Administration of the Plan Under the authority of the Gwinnett County Board of Education, GRS is administered by a nine member Administrative Committee consisting of teachers, local school and central office administrators, and a retiree of the Plan. Current GRS Administrative Committee members: Mr. Rick Cost, Chairman GRS    Chief Financial Officer, Division of Business and Finance Dr. Frances Davis, Vice-Chairman GRS    Chief Human Resources Officer, Division of Human Resources Mr. Keith Chaney    Principal, Mountain View High School Mr. Stephen Fairchild    Teacher, Duluth High School Mr. Jim Barbee,    Teacher, Peachtree Ridge High School Dr. Steven W. Flynt    Associate Superintendent Mrs. Sandi Roberson     Retired Administrator Mr. Ron Gay    Teacher, Hull Middle School Mr. Don Moore    Assistant Director of Transportation, Division of Facilities and Operations Day to Day Operations The GCPS Retirement Services Department supports the GRS Administrative Committee in performing the day to day functions required to operate the Plan. The mission of the Retirement Services Department is to provide Gwinnett County Public Schools employees and retirees with the information, guidance, support, and service they need to plan and achieve a comfortable, secure, and independent retirement; and to manage the assets of the Plan to ensure the promise of life long benefits. What We Do Retirement Services Provide Member Counseling Manage Enrollment Manage Benefits Manage Participant Data Provide Member Statements Financial Operations Manage Contributions Provide Accounting Services Provide Financial Statements Manage Disbursements Manage Banking Operations In addition to the in-house services provided by the Retirement Services Department, our staff also oversees the services of professional firms who provide necessary support to the Plan in the areas of investment management, actuarial services, auditing, custodianship of assets and legal affairs.

When you are preparing to retire, it is IMPORTANT to advise the GCPS Retirement Office as soon as possible prior to the date your pension is to begin. You must file a written application with the Gwinnett Retirement System for benefits no later than seventy-five (75) days before retirement benefits are to begin.

Calculation of Your Retirement Benefits

Your retirement benefit is calculated by a formula, which produces a basic benefit. Your basic benefit is payable for as long as you live; additionally, if you are married, fifty percent (50%) of this amount would continue to your spouse following your death. Assuming you retire according to the GRS Plan Normal Retirement Date of age 65, the amount of your monthly retirement income is determined by using the following calculation for each year of participation and adding the years together:

2.2% of Earnings up to $9,000, plus
1.6% of Earnings in Excess of $9,000,
Divided by 12.


Example 1 – Normal or Full Retirement Benefit at Age 65
Assume an employee (Ann Smith, a Teacher) began employment September 1, 1989 and decides to retire on July 1, 2012 at age 65. The GRS Plan provides full retirement benefits at age 65. Assume her earnings were as follows:

Earnings for:
2012 =$ 25,000 (6 months)
2008 – 2011 =$ 40,000 (per year for 4 years)
1990 – 2007 =$ 35,000 (per year for 18 years)
1989 = $ 9,000 (4 months)

Ann Smith’s retirement benefit calculation is the sum of each year of participation as follows:
Year 2012:
.022 x $9,000 = $198
.016 x $16,000 = $256
Amount for these six months $198 +$256 = $ 454

Years 2008-2011:
.022 x $9,000 = $198
.016 x $31,000 = $496
Amount for each of these four years $198 + $496 = $694
Four years amount 4 x $694.00 = $ 2,776

Years 1990-2007:
.022 x $9,000 = $198
.016 x $26,000 = $416
Amount for each of these eighteen years $198 + $416 = $614
Eighteen years amount $614 x 18 Years = $ 11,052

Year 1989:
.022 x $9,000 = $198
Amount for these four months $ 198

Annual Benefit at Age 65: Total is $454 +$2,776 + $11,052 + $198 = $ 14,480

Ann Smith's basic annual retirement benefit at age 65 is $14,480.
The monthly benefit would be one-twelfth (1/12) of this amount or $1,207. No adjusting calculations for age are needed to her benefit because she is 65. (The GRS Plan assumes the “normal” retirement age is 65.)

Early Retirement Benefits

If you retire on an Early Retirement Date, your benefit is determined using the same formula as for the benefit beginning at Normal Retirement Date. However, the following things are different:
 1. Benefits are calculated based on your earnings to your Early Retirement Date.
 2. Early retirement factors are applied if benefits begin before age 65. The factors, to be multiplied by the benefits determined in Step 1, are as follows:
Age   Factor
65    1.0000 or 100% of the computed benefit
64    .9158 or about 92%
63    .8406 or about 84%
62    .7733 or about 77%
61    .7127 or about 71%
60    .6581 or about 66%
55    .4532 or about 45%
50    .3228 or about 32%
Factors for other ages may be obtained from the GCPS Retirement Services Department.


Example 2 – Early Retirement Benefits at Age 60
Assume an employee (John Smith, a Teacher) began employment on September 1, 1990 and decides to retire before the normal or full benefit age of 65. He chooses to retire at age 60 on July 1, 2012. Assume his earnings were as follows:

Earnings For:
2012 =$ 25,000 (6 months)
1991 – 2011 = $ 39,000 (per year for 20 years)
1990 = $ 9,000 (4 months)

John Smith’s early retirement benefit calculation is determined in two steps.

Step 1 Use Age 65 to Determine the Base Calculation Amount:
The retirement benefit calculation for age 65 is the sum of each year of participation as follows:
Year 2012:
.022 x $9,000 = $198
.016 x $16,000 = $256
Amount For These Six Months $198 + $256 = $454

Years 1991-2011:

.022 x $9,000 = $198
.016 x $30,000 = $480
Amount for each of the twenty years $198 + $480 = $678
Amount for Twenty Years $678 x 20 years = $13,560

Year 1990:
.022 x $9,000 = $198
Amount for these four months $198

Annual Base Benefit Amount if Retiree is Age 65 $454 + $13,560 + $198 = $14,212

Step 2 Calculation of Benefit for Being Age 60:

Base Amount $14,212 multiplied by the .6581 Age 60 Factor = $9,353

Mr. John Smith's early retirement benefit at age 60 is $9,353 annually.
The monthly benefit would be one-twelfth (1/12) of this amount or $779.
Note: retiring before the normal retirement age of 65, is considered “early” retirement by the GRS Plan and benefits are reduced accordingly.

Lump Sum Payments

If you are vested with five (5) years of creditable service, the Plan allows a lump sum settlement when the value at the date of payment is $20,000.00 or less.

Lump Sum Payment Options:
  • Have the distribution paid directly to you; however, 20% of the distribution must be withheld as Federal income tax and could be subject to withdrawal penalties.
  • Make a roll-over distribution to an IRA or other qualified pension plan within 60 days without facing withdrawal penalties.


If the Plan makes a lump sum payment to you and you are rehired, you will lose the previous service for purposes of determining future Plan benefits. However, you may repay this distribution to GRS with 5% interest compounded annually from the date of distribution to re-establish this benefit credit for a future retirement date.


Postponed Retirement Benefits

If you remain employed with GCPS after age 65, the benefit you will receive upon retirement will be the same amount as the benefit you would have received at age 65 plus additional benefits accrued during your postponed retirement period.

Post-Retirement Benefit Adjustments

All benefits in pay status as of each July 1, including retirement, disability income, and death benefits may be subject to an adjustment. The adjustment is based on the change in the Consumer Price Index (Urban Consumers) for the previous calendar year.

No single adjustment, either positive or negative, will exceed three percent (3%). If the CPI has changed by less than one percent (1%), no adjustment will be made. Benefits in pay status for less than twelve months will be adjusted on a pro-rata basis.


Termination Benefit (Vesting)

You are fully vested in the Plan after five full years of service. If you terminate your employment with GCPS before you have five years of service, you will not be entitled to any benefits from the Plan.

For determining years of service for vesting purposes, you receive one year of service for each twelve full months of employment, measured from your date of hire. This includes years of service prior to the January 1, 1983 effective date of the Plan.


Optional Forms Of Payment

You may elect to receive your retirement income under options which provide for different benefits payable for your lifetime and guaranteed to continue to a beneficiary for a period of five, ten, or fifteen years following retirement.

If one of these options is elected, the post-retirement death benefit provisions for married employees is not applicable.


Death Benefits

Pre-retirement Death Benefits:
If you are an active or terminated employee who is vested in the Plan, an income will be paid to your beneficiary if you die before retirement benefits begin.
 • If you are married, the monthly benefit to your spouse will be fifty percent (50%) of the amount you would have received if you had been retired at the time of your death, payable in monthly installments for life. You must have been married to your spouse for at least one (1) year prior to your death.
 • If you do not have a spouse, the pre-retirement death benefit for your beneficiary will be the amount you would have received if you had been retired at the time of your death, payable in monthly installments for ten years.


Post-retirement Death Benefits:
After you start receiving benefits and upon your death, benefits will be paid to your surviving spouse or beneficiary based on the form of Retirement Income you elected when you retired, and the benefit you were receiving prior to your death.


Disability

Definition of Disability:
A medically determinable physical, and or mental impairment that is severe enough to prevent an individual from doing “substantial gainful work” (as defined below), resulting from an anatomical, physiological, or psychological abnormality which is demonstrable by medically acceptable clinical and laboratory diagnostic techniques and which is expected to last for at least twelve (12) months or to result in death. During the first 24 months, “substantial gainful work” shall mean the duties that the individual was hired to perform for the Board. After the first 24 months, “substantial gainful work” shall mean any occupation for which the individual is reasonably suited by reason of education, training or experience. Disability shall not include any physical or mental impairment occurring within five (5) years following date of Employment for which medical treatment was provided within twelve (12) months immediately preceding Employment.

Determination of Disability:
The determination of whether you meet the definition of Disability will be made by the Committee (or its delegate), in their sole discretion, in accordance with uniform principles consistently applied, upon the basis of such evidence as the Committee deems necessary and desirable.

Disability Income Benefits:

Should you become disabled, you will be entitled to a monthly income equal to one-twelfth of sixty percent (60%) of your Earnings in the calendar year preceding your Disability, or 60% of your current monthly earnings, whichever is greater. Disability Income Benefits will be the amounts necessary, when added to benefits available under other plans, to provide the 60% benefit level.

Other plans include the Teachers Retirement System of Georgia, the Public School Employees Retirement System of Georgia, workers’ compensation, Social Security, and any successors thereto. You must first apply for benefits from such other plans. If you do not apply for benefits from another plan for which you could be eligible, no Disability Income Benefits are payable or will accrue under the Plan.

Disability Income Benefits will begin on the first day of the month following the completion of the last of the following conditions:

  a) 180 days from the first day you are absent from Employment on an approved short-term disability leave of absence as determined by the Board of Education’s policy.

  b) Upon a determination by the Committee (or its delegate) that you meet the definition of Disability; and

  c) When all of the following payments have been completed: short-term disability payments; sick leave payments; vacation payments; payments under the Sick Leave Bank Plan.


Disability Accrual Benefits:

After you begin receiving Disability Income Benefits, your Retirement Income Benefits will continue to accrue. In determining your Accrued Benefits, your annual Earnings will be considered to be equal to your Earnings in the last complete calendar year preceding your commencement of Disability Income Benefits. Upon reaching Normal Retirement Age, your benefit will be the greater of your Accrued Retirement Benefits or the Disability Income Benefit you were receiving immediately prior to your Normal Retirement Date.

Termination of Disability Benefits:

Any of the following conditions will be cause to terminate your Disability Income Benefits:
  a) If you engage in any substantial gainful work as defined under Definition of Disability above; or
  b) If it shall be determined on the basis of a medical examination that you no longer meet the definition of Disability; or
  c) If you refuse to undergo a medical examination at the Committee’s request; or
  d) If you fail to provide medical documentation of continuing disability when requested every six to twelve months by the Committee; or
  e) If you return to active Employment with GCPS; or
  f) Upon your death.

In addition, if you settle a workers’ compensation claim, you will be considered terminated as of the date of your last workers’ compensation payment.

Recovery from Disability:
Should you recover from Disability before your Normal Retirement Date, your Disability Benefits will terminate and you will begin to accrue Retirement Benefits upon your re-employment.

If you do not return to work and remain employed, your Employment will be considered to have terminated as of your Severance from Service Date and you may be entitled to Termination Benefits calculated as of your Severance from Service Date.


Other Information

Circumstances Where Benefits Could Be Forfeited:
  • All Benefits are forfeited if your employment is terminated before you have five (5) years of service.
  • You do retain your rights to benefits until you are legally deceased.
  • The assets for the Plan are maintained in a tax-qualified trust fund. If the Plan is terminated, some benefits for employees may be lost if those assets are not large enough to cover the benefits under the Plan.
  • Upon your death, death benefits may be payable to your spouse or beneficiary.

Re-employment:

Once you terminate your employment with GCPS, a break in service occurs when you do not return to work in the twelve-month period following the date of termination. If you return to work within twelve months of the termination, you are credited for service for vesting but your period of absence is not included in determining the amount of your Plan benefits. If you had at least five years of service at the time of termination of employment and are rehired, your previous service and benefits earned before termination are restored once you have completed a year of service after re-employment if you have not received a lump sum payment.

If you are rehired and did not have five or more years of service at the time of termination of employment, your previous service and benefits earned before termination will be restored after you have completed one
year of service, but only if you did not have a five year or greater break in service. If you are rehired after receiving a lump sum payment from the Plan, you will lose the previous service for purposes of determining future Plan
benefit. However, you may repay the lump sum distribution to GRS with 5% interest compounded annually from the date of distribution to re-establish prior benefit credit for a future retirement date.


Planning to Retire Soon?

The Gwinnett Retirement Department staff is at your service. To get the most current information and begin your retirement application process, please contact us at 678-301-6269. The friendly and helpful staff will provide all the information needed to get the process started. We will confirm your eligibility date, go over the Gwinnett Retirement System benefit options, provide you with benefit payment estimates and help you complete any forms that will be needed. Your decisions are important and your privacy is respected. We take pride in providing individual retirement counseling sessions, so that you can make informed decisions about your retirement benefits. Our staff will assist you every step of the way. We consider ourselves as part of a team, helping build your financial bridge into the future.

Since employees of Gwinnett County Public Schools are also members of the State of Georgia Teachers Retirement System or the State of Georgia Public School Employees Retirement System we can assist you with completing these applications too.

Former Gwinnett County Public Schools Employee

If you are a former Gwinnett County Public Schools employee and were vested in the Gwinnett Retirement System, you can down load forms for making an application for payment of benefits as defined by the Gwinnett Retirement System Plan Document. Former Employee - GRS Benefit Application Forms. If you have any questions about your eligibility for a benefit, or need help in completing the forms, please call us at 678-301-6269 for assistance.

Once you have printed and completed the application forms, mail them to: Gwinnett Retirement Services Department, Gwinnett County Public Schools, Instructional Support Center, Building 100, 437 Old Peachtree Road, Suwannee, Georgia, 30024-2978.