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  1. Employer Update
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  3. Commonwealth of Virginia 457 Plan

Employer Update

Category: Commonwealth of Virginia 457 Plan

A large checkmark following by text saying COV 457 plan

Interested in Adopting the Commonwealth of Virginia 457 Plan? Here’s How

March 2025

Adopting the COV 457 Plan can help ease administrative burdens and provide employees with more savings opportunities.

A man wearing a suit carrying a large 3D dollar sign on his back runs down the street after a large clock with legs wearing dress pants and shiny shoes. To the left of them is text reading time to catch up.

Catch-Up Options Help Members Save More for Retirement

January 2025

Boosting retirement savings toward the end of their careers comes with tax benefits for employees.

A nest with three golden eggs in it next to text reading add more to your nest egg.

IRS Increases 2025 Limits for Tax-Deferred Saving

December 2024

The annual limit applies to hybrid voluntary contributions, other 457 plans and after-tax and pretax Roth contributions.

a man pointing at the viewer next to text saying your turn to ask

Your Turn to Ask

October 2024

We offer a cash match to employees in our local 457 plan. Are Hybrid Retirement Plan members eligible to participate?

A woman holds a nest with eggs in both her hands. To the left is text which reads keep funds with VRS.

Retiring or Separating Employees May Keep Money With VRS

February 2024

As employees retire or leave their jobs, it's important for them to make well-informed decisions about their future savings.

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Richmond VA 23230

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