The Virginia Retirement System is a defined benefit plan that covers all Full-Time employees.  Defined benefit plans promise employees a lifetime monthly benefit payable at retirement. The amount of the retirement benefit is based on a specific formula that uses final average compensation, age and years of service. Employees must meet all other eligibility requirements. For more information, refer to the VRS website and Employment Policies & Procedures Manual.

(Employer Code 55210)

Eligibility
Employees holding Full-Time positions are automatically enrolled in VRS.

Costs
The City pays 20.89% of base pay and employees pay 5% towards VRS benefit 

Beneficiary
Employees should complete a Designation of Beneficiary Form only if they want benefits to be paid differently than the following order or precedence:  LEARN MORE

• Spouse
• Children & descendants of deceased children
• Parents
• Appointed executor or estate administrator

Buying Back Service
If you previously worked in a VRS covered position and received a cash-out or you were in the military, you may want to buy back your service. It's less costly if you apply within the first 3 years of rehire (VRS membership date). The cost is 5% of your earnings at the time of your Application for Purchase of Prior Service Credit (or 5% of the average of your highest 3 consecutive years of earnings, if higher than your current earnings). The cost to buy back service is much higher after 3 years.

• Other next of kin
• Age 50, 10 Years of Service

  You can retire and receive full or unreduced benefits as early as:

• Age 55, 5 Years of Service
• Age 65, 5 Years of Service
• Age 50, 30 Years of Service

Leaving the City but not Old Enough for Retirement?
    VRS 1  View your options
    VRS 2  View your options

                                                           Questions?     Call VRS at 1-888-827-3847.