VRS Plan 1

The VRS Plan 1 is a defined benefit plan that provides a lifetime monthly benefit during retirement based on your age, total service credit and average final compensation. Average final compensation is the average of your 36 consecutive months of highest creditable compensation as a covered employee.

Your benefit is funded through member and employer contributions to VRS, which are invested over your career. VRS holds these funds in a trust protected by the Constitution of Virginia. This trust may be used only to pay benefits for VRS members, retirees and beneficiaries.

Covered under plan if:

VRS Plan 2

The VRS Plan 2 is a defined benefit plan that provides a lifetime monthly benefit during retirement based on your age, total service credit and average final compensation. Average final compensation is the average of your 60 consecutive months of highest creditable compensation as a covered employee.

Your benefit is funded through member and employer contributions to VRS, which are invested over your career. VRS holds these funds in a trust protected by the Constitution of Virginia. This trust may be used only to pay benefits for VRS members, retirees and beneficiaries.

Covered under plan if:
  • Membership date is from July 1, 2010, to December 31, 2013, or
  • Membership date is before July 1, 2010, but not Vested as of January 1, 2013.

Hybrid Retirement Plan

A hybrid retirement plan combines a Defined Benefit Component and a Defined Contribution Component. Your Hybrid Retirement Plan can increase when you make voluntary contributions to the defined contribution component of the plan.

Covered under plan if:
  • Membership date is on or after January 1, 2014
  • VRS Plan 1 and VRS Plan 2 members who were eligible to opt into the plan during the special election window in 2014
  • Hazardous duty positions not eligible.

Defined Contribution Plans

Supplemental savings plans help you save more for retirement. These plans are separate from your VRS retirement plan.