HOME | VIRGINIA RETIREMENT SYSTEMLOGINWEB POLICYEMPLOYERSMEMBERS SHOW MENURETIREES SHOW MENUDEFINED CONTRIBUTION PLANS Helping members plan for tomorrow, today. Understand your VRS retirement plan provisions and benefits. All forms are fillable and ready for download and printing. VRS accepts all forms by mail or fax. Fax to: 804-786-9718. A wealth of information organized by category, including e-newsletters, plan handbooks and other publications for

active

CAREERS | VIRGINIA RETIREMENT SYSTEM VRS has embraced a set of core values to guide the day-to-day actions of the agency. Integrity - Act with Integrity as we perform our role and represent VRS. Teamwork - Display Teamwork as we create, plan and execute our work in a trusting and caring way. Accountability - Demonstrate Accountability in our words, actions and decisions as we

work

VRS PURCHASE OF PRIOR SERVICE Hybrid members: See related Hybrid Retirement Plan resources. You may be able to purchase service from previous public employment, active duty military service, an eligible period of leave or VRS refunded service as service credit in your plan. Prior service credit counts toward the five years needed to become vested and eligibility for retirement and the health insurance credit. VRS DISABILITY RETIREMENT

TAKING A REFUND

Taxes on Refunds. If you have your refund paid directly to you, VRS will withhold federal taxes of 20% and, if you live in Virginia, state taxes of 4%. Any after-tax member contributions in your refund will not be taxed again. If you receive your refund before age 59½, the Internal Revenue Service (IRS) may impose an additional 10% tax

penalty

VIRGINIA SICKNESS & DISABILITY PROGRAM (STATE EMPLOYEES Virginia Sickness & Disability Programs for Active Members. If you are a state employee in VRS Plan 1, VRS Plan 2 or the Hybrid Retirement Plan, the State Police Officers' Retirement System (SPORS) or the Virginia Law Officers' Retirement System (VaLORS), you are enrolled automatically in the Virginia Sickness and Disability Program (VSDP)

upon employment.

MYVRS

myVRS. Skip to main content. 1200 East Main Street. Richmond, VA 23219. 1-888-827-3847. REQUEST FOR INCOME TAX WITHHOLDING (VRS-15) VRS-15 (Rev. 08/20) *VRS-000015* REQUEST FOR INCOME TAX WITHHOLDING 2. Phone Number www.varetire.org Complete this form to request or make changes to your income tax withholding. DESIGNATION OF BENEFICIARY (VRS-2) VRS-2 (Rev. 02/20) PART D. BENEFICIARIES FOR VRS DEFINED BENEFIT MEMBER ACCOUNT RETIREMENT CONTRIBUTIONS/ BENEFITS Check ONE: I revoke any previous designations and elect payment of VRS defined benefit retirement contributions/benefits to be made by order of precedence

established by law.

APPROVED DOMESTIC RELATIONS ORDER FOR VIRGINIA RETIREMENT Option 2: This Order assigns to the Alternate Payee an amount equal to _____% of the Member’s gross monthly benefit as calculated by VRS as of the Member's benefit commencement date. VRS will pay this amount directly to the Alternate Payee, provided HOME | VIRGINIA RETIREMENT SYSTEMLOGINWEB POLICYEMPLOYERSMEMBERS SHOW MENURETIREES SHOW MENUDEFINED CONTRIBUTION PLANS Helping members plan for tomorrow, today. Understand your VRS retirement plan provisions and benefits. All forms are fillable and ready for download and printing. VRS accepts all forms by mail or fax. Fax to: 804-786-9718. A wealth of information organized by category, including e-newsletters, plan handbooks and other publications for

active

CAREERS | VIRGINIA RETIREMENT SYSTEM VRS has embraced a set of core values to guide the day-to-day actions of the agency. Integrity - Act with Integrity as we perform our role and represent VRS. Teamwork - Display Teamwork as we create, plan and execute our work in a trusting and caring way. Accountability - Demonstrate Accountability in our words, actions and decisions as we

work

VRS PURCHASE OF PRIOR SERVICE Hybrid members: See related Hybrid Retirement Plan resources. You may be able to purchase service from previous public employment, active duty military service, an eligible period of leave or VRS refunded service as service credit in your plan. Prior service credit counts toward the five years needed to become vested and eligibility for retirement and the health insurance credit. VRS DISABILITY RETIREMENT

TAKING A REFUND

Taxes on Refunds. If you have your refund paid directly to you, VRS will withhold federal taxes of 20% and, if you live in Virginia, state taxes of 4%. Any after-tax member contributions in your refund will not be taxed again. If you receive your refund before age 59½, the Internal Revenue Service (IRS) may impose an additional 10% tax

penalty

VIRGINIA SICKNESS & DISABILITY PROGRAM (STATE EMPLOYEES Virginia Sickness & Disability Programs for Active Members. If you are a state employee in VRS Plan 1, VRS Plan 2 or the Hybrid Retirement Plan, the State Police Officers' Retirement System (SPORS) or the Virginia Law Officers' Retirement System (VaLORS), you are enrolled automatically in the Virginia Sickness and Disability Program (VSDP)

upon employment.

MYVRS

myVRS. Skip to main content. 1200 East Main Street. Richmond, VA 23219. 1-888-827-3847. REQUEST FOR INCOME TAX WITHHOLDING (VRS-15) VRS-15 (Rev. 08/20) *VRS-000015* REQUEST FOR INCOME TAX WITHHOLDING 2. Phone Number www.varetire.org Complete this form to request or make changes to your income tax withholding. DESIGNATION OF BENEFICIARY (VRS-2) VRS-2 (Rev. 02/20) PART D. BENEFICIARIES FOR VRS DEFINED BENEFIT MEMBER ACCOUNT RETIREMENT CONTRIBUTIONS/ BENEFITS Check ONE: I revoke any previous designations and elect payment of VRS defined benefit retirement contributions/benefits to be made by order of precedence

established by law.

APPROVED DOMESTIC RELATIONS ORDER FOR VIRGINIA RETIREMENT Option 2: This Order assigns to the Alternate Payee an amount equal to _____% of the Member’s gross monthly benefit as calculated by VRS as of the Member's benefit commencement date. VRS will pay this amount directly to the Alternate Payee, provided

INVESTMENTS

Investments | Virginia Retirement System. Breadcrumb. Home. Investments. VRS provides quarterly asset allocation reports and fund performance summaries for the VRS portfolio. Note: These are posted about six weeks after the end of the quarter. 2020. VRS DISABILITY RETIREMENT Under the provisions for VRS disability retirement, a disability may be: The result of a physical illness or injury or a cognitive condition. A cognitive disability is a loss or deterioration in intellectual capacity, such as Alzheimer’s disease. Non-work related

or work-related. A

VIRGINIA SICKNESS & DISABILITY PROGRAM (STATE EMPLOYEES Virginia Sickness & Disability Programs for Active Members. If you are a state employee in VRS Plan 1, VRS Plan 2 or the Hybrid Retirement Plan, the State Police Officers' Retirement System (SPORS) or the Virginia Law Officers' Retirement System (VaLORS), you are enrolled automatically in the Virginia Sickness and Disability Program (VSDP)

upon employment.

GETTING READY TO RETIRE Meet with a counselor at the VRS Retirement Counseling Center at 1111 East Main Street in downtown Richmond. Sessions are offered on a first-come first-served basis between 8:30 a.m. and 4 p.m., Monday through Friday. Limited scheduled appointments are available. Go to LIFE INSURANCE BENEFITS You retire on July 1, 2022. Your compensation at retirement is $49,780; for your life insurance coverage, that amount is rounded to $50,000 then doubled to equal $100,000. On January 1 following one calendar year after your employment ends (January through December), your life insurance coverage reduces 25%.

LEAVING EMPLOYMENT

Options if You Leave Your Job. If you leave covered employment before retirement, you can: Take a refund of your member contributions and interest. Taking a refund cancels your membership and eligibility for any future benefits; or. Leave your funds with VRS and become a deferred member. If you are vested, you may be eligible for a future COST-OF-LIVING ADJUSTMENT (COLA) Cost-of-living adjustments (COLAs) allow your retirement benefit to keep pace with inflation. The COLA is based on the Consumer Price Index for all Urban Consumers (CPI-U), published by the U.S. Bureau of Labor Statistics and updated each July 1. During years of no inflation or deflation, the COLA is 0%. If you retired under the Basic Benefit

EMPLOYER WEBSITE

Do you need help administering Virginia Retirement System benefits? Visit and bookmark the VRS Website for Employers to find info on training, financial reporting, plans 2021 VRS LEGISLATIVE SUMMARY MAY 2021 IN THIS ISSUE 1-2 2021 Bills 3 State Budget 2021 Legislative Summary VRS-RELATED BILLS This summary provides an overview of bills passed during the 2021 session of APPLICATION FOR SERVICE RETIREMENT (VRS-5) VRS-5 (Rev. 08/20) *VRS-000005* APPLICATION FOR SERVICE RETIREMENT P.O. Box 2500 Toll / 01 / 3 PART A. MEMBER INFORMATION 4. Name (First,

Middle Initial,

Search query

Skip to main content for Members and Retirees __ Use the up and down arrows to select a result. Press enter to go to the selected search result. Touch device users can use touch and swipe

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* Already Retired?__ VRS Website for Members and Retirees __ __ / Back to Main Menu Already Retired?__ * Just for Retired Members__ VRS Website for Members and Retirees __ __ / Back to Already Retired? Just for Retired Members__ * Cost-of-Living Adjustment (COLA) * Direct Deposit Schedule * Insurance in Retirement * Receiving Your Benefit * Retiree e-Newsletters * Milestones for Retired Members__ VRS Website for Members and Retirees __ __ / Back to Already Retired? Milestones for Retired Members__ * Naming a Beneficiary * Updating Your Information * Working After Retirement

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VRS offices will be closed February 15 in observance of a state

holiday.

COVID-19 Response: No in-person VRS services are available; contact us for phone and virtual appointments. Latest Updates COVID-19 RESPONSE: NO IN-PERSON VRS SERVICES ARE AVAILABLE. Contact us for phone and virtual appointments. Latest

Updates

for Members and Retirees__ Member Site for Members and Retirees

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for Members and Retirees __ * DCP Account Access

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* Already Retired?__

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ALREADY RETIRED?

Explore resources just for members that have already retired. View Resources for Retired Members__ * Just for Retired Members * Cost-of-Living Adjustment (COLA) * Direct Deposit Schedule * Insurance in Retirement * Receiving Your Benefit * Retiree e-Newsletters * Milestones for Retired Members * Naming a Beneficiary * Updating Your Information * Working After Retirement

* About VRS__

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ABOUT VRS

Our mission is to deliver retirement and other benefits to Virginia public employees through sound financial stewardship and superior

customer service.

Learn More About VRS__ * Overview, Mission & Vision

* Membership

* History

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* Board Meetings & Minutes

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* Annual Reports

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EDUCATION

Explore in-class sessions, webinars, e-learning, videos and counseling

opportunities.

View Education & Counseling Resources__ * Plan 1 & 2 Active & Retired Members * Retirement Planning

* Benefit Topics

* Financial Literacy * Regional Appointments __External Site Link * myVRS Financial Wellness * Just for Hybrid Plan Active & Retired Members * Hybrid Plan Education __External Site Link * Hybrid Plan Learning Channel __External Site Link * Retirement Planning

* Benefit Topics

* Financial Literacy * Defined Contribution Learning Opportunities __External Site Link * Retirement Plans__

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RETIREMENT PLANS

Not sure which plan you are in? Watch this video. __ Visit Retirement Plans Home__

* Plan 1

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BENEFITS & PROGRAMS

Helping members plan for tomorrow, today. Understand your VRS retirement plan provisions and benefits. View Benefits & Programs__

* Benefits

* Life Insurance

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* Severance

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* Forms__

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FORMS

All forms are fillable and ready for download and printing. VRS accepts all forms by mail or fax. Fax to: 804-786-9718.

View All Forms__

* Approved Domestic Relation Orders (ADRO) * Disability Retirement * Hybrid Retirement Plan * Group Life Insurance * Active Member Forms

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* Retired Member Forms * Virginia Sickness & Disability (state only) * Life & Health Insurance * Update Your Information

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PUBLICATIONS

A wealth of information organized by category, including e-newsletters, plan handbooks and other publications for active and

retired members.

View All Publications__ * Hybrid Retirement Plan

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* ____

03-06-2021

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VRS offices will be closed May 31 in observance of a state holiday.

Find it fast

The most sought-after resources for Active and Retired VRS members.

Quick Topics____

Calculators Life Insurance

Health Insurance

Credit Purchase of Prior Service Education & Counseling

Leaving Employment

Taking a Refund

__photo creditPhoto Illustration: Rockingham County

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MILESTONES

Considerations when you move, retire, leave your job, have a family change or return to work.

*

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EDUCATION & COUNSELING Webinars, e-learning and videos to make you an expert in VRS benefits.

*

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MEMBER BENEFIT PROFILE Your annual benefit statement isn’t a crystal ball, but it does help

you see the future.

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MYVRS FINANCIAL WELLNESS Reduce your financial stress and start managing your money better.

NEWS AND INSIGHTS

FEATURED

BE ALERT OF UNSOLICITED COUNSELING SERVICES Protect yourself by learning to identify non-VRS solicitors.

Learn More __

REDUCE YOUR FINANCIAL STRESS myVRS Financial Wellness tips, tools and time-savers will help you build the future you imagine.

Learn More __

REDUCE YOUR TAXABLE INCOME THROUGH DEFERRED COMPENSATION Increase your retirement savings and reduce your taxes now.

Learn More __

TAXES AND YOUR RETIREMENT BENEFIT It's tax season—Retirees find out more about your 1099-R.

Learn More __

FAMILY ADDITION? UPDATE YOUR BENEFICIARIES You can name beneficiaries at any time while an active, deferred or

retired member.

Learn More __

BE ALERT OF UNSOLICITED COUNSELING SERVICES Protect yourself by learning to identify non-VRS solicitors.

Learn More __

REDUCE YOUR FINANCIAL STRESS myVRS Financial Wellness tips, tools and time-savers will help you build the future you imagine.

Learn More __

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WHAT'S NEW

*

MEMBERS: READ THE LATEST ISSUE OF MEMBER NEWS

View the May issue.

*

RETIREES: VIEW THE 2021 DIRECT DEPOSIT SCHEDULE Find out when your retirement benefit hits your bank account.

*

MEMBERS: STAY ON TOP OF YOUR RECORDS The VRS Get Organized Guide can help.

*

RETIREES: RECEIVE THE HEALTH INSURANCE CREDIT? REPORT PREMIUM CHANGES Notify VRS of any changes to your health insurance plan premiums.

*

VRS COMPREHENSIVE AND POPULAR ANNUAL FINANCIAL REPORTS AVAILABLE Financial and statistical results for fiscal year 2020.

See All

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COUNSELING CENTER 1-888-827-3847 COVID-19: No in-person services available. 1111 East Main Street

Richmond VA 23219

Mon - Fri, 8:30 a.m.– 4:00 p.m. __ Map & Directions  | __ Contact

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