Additionally, you are covered under Plan 2 if you have a membership date prior to July 1, 2010, but you were not vested before January 1, 2013. State law to require businesses with 25plus employees to offer a workplace retirement program, RetirePath Virginia.You may retire with a reduced benefit as early as age 55 with at least five years of service or age 50 with at least 10 years of service. Social Security retirement benefits are not taxed in Virginia. If you participate in the Commonwealth of Virginia 457 Deferred Compensation and Cash Match Plans, complete the. It's the law: Virginia businesses with more than 25 employees must offer a retirement saving opportunity. In the Virginia Retirement System, pensions earned in Virginia are subject to state income taxes. Richmond, VA 23218-2500. After separating from your job, you must have a one-calendar-month break in service during a period you would normally work. Classified staff participate in the Virginia Retirement System (VRS) as a condition of employment.