Category: Commonwealth of Virginia 457 Plan

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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.

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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.

On the left side of this image, a young woman is seated at a desk resting her chin on her hand. She is smiling at the viewer. A computer is on the desk in front of her. TO the right of her is text which reads you can reduce errors.

How to Avoid Common Errors When Scheduling Payments for Defined Contribution Plans

February 2023

Submitting contributions in a timely manner ensures funds are invested for the member’s benefit.