By Steve Metz
Georgia’s Teachers Retirement System (TRS) represents a significant cost to taxpayers and an important part of teachers’ compensation and benefits package. The current system is typical of government / teacher pension plans set up many years ago and it serves many teachers well (especially those who put in 30 or 40 years). There are a lot of situations where it does not work well in today’s world however, and there are many reasons to believe it should be revised.
From an employer’s perspective, a retirement plan should help with the Three R’s: Recruiting, Retaining and Rewarding employees. In the rest of this discussion I will address how the TRS could be modified to better meet these objectives.…