Proposal Could Affect Georgia Teachers’ Pension Payments
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Proposal Could Affect Georgia Teachers' Pension...
In the School Report...it's a proposed change to the way Georgia teachers receive pensions. Count on WJBF News Channel 6's Fraendy Clervaud to explain.
In the School Report…it’s a proposed change to the way Georgia teachers receive pensions. Count on WJBF News Channel 6’s Fraendy Clervaud to explain.
Augusta, GA—It’s a change that worries many teachers. The Teachers Retirement System wants to change the way retired teachers get their pension payments. Currently, teachers are guaranteed 1.5 percent increases twice each year, but under a new proposal that could stop.
Jeffery Ezell, Teachers Retirement System of Georgia: “What the proposal on the tables does is…it removes the word ‘will’ and changes it to ‘may’ and instead of it saying that it would be one and a half percent, it would be up to one and a half percent.“
And it’s that word, ‘may,‘ that worries some teachers. They worry the change could affect the amount of money they receive for cost of living adjustments, but Ezell says there’s no need to worry.
Ezell: “Changing the terminology itself doesn’t mean anything. It would require the board, on an annual basis, to look at the COLA, and decide, I’ll say, based upon the financial condition of the system…could be some other factors brought into play.“
The board will vote on the proposal November 19th.
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