VRS website: https://www.varetire.org/
RRS website: https://www.rva.gov/
I’m ready to choose to stay in RRS or transition to VRS. What do I do?
You will need to complete an election form based on what RRS plan you are currently in. See forms and instructions below.
| If you are currently a... | Please complete... |
|---|---|
| General employee in the RRS Defined Benefit - Basic Plan | Form 1 |
| General employee in the RRS Defined Benefit - Enhanced Plan | Form 2 |
| Sworn employee in the RRS Defined Benefit - Basic Plan | Form 3 |
| Sworn employee in the RRS Defined Benefit - Enhanced Plan | Form 4 |
| General or Sworn employee in the Defined Contribution Plan | Form 5 |
Please select the correct form based on your current Richmond Retirement System plan.
- Forms must be signed and witnessed with wet ink. Digital signatures will not be accepted.
- Please fill, print, and have a witness available when signing a form.
- Turn in the signed hard copy form in person to:
- Kia Johnson, Deputy Director for the Richmond Retirement System, at 730 E. Broad Street, Suite 900. There is a locked mailbox outside of the RRS to leave the form; or
- Paulette Giambalvo, Human Resources Division Chief for Benefits and Wellness, at 900 E. Broad Street, Room 902.
If you are electing to transition to VRS: Shortly after making your selection with the city, VRS will send to your home address a welcome letter and further information. If your address on file with the City of Richmond needs to be updated, please contact the Benefits and Wellness team at HRBenefits@rva.gov or 804-646-4700. Your start in VRS will be effective the first business day of the following month after turning in your form.
What to Expect After Turning in Your Form?
Please click here to learn more about next steps based on your election.
Non-Vested Defined Benefit Plan Members and the Plan-to-Plan Transfer
Non-vested defined benefit plan members have the one-time option to transfer their RRS account to VRS. Members who are non-vested defined benefit plan members choosing the option of plan-to-plan transfer must submit their election form by October 31, 2024.
VRS Hybrid Plan 457 Voluntary Contribution Membership
Members electing the voluntary 457 plan option with the VRS Hybrid plan, please be aware the contribution is effective at the beginning of each quarter. You can elect to save up to 4% right away. These voluntary elections can be made online at varetire.org/dcp-login or by calling VRS Participant Services at (877) 327-5261 and selecting Option 1. Members can make changes to their voluntary contributions each quarter (January, April, July, October). You can make changes until 4 p.m. ET on the 15th of the month before the next quarter. If the 15 is not a business day, the deadline will be 4 p.m. ET on the next business day after the 15th.
| Deadline to Request Changes (until 4 p.m.) | Contribution Effective Date |
|---|---|
| December 15 | January 1 |
| March 15 | April 1 |
| June 15 | July 1 |
| September 15 | October 1 |
See this page for more information: VRS Voluntary Contributions (varetirement.org).
Key Dates
| December 8, 2023 | Submission deadline for general employees who will go into the VRS Hybrid Plan and who want to transition on January 1. |
|---|---|
| December 30, 2023 | Beginning of the first pay period with effective retirement contribution changes to 5% minimum employee contribution. |
| January 1, 2024 | RRS is now closed to new employees, who will be automatically enrolled in VRS. Beginning of the one-year VRS join period. First effective date of VRS enrollment for existing employees who elected to transition. |
| October 31, 2024 | Submission deadline for non-vested RRS defined benefit plan employees who are electing a plan-to-plan transfer from RRS to VRS. |
| December 31, 2024 | End of the VRS join period and deadline to elect to transition to VRS. Employees who have not made a decision by this date will remain in RRS. |
I want to speak with someone from RRS before I make my decision.
You can contact RRS to learn more about your current city retirement account and what your RRS options are by emailing retirement@rva.gov.
I want to speak with someone from VRS before I make my decision.
You can speak with a VRS counselor by contacting the VRS service center at 1-888-827-3847 / Contact VRS | Virginia Retirement System (varetire.org) or attending a VRS informational session.
We are working with VRS on arranging individual sessions for the City of Richmond employees. We will provide information once available. Stay tuned for more information.
If you still have general questions about the transition, contact vrstransitionquestions@rva.gov.