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Employees Retirement System says $500 million installment should raise funded ratio toward 80%
Summary
The Employees Retirement System of Georgia told the committee a planned $500 million installment will reduce unfunded liability and is expected to boost the system's funded ratio from roughly 72% to the mid-70s, with a stated goal of reaching 80%.
Jim Potvin, executive director of the Employees Retirement System of Georgia, told the joint appropriations panel that a second $500 million installment proposed in amended FY25 budgets would be applied directly to reducing the retirement system's unfunded liability.
The payment is part of required actuarial contributions the system calls the ADEC. "Each one of these $500,000,000 installments reduces directly the…
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