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0 Toll Free 1-888-VARETIR (827-3847) www.varetire.org Employer Code The employer completes this form to certify the participant s eligibility for a health insurance credit. VRS determines the amount of the credit to be paid. If this form is not completed and sent to VRS, the health insurance credit cannot be paid to the eligible Optional Retirement Plan/Alternative Retirement Plan (ORP/ARP) participant. This form is for initial enrollment into the health insurance credit program. In the futu.

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About the Virginia Retirement System VRS ranks as the 14th largest public or private pension fund in the U.S. and the 42nd largest in the world, serving more than 778,000 active and inactive members, retirees and beneficiaries.

You contribute up to 5% of your compensation each month to your member contribution account through a pre-tax salary reduction. Your contributions are tax- deferred until you withdraw them as part of your retirement benefit or as a refund. Your employer makes a separate contribution to VRS for all covered employees.

Employees contribute 5% of salary out of each paycheck to the pension fund. The average retirement benefit is 19,647 per year, or $1,637 per month.

You become eligible for an unreduced retirement benefit at age 65 with at least five years (60 months) of service credit or at age 50 with at least 30 years of service credit.

About the Virginia Retirement System The Virginia Retirement System, an independent state agency based in Richmond, delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service.

Membership in the Virginia Retirement System (VRS) is automatic. The VRS retirement plan is a qualified 401(a) defined benefit plan which pays eligible members a lifetime benefit amount based on years of service, age, and compensation. VRS members may also participate in the Virginia Deferred Compensation Plan.

Eligibility Birth YearAge to Receive Full Social Security Benefit195766 + 6 months195866 + 8 months195966 + 10 months1960 and later679 more rows • 24 Feb 2023

UNREDUCED RETIREMENT Normal retirement age under VRS Plan 1 is age 65. You become eligible for an unreduced benefit at age 65 with at least five years of service credit or at age 50 with at least 30 years of service credit.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232