Retirement benefits are administered through the Virginia Retirement System (VRS). VRS has 3 retirement plans; Plan 1, Plan 2 & Hybrid. The plan that each employee falls under is determined by date of hire or date of previous enrollment in VRS.
Employees are automatically enrolled and contribute a mandatory 5% of their salary towards retirement. Hybrid plan participants can contribute up to an additional 4% into a defined contribution plan.
For detailed information regarding retirement, visit the VRS website.
Eligible employees may enroll in the James City County, Virginia 457(b) plan to defer a portion of their salary for retirement purposes. The County will match 50% of the employee contribution, up to a maximum of $15 per month for full-time employees, and $7.50 per month for part-time employees. The County match goes into a James City County, Virginia 401(a) plan. This plan is available for enrollment upon employment for participants in VRS Plan 1 and Plan 2.
Visit the Empower Retirement website.
VRS Hybrid Retirement Plan participants cannot make contributions to this benefit until they have maximized their voluntary contribution of 4% to the Hybrid 457 Plan.
Contact Empower Retirement at 800-701-8255 to learn more.