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TRS: Teachers Retirement System of Georgia www.gae.org | 29 Worried about retirement? GAE-Retired has you covered! PRE-RETIREMENT SEMINAR (ATHENS AREA) Saturday, Sept. 24,2016 9am–1p GAE members and non-members who are within five years of retirement Breakfast provided. Seminar sessions focus on the following: • Retirement financial planning • How GPO/WEP and Social Security may affect you • Your mental and physical health in retirement • Keep Growing and Keep Knowing— Using GAE and NEA Member Benefits • Teacher Retirement System (TRS) of Georgia For further information, contact GAE-Retired Vice President Sandra Hawthorne: sandramarie516@gmail.com or 706.570.4740 To RSVP, click here or go to http://goo.gl/forms/9GJaxneZHr. sponsored by GAE-Retired Tis the Season It’s that time of year when many teachers, who have dedicated their careers to educating our children, begin their journey toward retirement. We are well into the busy 2016 retirement season and it looks like the numbers are similar to last year. In January, TRS had 493 retirements, a few short of a year ago in which we had 566 members retire. As of the beginning of May, we have received 2,945 June 2016 retirement applications, which is comparable to the June 2015 number of 2,893. As far as July 2016 retirement applications, we have received 472 so far, which is also comparable to the July 2015 number of 528. Retirement is an exciting time…for some it’s an opportunity to travel and spend more time with family…for others it’s an opportunity to start a second career or volunteer. Regardless of what our members do in retirement, all of our retiring members have worked hard and deserve to enjoy the well-earned benefits provided by the State. MEMBERSHIP STATS We have hit a new milestone and now have a total of 114,649 TRS retirees. New service retirees with 25 or more years of service received an average monthly benefit of $3,358 and retired with an average service of 30.7 years at 59.2 years of age. Approximately 7,000 to 7,200 members retire each year and we have over 7,300 retirees over the age of 85. It is our pleasure to provide all of our retirees with the professional customer service they deserve and an assurance that their retirement benefit will be paid timely and accurately each and every month. We estimate that TRS will pay approximately $4.2 billion in benefits to retirees for fiscal year 2016, 89% of whom reside in Georgia. As consumers, retirees pump money back into their communities through expenditures on goods and services. These expenditures increase economic demand and encourage employment. This unrecognized power of our retirees has a substantial impact on Georgia’s economy. Fueled by Social Security, pension funds, and other savings, retirees often start small businesses of their own and create the need for service industry and medical jobs in the community. WE’RE HERE TO HELP We are not only available to answer questions by phone and email, but we also have staff who travel throughout the State providing customer service to all of our members. We are more than happy to come speak at conferences and meetings to provide you with an update on TRS. Just call TRS at 404-352-6500 and ask for Mike Zarem if you are interested in having someone come out. And always feel free to contact us and let us know how we’re doing. We always welcome your feedback! Jeff Ezell Editor’s note: Executive Director Jeff Ezell has announced his retirement effective July 31. Appointed Director of TRS on January 1, 2000, Mr. Ezell has been the Executive Director for over 16 years, having done an outstanding job in making our teacher retirement system one of the best in the nation. JOIN GAE-PRE-RETIRED NOW! BE A GAE-RETIRED MEMBER FOR LIFE! WHAT: GAE-Pre-Retired membership WHO: anyone who is a GAE member HOW: GAE membership enrollment form (code RT-9-7) DUES: $400 lifetime PAYMENT METHODS: cash, check, money order, credit card, or Easy Pay* *Easy Pay=(EFT (electronic funds transfer) through checking account $33.33 per month for twelve months September 2016 through August 2017 Don’t wait until you retire; membership dues will only increase between now and then. LOCK IN YOUR GAE-RETIRED DUES AT TODAY’S RATE! Do you know retired educators who were not GAE Active members? They are now eligible to join GAE-Retired! For further information, contact GAE-Retired Vice President and Membership Committee Chair Sandra Hawthorne sandramarie516@gmail.com or 706.570.4740 or GAE-Retired President Karen Solheim GAE.Retired.President@gmail.com or 706.202.7515


KNOW_Summer_2016_Digital
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