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Richmond, VA 23219
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Administrative Offices
1200 East Main Street
Richmond, VA 23219

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 > Getting Ready to Retire
 > Deferring Retirement

Deferring Retirement

If you leave covered employment and are eligible for retirement, you can defer receiving your retirement benefit until a later date. Submit a Name and Address Declaration for Deferred Members (VRS-3A) before you leave your position.

If you are covered under the VRS Group Life Insurance Program, you will be eligible for retiree life insurance coverage, provided you were covered under the group life insurance program before leaving employment. If you have not met the retirement eligibility requirements for your plan, or if you take a refund of your member contributions and interest, your life insurance coverage will end within 31 days of the end of the month in which the last premium is paid.

When you apply for retirement, your benefit will be calculated based on your service credit and average final compensation at the time you left your position. Submit the VRS-5 and other required forms and documents to VRS within 60 days, but not more than four months (120 days), before your retirement date.

Mandatory Retirement Distribution

If you defer retirement and do not apply for retirement by April 1 following the calendar year in which you turn age 70½, VRS will pay you a retirement benefit (Basic Benefit option), as required by law. Learn more about benefit payout options. VRS is not required to pay benefits retroactively. If your address changes, notify VRS as soon as possible.

If you are not vested, you will receive a refund of your member contribution account balance, excluding any member contributions made by your employer to your account after July 1, 2010 and the interest on these contributions.

Learn more about refunds and deferring retirement.

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