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The Georgia State Employees’ Pension and Savings Plan (GSEPS) combines a traditional pension plan with a 401(k) plan that includes an employer match. The 401(k) plan offers flexibility and “portability” and the pension plan rewards state career longevity. A GSEPS New Hire Orientation video is available from the Employee’s Retirement System.

The Defined Benefit component of GSEPS allows us to retain employees that choose to make state government their career – the more years of service, the higher their monthly pension. The 401(k) plan allows us to attract new employees to state government with a matching employer contribution – the more the employee saves, the higher their retirement savings. Together, the new GSEPS plan offers an attractive, competitive and portable pension and savings plan that meets the needs of today’s emerging workforce.

Employees eligible for new membership in Employee’s Retirement System hired on and after January 1, 2009 will be enrolled in the new GSEPS Plan. Employees hired prior to January 1, 2009 maintain their membership in either the ERS “new” or “old” plan.  GSEPS is a combination Defined Benefit/ 401(k) plan and works as follows:

Defined Benefit (DB) Plan

Provides a pension benefit formula of 1% x years of service x highest average salary (30 years = approximately 29% of salary as a monthly benefit*). Vesting for the DB plan is 10 years.

401(k) Plan

Provides State matching up to 5% with member contributing 5%, under the Peach State Reserves 401(k) Plan.

  • Your state employer will match your contribution dollar per dollar, up to 5% of pay. Members saving 5% or more receive a full 5% match. This is a 2% increase from the previous 3% match. 
  • GSEPS members with at least six years of service, and who are contributing at least 5%, will get an additional half percent Employer match for every full year of service in excess of five years, up to a maximum match of 9%.
  • The employer match portion of the member’s 401(k) balance is subject to a 5-year vesting schedule. A member vests 20% of the employer match for each completed year of service in a GSEPS-eligible position.


Pension and 401(k) Plans combined

30 years = approximately 59% of salary* (annuitized). With Social Security benefits, total benefit could provide 90% or more of final salary.

Actuarial Assumptions

*Assumes annual employee 401(k) contribution of 5%, average annual 401(k) investment return of 6% over 30 years, annual salary increase of 3.75% and retirement at age 60 with 30 years of service.

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