It's never too soon to think about retirement. Select from the following links for resources to help you get started. Select from the key topics in the right column for retirement details.
Through the secure online myVRS system, you can view your benefit information and plan for retirement:
Note: Your retirement benefit amount is based on factors such as service credit , age, average final compensation and your selected benefit payout option. Create a new benefit estimate if your circumstances change.
- The myVRS Retirement Planner allows you to create a Quick Plan or Detailed Plan that will estimate your income needs when you reach this milestone. Base your plan on different retirement dates, add income from sources such as a spouse or part-time employment in retirement and build in estimated retirement expenses.
- You also can create different benefit scenarios using the myVRS Benefit Estimator.
- Members eligible to retire using the online system will see the Apply Now button.
- If you participate in the Commonwealth of Virginia 457 Deferred Compensation Plan, check your savings progress. You may be eligible for catch-up contributions.
- Whether you just started work or are ready to retire, you can take advantage of free educational opportunities. Select from a variety of online and on-site educational mediums according to what's most convenient for you.
- If your employer participates in the Commonwealth's 457 Plan, sign up for the Defined Contribution Plans Individual Appointment or Seminar. The meetings are held at sites around the state and cover topics such as long-term planning for financial security, managing your plan and distribution strategies.
- Brush up on your financial knowledge. myVRS Financial Wellness offers free articles, videos, educational games and mini-courses to help you with budgeting, saving, managing credit, making smart purchases and more.
Meet with a counselor at the VRS Retirement Counseling Center at 1111 East Main Street in downtown Richmond. Sessions are offered on a first-come first-served basis between 8:30 a.m. and 4 p.m., Monday through Friday. Limited scheduled appointments are available. Get directions to the counseling center and the parking deck.
Note: The first hour of parking is free if you park in the deck.