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RETIREMENT BENEFITS

Virginia Retirement System (VRS)


Newly hired, full-time, classified employees, who have no previous VRS service credit, are automatically enrolled in the Virginia Retirement System Hybrid Recruitment Plan. The Hybrid Retirement Plan combines the features of a defined benefit plan, which pays a monthly retirement benefit based on age, total years of service, an average final compensation, and a defined contribution plan, which provides a retirement benefit based on contributions to the plan and the investment performance of those contributions. If an employee separates from the university, he/she may choose to withdraw retirement contributions.

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