Peach State Reserves (401K or 457)
Peach State Reserves (PSR) is a voluntary retirement benefit plan that offers you the opportunity to invest money towards securing the retirement that you envision. Whether you’ve been saving for years or are just getting started, PSR has the tools to help you make your retirement dreams happen. More detailed information is available in the Plan Highlights brochure.
The Benefits of Saving through PSR
- It’s easy – Contributions are made through easy payroll deduction on a pre-tax basis.
- You get tax benefits – Contributions come out of your pay before taxes are deducted, which can lower your taxable income and therefore your current tax bill. And your money can grow faster, since any earnings on your contributions grow tax deferred until withdrawn.
- Once employed, it’s convenient to visit the GaBreeze website at any time to:
- Monitor your account balance
- Obtain your personalized retirement income forecast
- Access investment advice
- Manage your investments and transfer money among funds
- Change your contribution amounts
- Choose Automatic Rebalancing to help keep your investments on track
- Review fund performance
- Download forms via a secured participant mailbox
- Update beneficiary information
- View account statements
Are You Maximizing Your Retirement Savings?
If you are a full-time state employee hired on or after January 1, 2009, you’re a member of the Georgia State Employees’ Pension and Savings Plan (GSEPS). GSEPS members receive a match on contributions to the Peach State Reserves 401(k) Plan. When you contribute 1% of your pay, the state matches your contribution dollar for dollar. For a $30,000 annual salary, that’s your $300 contribution plus an additional $300 matching contribution in your 401(k) every year. But did you also know you get a 50¢ match when you contribute 2% to 5% of your pay? For example, contributing 5% of a $30,000 salary gives you a match of $900 a year. That’s free money. If you’re saving less than 5%, you’re missing out on that extra cash.