Benefits

Other VRS-Administered Retirement Plans

Commonwealth of Virginia 457 Deferred Compensation Plan

Saving for retirement is easy through the Commonwealth of Virginia 457 Deferred Compensation Plan:

You contribute to your account through payroll deduction.
You defer paying taxes on your contributions until you retire and begin receiving money from your account.
You can change the amount you want to save, subject to tax code and plan limits.
You may be eligible for a cash match if your employer participates in a cash match plan such as the Virginia Cash Match Plan.

The 457 Plan is a supplement to your VRS retirement benefit. The record-keeper for the plan is Great-West Retirement Services.

Managing Your Account

You can change your 457 Plan deferrals and investments online through the plan’s Web site at www.vadcp.com or by calling KeyTalk toll free at 1-866-226-6682. Most state employees also can enroll online or through KeyTalk.

Forms are available on the Web site, through Key Talk or through your human resource office.