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Georgia Defined Contribution Plan

Retirement-System-Reporting

View Official Policy: Georgia Defined Contribution Plan Policy

The Georgia Defined Contribution Plan was created by the 1992 Georgia Law, Act 996 and became effective on July 1, 1992. The purpose of this law was to provide a retirement system for temporary, seasonal, and part-time employees of the State of Georgia who were not eligible for membership in the Employees’ Retirement System (ERS) or the Teachers Retirement System (TRS).

Individuals employed by a State agency, department, bureau, institution, board or commission, the State Board of Education, and the Board of regents of the University System are covered under this plan.

Excluded from this plan are the following:

  1. Persons qualified as bona fide independent contractors
  2. Active members of ERS or TRS
  3. Retirees of ERS or TRS
  4. Persons working for an institution in which that person is regularly enrolled and attending classes and meets the IRS student exclusion criteria.

The Payroll Department will process retirement deductions from employee pay as appropriate and remit these funds on a timely basis to the Georgia Defined Contribution Plan (GDCP). The Department will also prepare and transmit retirement reports as required.

Responsibilities

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President for Finance Division

Policy Owner: Payroll

Policy Contact: Julie Camp

Phone Number: 706-542-3431


 

Date Issued:

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