ATLANTA - More than 15,000 retired Georgia teachers will get back payments from the Teachers Retirement System of Georgia under a settlement reached Monday.
The agreement between TRS Georgia and the plaintiffs ended a 5-year class-action lawsuit following a hearing in Fulton County Superior Court. It could take two months to calculate how much each person will receive.
Plaintiffs contend that TRS Georgia, which has about $42 billion in retirement funds, did not correctly calculate retirement benefits.
TRS Georgia, which has two other similar lawsuits pending, will give payouts to those school employees who retired between Aug. 1, 1983, and Feb. 3, 2003.
The back payments cover the six-year period of April 1998 to April 2004 before the filing of the lawsuit.
Monday
October 7th, 2024
1:21PM
