The Teachers Retirement System of Georgia (TRS) held its bimonthly meeting July 24, 2024. The board received the executive director’s operational report along with an update on financial statements. The board also approved the amended fiscal year (AFY) 2025 and fiscal year (FY) 2026 budgets and considered requests for additional TRS employees.
The full agenda and all meeting materials can be found by clicking the button below.
Updating Beneficiary Information | |
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The importance of keeping beneficiary information up to date has been repeatedly stressed in TRS board meetings. More information on this subject can be found in this video or on the TRS website HERE. |
Executive Director’s Report
TRS Executive Director Buster Evans provided updates on the activities of various TRS divisions. Overall, TRS staff continue to see increased service demands from TRS members and other clients. Compared to last year, a higher percentage of communications and outreach is taking place in person instead of virtually.
Evans also provided an update on teacher return-to-work metrics. In FY2024, 382 requests to return to work under the provisions of HB 385 were approved, a substantial increase from last year.
Fiduciary Net Position & FY 2024 Rate of Return
The TRS net position in May 2023 was $91,102,494,861.
The TRS net position in May 2024 was $104,959,613,834.
The TRS net position in June 2023 was $94,991,194,678.
The TRS net position in June 2024 was $106,155,510,220
To date, TRS reports a 14.5% rate of return for FY2024.
TRS Staff Additions
The board approved budget proposals for AFY2025 and FY2026. As part of these proposals, TRS seeks to hire several new employees. This will include two new call center employees to help address increased call volume and wait times.
 | Next MeetingThe next Board of Trustees meeting will be Sept. 25. The full calendar of 2024 TRS Board of Trustees meetings can be found HERE. |