VRS Hybrid Plan Participants: March 15th is the Deadline for Quarterly Defined Contribution Election Changes

February 17, 2016

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Faculty members and classified staff in the Virginia Retirement System Hybrid Retirement Plan may make changes to their voluntary defined contribution amount once per calendar quarter. Higher voluntary contributions result in increased matching by VCU! Participants can make changes online at www.varetirement.org/hybrid.html or by telephone at 1-855-291-2285. For online access instructions, see “Quick and Easy Access to Your Account.”

For a quick review of how your VRS Hybrid Plan works, see the brochure. More details are found in the member handbook and on the plan’s web site at www.varetirement.org/hybrid.html.

Contribution change elections made by March 15th take effect in April. The next quarterly deadline will be June 15, 2016 for changes effective July, 2016.

The VRS Hybrid Retirement Plan is only available to VRS-covered employees with membership dates of January 1, 2014 or later, or VRS participants who opted into the plan during the one-time opt-in period from April – June, 2014.

For more information about how voluntary contributions and matches benefit plan participants, see Don’t Miss Out on the Match and The Ripple Effect.

About benefits

The VCU benefits team administers employee benefits for faculty and staff of Virginia Commonwealth University. The team consists of: Daniel Jason (Benefits Manager), Daynon Smith (Senior Benefits Analyst), Sherri Goodine (Benefits Specialist), and Jennie Kim (Benefits Assistant).

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