Virginia Retirement System (VRS)
The VRS is a defined benefit retirement plan. VRS provides monthly retirement benefits to vested employees who have retired. These benefits are in addition to monthly benefit payments from Social Security.
VRS also provides short- and long-term disability income protection. All Employees are required to contribute 5 percent of their salary toward their retirement. The contribution is taken as a pre-tax payroll deduction.
Lifetime pension benefits are based on a formula (age, service dates and salary).