Membership in the Virginia Retirement System (VRS) is automatic. The VRS retirement plan is a qualified 401(a) defined benefit plan which pays eligible members a lifetime benefit amount based on years of service, age, and compensation. VRS members may also participate in the Virginia Deferred Compensation Plan.

State and local governments sponsored more than 4,000 pension plans in 2022. Over 34 million members participate in these plans, including active public employees, former public employees who have earned benefits that they are not yet collecting, and current retirees.

Fairfax County Government offers employees a robust package of benefits. Depending on employment status, this may include a choice of medical plans including prescription and vision coverage, optional dental coverage, life and long term disability insurance, pre-tax savings plans, and more.

Deferred Compensation Plan Plan design features include a wide range of investment options with differing levels of risk and return, financial planning services, and self-directed brokerage arrangements. For tax year 2023, the maximum annual contribution limit is 80% of your gross wages or $22,500, whichever is less.

But, after many years of contributing to the program coupled with investment gains, these plans can become a substantial portion of your net worth. And because these plans are an unsecured liability of your employer they come with more risk than other forms of tax-deferred savings, like your 401(k).

Under normal retirement eligibility requirements, a Fairfax County teacher qualifies for full VRS pension benefits at age 67 with five years of service, or at any age—as long as the sum of her age and years of service is 90 or more (whichever comes first).

The Fairfax County Uniformed Retirement System was established on July 1, 1974, as a public employee retirement system providing defined benefit pension plan coverage for select public safety employees.

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Click below to open the menu of forms available to new, active, and retired employees. I authorize the County of Fairfax, Virginia to initiate credit entries to my account indicated above in the depository named below.FCPS offers health benefits to eligible retirees. Have the letter notarized. 3. Schedule of Changes in the Net Pension Liability and Related Ratios. 17. Schedule of Fairfax Water Contributions. 18. This manual is intended to assist persons who are involved in the administration of a decedent's estate in Virginia. A complete list of position duties and unique physical requirements can be found in the position job description.) General Financial Duties This is a comprehensive collection of forms for healthcare, retirement, disability, or other employee benefits. Learn how to update your information, including updating beneficiaries and reporting a death. .

Letter Of Authority For Pension In Fairfax

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