Employer Update

We offer a cash match to employees in our local 457 plan. Are Hybrid Retirement Plan members eligible to participate?

Yes. However, for Hybrid Retirement Plan members, the VRS plan is their primary retirement plan. To take full advantage of the 2.5% employer match, they should maximize their voluntary contributions to that plan before contributing to other supplemental plans.

Also, the IRS imposes annual limits on contributions to 457 plans. The total of voluntary contributions to the Hybrid 457 combined with contributions to any other 457 plans offered by an employer cannot exceed the annual IRS limits. In the event a hybrid plan member’s contributions exceed the IRS limit, employers would need to back the funds out of a supplemental plan.