Hybrid Members: See Hybrid Retirement Plan Education.
Course details and registration information are available for a variety of educational mediums. You can even sort topics based on your current educational needs.
Are You on Track? – This presentation for current Plan 1 and Plan 2 members (hired before January 1, 2014) educates you on your VRS membership and the importance of planning now for your future. Topics include an overview of your VRS benefits and optional programs, purchase of prior service and member resources such as our online self-service tool, myVRS.
Are You Ready to Retire? – This presentation for current Plan 1 and Plan 2 members (hired before January 1, 2014) who are within five years of retirement guides you through important retirement decisions (such as when to retire and selecting a benefit payout option). Other topics include using myVRS and benefits after retirement.
Your Next Steps – This presentation for current Plan 1 and Plan 2 members (hired before January 1, 2014) who are fewer than 12 months away from retirement walks you through the retirement application process. Topics include a timeline of action items, an overview of the required forms, post-retirement considerations (such as taxes and COLA) and your VRS resources after retirement.
Banking – This module will explore how to choose a financial institution and the different types of bank accounts that are available. You'll also learn about electronic banking and compare different types of savings accounts.
Credit – In this module, you'll understand how to get credit and when to use it. We'll explore how interest rates work and why your credit score is so important.
Taxes – In this module, you'll learn how taxes are structured so you can maximize your income. You'll also learn about how income brackets and filing statuses impact your taxes. We'll explore two terms that cause many people problems - withholdings and taxable income. Finally, we'll walk through what forms to use when filing your taxes.
Investments – This module will explore the different types of investments so you can understand your choices. You'll learn what asset allocation means and why diversification is so important. Finally, we'll look closely at the benefit of managing your investments through the use of funds.
Financial Planning – This module will give you the tools to start your financial plan. We'll explore some popular financial goals, such as saving for college and retirement. And since no one knows what the future will hold, we'll talk about potential problems to plan for along the way.
Home Finance – In this module, we'll walk through what you can do to prepare for buying a home. We'll talk about what to expect from the buying process, as well as what happens after you've made an offer. We'll also explore how you may be able to lower your payments or tap into your home's equity once you own a home.
VRS Overview – This presentation for current Plan 1 and Plan 2 members (hired before January 1, 2014) provides details on your benefits as a member of the Virginia Retirement System. Topics covered will include the value of your benefit, vesting and retirement eligibility and ways to enhance your benefit for retirement.
Changes to Purchase of Prior Service Provisions Webinar – The General Assembly passed legislation this year that will change purchase of prior service (PPS) provisions. Most changes are not effective until January 1, 2017, but it's important that members and employers understand them since they may impact the options available to those who choose to purchase prior service credit. This webinar will cover changes in types of service, eligibility windows, cost, payment methods, and purchase payment agreement requirements and discuss the implications of purchasing service before vs. after January 1, 2017. Both VRS members and employers are strongly encouraged to register for this webinar.
The Refunded Service Comparison Estimator – This webinar explains the changes coming in 2017 to the purchase of refunded service and demonstrates the functions of the "Refunded Service Comparison Estimator." The estimator provides members and employers with the lump-sum costs associated with purchasing refunded service before 2017 and as of 2017. Members may use the comparison results to make a more informed decision as to when to purchase their refunded service.