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Retirement Resources

Retirement Statement Info

Estimated Retirement Statement Information

For full time employees, hired before October 1, 2008:
Our annual retirement statement estimates are now available from the Georgia Municipal Association. Someone from your department will be handing them out in the next few days.

Please go over your statement and make sure your info is correct (name, date of hire and date of birth). There is important information on the front and back of these statements that explains how the estimated retirement benefit was calculated.

Listed below are commonly asked questions:

Question: I am a new employee. Why did I not get a pension statement?
Answer: The pension statements are done once per year. This year the date used was October 1, 2009. The October 1, 2009 date that was used determines who is eligible under the plan. You have to be here one year before you qualify to be a participant. After 1 year of service, you are eligible to participate. Your eligibility includes a death and disability benefit. You are still getting credit for years of service based on your date of full time employment with the City. Employees with a hire date after September 30, 2008 will not receive a pension statement this time. However, they will receive one next year at this time if they continue their employment with the City.

Question: In the past, I am used to getting this estimated retirement statement in September. Why the different time of year?
Answer: The City of Roswell requested the timing of this process be changed in 2008 in order to determine the actual cost of funding the pension plan for 2009-2010 budget year. This will help to know the actual cost every budget year going forward. The City funds this benefit at 100%.

Question: Why is the October 1, 2009 date being used?
These estimated retirement statements are done once per year and the information is based on a snapshot in time, which is October 1st. There are assumptions made, based on the date, to help you better understand the estimated information provided. In the past, July 1st was used.

Question: Why do I have an early retirement date (ERD) on my estimated retirement statement, but one of my co-workers does not?
Answer: Many employees are eligible for more than one of the three different types of retirement (early, normal and rule of 80) during their career with the City. Due to the age of each employee when they started with the City and their number of years of service, some of us will qualify for early retirement first, before we become eligible for one of the other two options. If those in that group work longer, they could either meet rule of 80 or normal retirement age (65) with the additional years of service.

Question: Why is Rule of 80 not listed on my estimated retirement statement?
For those employees who are currently eligible for Rule of 80, or will be eligible for Rule of 80 before turning age 65, GMA uses NRD (Normal Retirement Date).

Question: I am thinking about retiring this year or next. Can I get a more accurate estimate of what my retirement benefit could be with a beneficiary option?
Answer: Yes. Please contact Karin Grindstad in Human Resources at 770-594-6444. She can do an estimate for you that more accurately reflects your actual earnings, current years of service, beneficiary information and comparisons of retiring this year vs next year.

Question: Why are my earnings different on my W-2 and my estimated retirement statement?
Answer: Your estimated retirement statement only reports your annual salary based on your hourly rate as of October 1, 2009. This snapshot in time gives GMA the necessary information to base our funding requirements for the upcoming fiscal year. At the time of your application for retirement, the average of your 3 highest consecutive years of salary is used. Your salary includes overtime, shift differential, unused PTO and comp time, as well as up to 240 hours of sick time (if you have that much and you are eligible for retirement at the time of termination of employment from the City).

Question: Will I get a statement every year from the city, even after I terminate employment?
Answer: No. These statements are provided for active full time employees.

Question: When can I make beneficiary changes?
Answer: Any time during the year. Human Resources has a form to fill out for that type of change. Please be sure to keep your beneficiary info updated as needed.

For further questions about this benefit, please contact Karin Grindstad at or 770-594-6444.