The 2010 General Assembly established the Transitional Benefits Program to allow school divisions and VRS-participating political subdivisions to provide a transitional severance benefit or an enhanced retirement benefit to employees who are involuntarily separated from employment. Involuntary separation is a layoff because of a budget reduction, agency reorganization, workforce downsizing or other causes not related to job performance or misconduct.
The program is effective through June 30, 2020 (refer to Item 474 in the 2019-2020 state budget bill). The General Assembly may or may not continue the program in subsequent budgets or establish it as a permanent program under the Code of Virginia.
Teachers, other school employees (cafeteria workers, bus drivers and maintenance workers) and political subdivision employees are eligible for benefits under the program, depending on your election. Sheriffs, treasurers, commissioners of revenue, commonwealth attorneys and circuit court clerks are not eligible for the Transitional Benefits Program. However, personnel reporting to these employees are eligible for the program.
If you elect this program, the cost of enhanced retirement benefits will be factored into your future employer contribution rate. For teachers, the costs associated with benefits provided by electing school divisions will be factored into the future pooled VRS contribution rate for teachers.
If you are interested in electing this benefit, please contact your VRS Employer Representative.