Category: Commonwealth of Virginia 457 Plan

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IRS Increases 2025 Limits for Tax-Deferred Saving

December 2024

The annual limit applies to hybrid voluntary contributions, other 457 plans and after-tax and pretax Roth contributions.

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Your Turn to Ask

October 2024

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

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Retiring or Separating Employees May Keep Money With VRS

February 2024

As employees retire or leave their jobs, it's important for them to make well-informed decisions about their future savings.

a pair of hands holding two eggs that have retiement and nest eg written on them next to text which reading contribution limits

IRS Sets 2024 Contribution Limits

December 2023

The IRS increased limits for how much participants can contribute to tax-deferred savings plans for tax year 2024.

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Announcements

November 2023

Line of Duty Act Training; Defined Contribution Plans Corrections; Employer Training

On the left, a teacher points to her white board which flows into text on the right which reads News to Know.

Announcements

October 2023

FY 2023 Investment Return; GASB Resources; Age-Based Catch-Up Contributions; Employer Training

On the left, a teacher points to her white board which flows into text on the right which reads News to Know.

Announcements

September 2023

Sign up for VRS training; self-directed brokerage accounts moving to Schwab.

A flat single-color graphic of the United States Capitol building dome is on the right with large text saying Secure 2 point oh act on the left.

Update: Age-Based Catchup Contributions Cleared for 2024

September 2023

IRS provides more time for plan sponsors to implement change in how 50+ Catch-Up contributions are processed.

A flat single-color graphic of the United States Capitol building dome is on the right with large text saying Secure 2 point oh act on the left.

Secure 2.0: VRS To Pause 457 Age-Based Catchup Contributions

August 2023

VRS will temporarily pause the 50+ Catch-Up provision for all participants in the Commonwealth of Virginia 457 Plan in 2024.