Do you participate in the Virginia Retirement System (VRS) Hybrid Plan? If so, this important news for you.
If you participate in the VRS Hybrid Plan and you were hired on or before September 1, 2016, you are subject to an auto-escalation of voluntary contributions that will go into effective January 1, 2017. Any Hybrid Plan member who has not already increased their voluntary contributions to the maximum amount of 4 percent will have their contributions escalated by 0.5 percent beginning on the January 15, 2017 pay period.
Don’t want to increase your contribution? You can opt out of this escalation or increase your contribution by a different increment by close of business on December 15, 2016, by calling 877-327-5261 or making the change online.
More information about the auto-escalation and voluntary contributions is available on the VRS website.