Virginia Cash Match Plan: Retirement Solutions Made Simple

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Contribution Amount

You contribute to the 457 Deferred Compensation Plan. Your employer contributes to the Cash Match Plan.

Cash Match Plan

  • For salaried employees of the Commonwealth of Virginia, the matching amount is 50 percent of your contribution to the 457 Plan, not to exceed $20 per pay date.* Political subdivisions and school divisions that participate in the Cash Match Plan may establish their own Cash Match amount. *Wage employees are not eligible for the employer Cash Match.
  • If you are a Hybrid Retirement Plan member, you must first maximize your voluntary contributions into the Hybrid 457 Deferred Compensation Plan before receiving a cash match in the Virginia Cash Match Plan.

457 Deferred Compensation Plan: The minimum amount you can contribute is $10 per pay period. The maximum you can contribute is up to 100 percent of includible compensation or the maximum listed in the Commonwealth of Virginia 457 Deferred Compensation Plan Contribution Limits, whichever is less.

Investment Options

The plan offers a variety of investment options - from pre-mixed target date portfolios to a menu of options across asset classes - to construct your investment portfolio. Additionally, the plan offers a Self-Directed Brokerage Account (SDBA) for an additional fee. Publicly traded mutual funds, exchange-traded funds (ETFs) and individual securities are offered through the SDBA. You must have $2,500 in the core investments before investing in the SDBA.

Investment options are available online or by calling toll-free 877-327-5261. If you have any questions about your brokerage account, please contact Charles Schwab at 1-888-393-7272, Monday through Friday, 8 am to 7:30 pm, excluding market holidays. Please consider the investment objectives, risks, fees and expenses carefully before investing.

Charles Schwab & Co., Inc. and MissionSquare Retirement are not affiliated and are not responsible for the products and services provided by the other. Schwab Personal Choice Retirement Account® (PCRA) is offered through Charles Schwab & Co., Inc. (Member SIPC), the registered broker/dealer, which also provides other brokerage and custody services to its customers.

Investment Option Changes

  • You can make changes to your account online or by calling toll-free 877-327-5261 to:
    • Move all or a portion of your existing balances between investment options (subject to Plan rules)
    • Change how your future contributions are invested
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