You may be eligible to retire under WTA if you meet the following criteria:
- A state employee covered under VRS, VaLORS or SPORS
- Age 50* or older if you are in Plan 1, or age 60 or older if you are in Plan 2 or the Hybrid Retirement Plan
You can choose from the following options:
- WTA cash severance benefit and retirement in lieu of the WTA additional retirement credit.
- WTA additional retirement credit in lieu of the cash severance benefit.
Plan 1 members between 50 and 55 years of age who choose the WTA additional retirement credit must be at least age 55 with five or more years of creditable service, or at least age 50 with 10 or more years of creditable service, once the credit is added.
If you participate in an optional retirement plan, or separate from service but defer your retirement, or retire on disability, you are not eligible for the WTA additional retirement credit. However, you are eligible for the cash severance benefit.
WTA Cash Severance Benefit and Retirement in Lieu of the WTA Additional Retirement Credit
If you qualify for unreduced or reduced retirement at the time of your layoff, you may elect to take the WTA cash severance benefit and retire from covered employment in lieu of the WTA additional retirement credit. You will be covered for health and life insurance for up to 12 months from your layoff date.
You may retire at any time after your layoff date. To retain your eligibility for state retiree health insurance coverage, you must apply for retirement within 12 months of your layoff date.
When you retire, your life insurance coverage will change to retiree coverage.
WTA Retirement Credit in Lieu of the Cash Severance Benefit
If you choose WTA retirement credit, the total value of your WTA severance payments, health insurance and group life insurance will be converted to credit toward your eligibility for an unreduced or reduced retirement benefit. If the addition of the WTA retirement credit does not qualify you for retirement, you will be eligible for the WTA cash severance benefit only and no retirement.
Retirement Eligibility Requirements
Note: If you were not working in a covered position on June 30 and July 1, 2002, you must be credited with at least five years of service credit while covered under SPORS, VaLORS or an eligible local hazardous duty position to retire under these enhanced provisions.
Cost-of-Living Adjustment (COLA)
You are eligible for a COLA effective July 1 following one full calendar year (January 1–December 31) from the effective date of your service retirement.
Applying for WTA Retirement
Your employer will complete the Employer Certification of Involuntary Separation Under Workforce Transition Act (VRS–11) and submit it to VRS with your Application for Service Retirement (VRS–5) and other forms and documents required to apply for retirement.
Working after Retirement
If you choose to work after retirement.
- You may work for an employer that does not participate in VRS and continue to receive your retirement benefits.
- If you return to VRS–covered employment or a position covered under an optional retirement plan, your retirement benefits will end and you will be considered an active member.
- You will not be eligible to retire under WTA a second time, unless you are again involuntarily separated from state employment.