New GTX 980 TI Screen Tearing Issue

Hi everyone, hopefully you guys can help.

I just installed my new GTX 980 TI and am having an issue with a lot of screen tearing, even with vsync turned on. I've looked at multiple reviews and troubleshooting guides and nothing has fixed this issue. Whats more, no one else seems to be experiencing the same issue. I have uploaded the specs of my rig for your reference.

When running benchmark programs, I'm getting less than 20 FPS with and without vsync enabled. Drivers are up to date as well, so I don't know what else to try at this point. My monitor is a Monoprice 27 inch that runs at 2560x1440 resolution @60hz.

My old GTX 780 worked fine, so I was surprised I had an issue.

Also, I get an error in Geforce Experience like the one in the screenshot, also attached.

Please help! Thanks in advance!
 

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What size do you think I would need? I looked at the minimum recommended wattage for the 980 Ti and it said 650, but perhaps because of the age of the power supply it is not efficient? I forgot to mention I do have a second monitor in my setup as well that is 23 inches. Since I only have an extra 100 wattage to play with I could see that being a problem.
 
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