Virginia Retirement System

Faculty Employees: Faculty Optional Retirement Plan for Higher Education (ORPHE) or Virginia Retirement System (VRS) Hybrid Retirement Plan)

Description: Eligible faculty have the option to elect to participate in ORPHE or an applicable VRS plan based on your current or prior service date. 

ORPHE provider offers a range of investment options, allowing you to create a portfolio with varied characteristics of risk and return. This session will present a general comparison of the features offered in each ORPHE provider's plan and offer information to learn more about your plan, benefits, and investments in ORPHE.

Newly hired faculty employees (with no prior state service) have the option to elect membership in VRS Hybrid Retirement Plan. The Hybrid Retirement Plan combines the features of a defined benefit plan and a defined contribution plan. The plan applies to most members hired on or after January 1, 2014, and employees who elected to opt into the plan in 2014. Knowing your VRS retirement plan is the starting point for understanding the member benefits available to you. Topics covered include the value of your benefit, vesting and retirement eligibility, along with ways to enhance your benefit for retirement. 

This session will also include general information on retirement plan options to prepare employees with prior state service for a personal and comprehensive 1:1 session with a VRS benefits consultant.

Presentation: Group_Session_VRS_Faculty.pdf

Contact Information: VRS Contact Center - 1-888-827-3847

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