Georgia reinforces its hybrid retirement plan 

In Politics by Michael Rae

The Georgia State Employees’ Pension and Savings Plan (GSEPS) is the retirement plan for state employees hired on or after January 1, 2009. The savings plan combines two different types of retirement designs, consisting of both a defined benefit (DB) and a 401(k)-style defined contribution (DC) portion, making it one of a handful of states that use this hybrid structure. After more than a decade of new hires flowing into this plan, Georgia policymakers are reinforcing their commitment to making the hybrid plan a valuable and adequate benefit for public workers. 

The goal of a hybrid plan is to provide an