Retirement BenefitsCarrier: Virginia Retirement System (VRS)Customer Service Phone: 888-827-3847
VRS Hybrid Retirement PlanNew employees with no previous VRS service credit whose membership date is on or after January 1, 2014 will be enrolled in the VRS Hybrid Retirement Plan.
The Hybrid Retirement Plan combines the features of a defined benefit plan, which pays a monthly retirement benefit based on age, total service credit and average final compensation, and a defined contribution plan, which provides a retirement benefit based on contributions to the plan and the investment performance of those contributions.
VRS Hybrid Plan Handbook VA Local Disability Highlights Document ACSB Regulation 5.346, Sick Leave, Hybrid Plan Quick and Easy Access to your Account Defined Contribution Beneficiary Form Defined Benefit Contribution Form VA Local Disability Handbook
NOTE: Newly hired Hybrid Retirement Plan members can now "preset" their preferred voluntary contribution amounts before they start work and are officially reported through myVRS Navigator.
Go to www.varetire.org/gohybrid
to preset your voluntary contribution amounts for the defined contribution component of their plan. Once the process is complete, elections will become effective the first available pay period of the quarter following your VRS enrollment.
Augusta County Schools offers retirement benefits through the Virginia Retirement System (VRS) for all full-time employees working a minimum of 35 hours per week.The Virginia Retirement System fund provides future lifetime monthly benefits to eligible retirees. For more information about VRS, including retirement eligibility requirements, visit the Virginia Retirement System websiteMyVRS is a secure member online service which allows members to access their own VRS accounts. Through myVRS, members can view their most recent member benefit statements, change personal information, and create retirement estimates based on live data from the employee's file, among many other features. For more information about myVRS, visit the Virginia Retirement System website and click on the section "About myVRS" in the myVRS Access tab.Forms and Publications - All Retirement Plan Options
VRS Plan Comparison Chart Download VRS Handbook for Members (Plan 1) VRS Handbook for Members (Plan 2) Getting Ready to Retire Guide