The Virginia Retirement System (VRS) offers three retirement plans: Plan 1, Plan 2 and the Hybrid Retirement Plan. Your membership date and vesting status determine the plan in which you will be enrolled. In addition to the retirement benefit, VRS offers life insurance to VRS participants at no cost. For a high level comparison of the differences amongst the 3 plans, visit the VRS website and view the Plan Comparison Guide.
Tax-Deferred Savings Plans offer a way for eligible employees to save additional money for retirement. Employees may elect to invest pre-tax or post-tax dollars into a qualified plan through payroll deduction. WPS employees have two tax-deferred savings plan options: