Eligible Plan 1 and Plan 2 members (those currently enrolled in the VRS) may elect to opt-into the VRS Hybrid Retirement Plan during a one-time election period from January 1 to April 30. An election to opt into the Hybrid Retirement Plan cannot be changed after April 30.
The Opt-In Period for VRS Hybrid Retirement Plan Ends April 30
The 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 to the plan and the investment performance of those contributions.
Read the Special Issue of Member News 262kb for more information about the plan, eligibility, how to opt in and resources available to you, including the Hybrid Plan Calculator (available in early January) in your myVRS account. A detailed instruction guide is available once you access the calculator. Also, you should frequently check the VRS website for additional educational opportunities.
Log in or create a myVRS account to access the Hybrid Plan Calculator (available in early January), check your member account balance or create a benefit estimate. Subscribe to Member News to receive the latest information about your VRS benefits.