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Retire.org Clear Form 1. Social Security Number 2. Home Phone Number By completing this form, I revoke any or all Durable Power of Attorney forms on file at the Virginia Retirement System (VRS) and I intend to create a durable power of attorney by appointing the agent(s) designated below to make retirement system-related decisions on my behalf and as allowed by the Code of Virginia. This power is expressly limited to decisions relating to my benefits under the Virginia Retirement System. PA.
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Rollover FAQ
Eligibility Birth YearAge to Receive Full Social Security Benefit1937 or earlier65193865 + 2 months193965 + 4 months194065 + 6 months9 more rows
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.
Average Final Compensation (AFC) period.
Introduction. A Voluntary Retirement Scheme or VRS is a scheme that is offered by many companies to give employees the freedom to take voluntary retirement before they reach the age of retirement.
Average final compensation is one of the factors used to calculate a retirement benefit. For Plan 1 members, it is the average of the member's 36 consecutive months of highest creditable compensation as a covered employee.
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. Additional information can be found at .varetire.org.
Revoking Related content
Virginia Retirement System Plan 2 - UVA Human...
To name an individual as your agent for VRS matters, submit a VRS Durable Power of...
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