Resource Center for VRS Employers: Hybrid Retirement Plan: Defined Contribution Component

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    Plan Info


    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.

    Defined Benefit Defined Contribution
    • 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