Full time City employees hired or rehired after March 2010 are eligible for this retirement plan.
VRS Plan 1 is a defined benefit plan. Under this plan, the retirement benefit is based on age, service credit and average final compensation at retirement using a formula.
Eligibility for this plan includes general and public safety employees hired or rehired before July 1, 2010 and vested as of January 1, 2013.
VRS Plan 2 is a defined benefit plan. Under this plan, the retirement benefit is based on age, service credit and average final compensation at retirement using a formula.
Eligibility for this plan includes general employees hired or rehired before July 1, 2010 to December 31, 2013.
The VRS Hybrid Retirement Plan combines the features of a defined benefit plan and a defined contribution plan.
Eligibility for this plan includes general employees hired on or after July 1, 2014.