ATTENTION: Virginia Retirement System Plan 1 and Plan 2 Participants
The Special Edition of Member News is now available, which features information on the new Hybrid Retirement Plan. The VRS Hybrid Retirement Plan combines the features of a defined benefit plan, which pays a monthly retirement benefit based on age, total service credit and average final compensation, and a defined contribution plan, which provides a retirement benefit based on contributions and the investment performance of those contributions. Current Plan 1 and Plan 2 Participants may opt in during the opt-in period and plan changes will be effective July 1, 2014.
To view the Special Edition of Member News, please go to: http://varetire.org/pdf/publications/member-news-december-2013.pdf or view the Hybrid Retirement Plan site at http://www.varetire.org/members/benefits/hybrid/index.asp