If You Do Not Take a Refund
If you leave employment and do not take a refund of your member contributions and interest, you will become a deferred member . If you are vested , you may be eligible for a future retirement benefit if you meet the age and service requirements for your retirement plan. Before leaving your job, submit the Name and Address Declaration for Deferred Members (VRS-3A) so that VRS has your address on file. Use the VRS-3A to update your address if you move.
If you return to covered employment , member contributions and the service credit you earn upon reemployment will be added to your member record. As a deferred member, you will remain eligible to request a refund of your member contributions and interest.
As a deferred member, you will have access to myVRS where you can view information from your member record and plan for retirement online. If you are in Plan 1 or Plan 2 and vested when you leave employment, you also will receive a Member Benefit Profile (MBP), your annual online benefits statement. You can view and print your MBP from myVRS. Log in or create a secure online myVRS account.
If you have reached retirement eligibility when you leave covered employment, you can defer receiving a retirement benefit until a later date. If you decide to defer retirement, submit an Application for Service Retirement (VRS-5) to VRS at least 60 days, but not more than four months (120 days), before the date you wish to retire.
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 72, VRS will pay you a retirement benefit (Basic Benefit option), as required by law. VRS is not required to pay benefits retroactively. If your address changes, notify VRS as soon as possible by submitting a new Name and Address Declaration for Deferred Members (VRS-3A). 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.