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Thursday, November 14, 2024

Georgia reports $5.4 million in public pension contributions in 2022

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Governor Brian Kemp (2022-2026) | GOVERNOR BRIAN P. KEMP OFFICE of the GOVERNOR

Governor Brian Kemp (2022-2026) | GOVERNOR BRIAN P. KEMP OFFICE of the GOVERNOR

In 2022, Georgia had received $5.4 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

Of that amount, $4.6 million was in state pension funds, and the remaining $835,298 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Georgia reported data from 68 pension systems, including 13 state-level pension funds and 55 local-level systems. The total number of pension system members was 1,041,645 (900,288 at the state level and 141,357 at the local level).

Contributions to Georgia's public pension funds
LocalStateLocal & State
Employee contributions$148,403$942,877$1,091,281
Government contributions$686,895$3,649,722$4,336,617
Total Contributions$835,298$4,592,599$5,427,898
Source: US Census Bureau

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