If a member separates from employment, they can take a refund of their defined benefit member contribution account and/or take a distribution from the defined contribution component. Members may also choose to leave their retirement funds in the Hybrid Retirement Plan.
Workforce Transition Act and Transitional Benefits Program
As a state employee, if your involuntary separation is a layoff because of a budget reduction, agency reorganization, workforce downsizing or another cause not related to job performance or misconduct, you may qualify for Workforce Transition Act benefits.
If you are a school division or political subdivision employee, you may qualify for the Transitional Benefits Program. Sheriffs, treasurers, commissioners of revenue, commonwealth’s attorneys and circuit court clerks are not eligible for the Transitional Benefits Program. However, personnel reporting to these employees are eligible for the program.
More InformationHybrid Retirement Plan Handbook
Leaving Employment Guide VRS