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VRS Logo Sunday, October 25, 2020

Counseling Center
1111 East Main Street
Richmond, VA 23219
8:30 a.m.–4:00 p.m.
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Administrative Offices
1200 East Main Street
Richmond, VA 23219

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Enhanced Retirement

If you are at least age 50 and vested at your layoff date, you may be eligible for enhanced retirement under the Transitional Benefits Program. You may elect one of the following:

If additional credit does not bring you to retirement eligibility, you are eligible only for the transitional severance benefit. You cannot defer your retirement or retire on disability with an enhanced retirement. If you are eligible for an unreduced retirement benefit and choose to receive an enhanced retirement, you are eligible for additional service credit only. No credits will be applied to your age.

Enhanced Retirement Credit Calculation

The enhanced retirement credit is calculated using your salary, years of consecutive service rounded up to a whole year and the employer’s portion of health insurance and life insurance premiums.

Cost of Living Adjustment (COLA)

You are eligible for a COLA effective July 1 following one full calendar year (January 1 to December 31) from the effective date of your disability retirement. Read more about the COLA.

Health Insurance Credit and Hazardous Duty Supplement

Life Insurance

Some basic group life insurance benefits continue into retirement if you retire under the program and are covered under the VRS Group Life Insurance Program. You also may be eligible to continue some or all of your optional life insurance coverage, as applicable. Read more about Insurance in Retirement.

Forfeiture of Benefits

If you retire with the enhanced retirement benefit and return to covered employment with any VRS-participating employer in any capacity, you will forfeit the enhanced retirement credit when you retire again.

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