You will likely go into the VRS plan you were in previously. This may not be the case if you previously took a refund of prior VRS service. Please verify your prior plan or options with VRS. 

You can call the VRS contact center to confirm your plan. The contact center phone number is: 1-888-827-3847 and the contact center website can be found here: Contact VRS | Virginia Retirement System (varetire.org). 

VRS has informed us that the current plan status shows as the ‘local’ indicator due to the city’s participation in VRS’ Group Life Insurance. This is not the indicator of your prior VRS plan. 

If you took a refund of your prior VRS service credit, you will start day 1 in VRS. You may be able to purchase service credit after you transition under VRS’ normal purchase rules. Please consult with VRS as to the purchase rules and what plan you will have. 

No. The credit you transferred to RRS is now part of RRS and will remain as part of your RRS service. Please consult with RRS and VRS. 

You will be automatically enrolled in VRS and begin earning service time in the plan you were in previously. If you want to check on the status of your VRS account, please contact the VRS Service Center at: 1-888-827-3847 or https://www.varetire.org/contact. To learn more about the VRS enrollment process when you start with the city, contact the HR Benefits team by emailing HRBenefits@rva.gov.

You can find out more about VRS’ purchase of prior service rules by visiting this page: https://www.varetire.org/benefits-and-programs/programs/pps/ or contacting VRS at: 1-888-827-3847 3847 or https://www.varetire.org/contact.

You will need to reach out to VRS to evaluate your option. Please note VRS may only be able to run your official numbers after you select VRS, though they may be able to provide you with information about the rate formula. Please find more information here: https://www.varetire.org/benefits-and-programs/programs/pps/.

December 31, 2024. You have a one-year period to decide if you want to stay in RRS or transition to VRS.

If no decision has been made by December 31, 2024, you will stay in RRS.

January 1, 2024. If you know what your decision is now or before January 1, you can complete your applicable form once available and submit it to RRS or HR.

Your effective date is immediate on or after January 1, and you will begin earning service credit as soon as you are enrolled in VRS.

We cannot advise you when to make your decision. It is your choice. Some employees may want to join earlier to start earning VRS service, while others may want time to consult counselors and weigh the options. Your timing should be based on your individual circumstance.

DROP is not going away for RRS. If you stay in RRS, you will be able to join DROP when you become eligible. 

Sworn employees who remain with RRS and enter the DROP program after January 1, 2024, will not be compelled to join VRS as there is no break-in-service between the employee’s last active day and the date that they enter the DROP program.  

If an employee who remained in RRS has a bona fide break-in-service from the city and is later rehired full-time by the city, § 51.1-135 of the Code of Virginia (https://law.lis.virginia.gov/vacode/title51.1/chapter1/section51.1-135/) requires that employee to become a VRS member upon re-hire. Likewise, any new hires on or after January 1, 2024, sworn or otherwise, will become members of VRS and will be eligible for VRS benefits as set forth in the Code.  

VRS does not have a DROP. However, they do have a Partial Lump-Sum Option Program (PLOP). To learn more about PLOP, visit this page: https://employers.varetire.org/benefits/benefit-payout-options/

No. City employees who are currently participating in the DROP program are not eligible to elect to join VRS during the join period. 

Yes. If you have a break in service and you are returning to the city after January 1, 2024, you will go into VRS. The plan you will go into depends on whether you have prior VRS service or not. Please verify prior VRS service with VRS. 

If you are working full-time for the city on January 1, 2024, you will choose whether or not you will remain with RRS or opt-in to VRS.  

If you remain with RRS:  

You will continue to receive your VRS retirement benefit even as you work full-time for the city. This remains true while you have continual employment with the city. Once there is a break in service, you will be treated as all other Richmond employees and must join VRS if you return to covered employment with the city.  

If you elect to join VRS:  

Your VRS retirement benefit will cease. You will once again earn active VRS service, your Group Life Insurance will return to the active coverage amount, and when you retire a second time your benefit will be re-calculated to include the additional service. Cost of living adjustments that accrued during your initial period of retirement are lost and are not included in the recalculated benefit. VRS retirees considering this option should speak with a VRS member counselor prior to their election to be counseled on the full impact of their decision. 

If you are a new hire in a full-time position with the city on or after January 1, 2024, you will need to un-retire from VRS and become an actively reported member once again. You will not have the ability to opt-out of VRS coverage. A VRS retiree may accept a part-time job with the city and not see any interruption to their VRS retirement benefit, however.  

Please see this VRS video that covers a VRS retiree’s options to work after retirement:  https://www.varetire.org/milestones/retirees/working-after-retirement/. 

If you rejoin the city in a full-time position on or after January 1, 2024, you will become an active VRS member (Code of Virginia § 51.1-135). (https://law.lis.virginia.gov/vacode/title51.1/chapter1/section51.1-135/) 

However, if you rejoin the city in a non-covered part-time position on or after January 1, 2024, VRS membership is not compelled (Code of Virginia § 51.1-132). (https://law.lis.virginia.gov/vacode/title51.1/chapter1/section51.1-132/) 

When you are re-hired full-time with the city, your RRS benefits will cease. Please contact RRS to verify based on your scenario. 

You will be automatically enrolled in VRS. Your RRS and VRS benefits will cease. You will be re-contributing and receiving VRS service credit where you left off. When you retire, your VRS benefit will be recalculated to include the additional service. Please contact RRS to verify based on your scenario. 

No. Your time with RRS cannot be transferred or purchased in VRS. You can confirm this with the VRS counselors when they are on-site or through an individual session.  

If you transition to VRS, you will have two options with respect to your RRS DB plan: you can elect to make a trustee-to-trustee transfer of your RRS DB plan account to VRS, or you can choose to leave your RRS DB plan as-is.  

If you choose the trustee-to-trustee transfer, keep in mind that the purchase if VRS service credit may not be one-to-one. You should check with RRS and VRS to evaluate your option. 

If you choose to leave your DB plan as-is, your benefits will remain frozen in RRS. If you reach five years of service with the city (even if you transition to VRS before five years), you will receive the funds as a pension from RRS when you retire. 

If you transition to VRS, your 401(a) DC plan will remain as-is with RRS. If you reach five years of service with the city (even if you transition to VRS before five years), you will receive the funds when you leave city service. For more information, contact RRS by emailing retirement@rva.gov.  
 

If you decide to transition to VRS and do not have prior VRS service, you begin earning VRS service time at day 1. If you are vested in RRS, your time will stay in RRS, and you will be eligible for benefits when you retire. If you are not vested, please see questions related to non-vested RRS members. 
 

Starting in 2024, all full-time, retirement-eligible employees will contribute a minimum/base of 5% to retirement, no matter what RRS plan you are in or whether you choose to transition to VRS. The city will make a wage adjustment to cover the increase in retirement contribution and mitigate the impact of FICA taxes.  

All VRS plans have a mandatory employee contribution of 5%. For VRS plan contribution rates, visit https://www.varetire.org/retirement-plans.  

RRS employee contribution rates will change to 5%. See below: 

2024 RRS DB Plan Contribution Changes 

2024 RRS DC Plan Contribution Changes  

The VRS transition means that employees from the city may keep their VRS plan and go to another VRS-covered employer, but it also means that employees from other VRS-covered employers can come work for the city. In some areas, we expect recruitment to increase.

Yes. To receive a monthly check for the rest of your life – i.e., a pension – you must participate in a Defined Benefit (DB) plan. All VRS plans are either DB plans or have a DB component. If you switch to VRS and work five years with any VRS-covered employer, you will receive a monthly payment from the VRS DB plan or DB plan component. Vesting for VRS DB plans is five years. 

Each RRS or VRS DB plan has different calculations for the amount that depends on your individual circumstance. The retirement systems will need to calculate the amounts. Please check with RRS and VRS, respectively.  

No. Your RRS DC plan will stay as-is in RRS until you leave city service. Contact RRS for more information. 

Alongside the transition, the city is taking steps to improve the funding of RRS up to a minimum 80% funded status, which is the minimum funding level of a healthy retirement system. The city is adopting and implementing financial policies to ensure RRS remains funded at 80% or higher with the long-term goal of reaching 100% funded status. 

The city offers a voluntary 457 program to which you can contribute. If you transition to VRS, your 457 plan with the city will stay where it is, and you will still be able to contribute to it.  

However, please be aware that total annual contributions to 457 plans have a maximum amount set by the IRS. 

If you go into the VRS Hybrid plan, the voluntary DC component is a 457 plan. The city’s 457 and the voluntary 457 portion of the VRS Hybrid plan will count toward the IRS maximum. Please contact RRS to learn more about the city’s 457 plan and VRS to learn about the voluntary 457 portion of the VRS Hybrid plan. 

No. These plans will remain separate. Please contact RRS for more information.

If you are a full-time permanent employee, the city currently provides you with Group Life Insurance (GLI) through VRS. Click here to learn more about GLI: https://www.varetire.org/benefits-and-programs/benefits/life-insurance/basic-group-life-insurance.

This means you have a VRS account even if you are not part of a VRS retirement plan.

VRS locks member accounts every 90 days for security purposes if they are inactive. As of December 28, 2023, VRS has done a mass reset the City of Richmond accounts, permitting everyone an opportunity to log in and register.

Please register whether you are electing to move to VRS or staying with the Richmond Retirement System. This account will give you access to your group life insurance benefit.

You have 90 days from December 28 to register your myVRS account before it is locked again. VRS will automatically lock accounts after 90 days if they are inactive. If you get locked out, you will need to contact VRS to get it reopened.

To register your account, follow the steps below:

1. Visit: https://myvrs.varetire.org/login/
2. Click “Register Now” and follow the prompts to register as a new user
3. Login again to your account once registration is complete

If you have trouble registering your account, please contact the VRS service center at: 1-888-827-3847 or https://www.varetire.org/contact.

You may also contact the Human Resources Benefits and Wellness Division at: 804-646-7400 or HRBenefits@rva.gov if you have questions related to your VRS account.

Please contact VRSTransitionQuestions@rva.gov if you have questions related to the retirement system transition.