
PSERS covers all non-TRS employees including bus drivers, food service, maintenance, warehouse and custodial employees. PSERS employees contribute $10.00 per month September through May (applies to employees hired after 7/1/2012).
Click on this link for PSERS information: Public School Employees Retirement System
Ready to Retire under PSERS? Click on this link and then click Active Members: PSERS Forms
Supplemental Retirement Plans
The following plan options are available for benefits-eligible employees: 403(b) account, 457(b) accounts, Roth 403(b) and Roth 457(b) plans.
Participation in tax-sheltered annuity plans is voluntary and is open to all benefits-eligible employees (those employees who work 20 hours or more per week). All newly, benefits- eligible employees will be automatically enrolled into a 403(b) plan with an Employee contribution rate of 1%. If employee choose not opt out of, the form is located at bottom of this page. The Board has established a voluntary Supplemental Retirement Plan for PSERS employees that will match some employee contributions.
Since participation in these plans are voluntary, benefits-eligible employees may make changes to their plan(s) at their discretion (subject to IRS rules and regulations) during the calendar year by contacting the plan representatives.
Universal Availability requires an employer to give notice to employees of their right to make elective deferrals to tax sheltered annuities. To ensure compliance with this requirement, MCCSS offers an Annual Open Enrollment period for employee benefits during which benefits-eligible employees may make such elections and/or changes to their tax sheltered annuity plan(s). Open Enrollment typically runs for a period of two weeks beginning in mid-October.