Georgia Defined Contribution Plan
The Georgia Defined Contribution Plan (GDCP) was created by the 1992 Georgia Law, Act 996 effective July 1st, 1992.
”The purpose of the law is to provide a retirement system for temporary, seasonal, and part-time employees of the State of Georgia who are not eligible for membership in the Employees’ Retirement System or the Teacher's Retirement System”.
Note: Members of GDCP are only covered for Medicare. There is no Social Security Coverage!
Members contribute seven and one-half percent (7 ½ %) of gross salary to the plan through payroll deductions. The amount deducted is credited to the individual account of the member.