The VRS Hybrid Retirement Plan combines the features of a defined benefit plan and a defined contribution plan. The plan will apply to most members hired on or after January 1, 2014, and current employees who elect to opt into the plan during a special election window from January through April 30, 2014.
- Provides the foundation of your future retirement benefit when you qualify
- Pays a monthly retirement benefit based on age, total service credit and average final compensation
- VRS manages the investments and related risk for this component
- Provides a tax-deferred savings plan to build on your benefit from the defined benefit component
- Pays a retirement benefit based on contributions by you and your employer to the plan and the investment performance of those contributions
- You manage the investments and related risk for this component
Additional Plan Info