For all full-time classified salaried employees:
The Virginia Retirement System (VRS) provides monthly retirement benefits for all vested (employed five years for vesting) full-time salaried employees. These benefits are paid by the State. The VRS is a defined benefit plan.
For all full-time salaried teaching and administrative faculty:
A new faculty employee may select the pension plan administered by the VRS, or one of six optional retirement plans.