Resource Center for VRS Employers: Hybrid Retirement Plan

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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 applies to most members hired on or after January 1, 2014, and employees who elected to opt into the plan in 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

 

VRS