Hybrid Retirement Plan
The 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.
It’s important to understand both compentes of your hybrid plan before we go into more specifics on the VRS Defined Contributoion Plan (DCP) component.
Defined Benefit
- 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.
Defined Benefit
- 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
Jump start your financial future, today.
future, today.
Log in now to the DCP component of your Hybrid Retirement Plan to help realize your retirement goals. If you are already saving, take action to manage your account.
