> Virginia Law Officers' Retirement System (VaLORS)

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Virginia Law Officers’ Retirement System (VaLORS)

Hazardous duty supplement (Effective July 1, 2007 - June 30, 2009): $11,508 per year; $959 per month

Membership in the Virginia Law Officers’ Retirement System (VaLORS) is a condition of employment for eligible employees. The following full-time, salaried employees are eligible for membership:

Capitol police and campus police officers
Conservation Police Officers
ABC special agents
Marine Resource officers
Correctional officers
Juvenile correctional officers
Parole officers
Commercial vehicle enforcement officers employed by the Department of State Police.

Eligible employees become members as soon as they begin work, as a condition of employment.

Eligibility

VaLORS members are eligible for full retirement benefits at age 60 with a minimum of five years of service, or at age 50 with at least 25 years of service.

Benefit Calculation

The amount of the retirement benefit for VaLORS members hired on or after July 1, 2001 is 2.0 percent of average final compensation multiplied by years of service credit, with a reduction factor applied for early retirement.

Members hired before July 1, 2001 had a choice of electing the 2.0 percent multiplier or keeping the lower 1.7 percent multiplier, with eligibility for a special hazardous duty supplement. VaLORS members with at least 20 years of hazardous duty service who elected to remain with the 1.7 percent multiplier may be eligible to receive the special supplement until age 65. If the membership date is prior to July 1, 1974 the member is not required to have 20 years of hazardous duty service in order to be eligible for the supplement.

Except for the difference in eligibility requirements, benefit calculation and the 20-year hazardous duty supplement, benefit plan provisions are the same as for members of VRS.