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

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    Plan Info

    Overview

    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 lifetime 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

     

    Learn how the defined benefit and defined contribution components of your plan work together to help you meet your retirement goals.

    Additional Plan Info

     

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