Your Turn to Ask
Does VRS offer any supplemental savings opportunities in addition to my VRS retirement plan?
Yes. All state employees, including wage employees, are eligible to enroll in the Commonwealth of Virginia 457 Deferred Compensation Plan, which lets you take advantage of tax-deferred savings through convenient payroll deductions. State employees are also eligible to receive a cash match equal to 50% of your contribution to the Commonwealth of Virginia 457 Plan (up to $20 per pay period).
If you are a school division or political subdivision employee, check to see if your employer offers the Commonwealth of Virginia 457 Plan and Virginia Cash Match Plan, or another supplemental savings plan.
Hybrid Retirement Plan members must reach the maximum voluntary contribution amount to the Hybrid 457 Plan to be eligible for the Virginia cash match.
Learn more: VRS Defined Contribution Plans.
