Deputy Sheriffs, Medics, & Fire Marshals
Information for New and Potential Employees
Retirement Benefit Plans Summary for Deputy Sheriffs, Medics, and Fire Marshals (includes 457 Deferred Compensation Plan
Important information regarding payroll deducted contributions for new employees or employees new covered by the Virginia Retirement System.
Change to the Investment Funds for the 457 Deferred Compensation Plan (457 Plan): Participants in the City 457 Plan should watch their home mail box for a letter from ICMA-RC. This letter, due to be mailed after Ocotober 15, will provide information on changes to the investment funds that will take place November 15 - 18, 2013. You are not required to take any action to complete this transition. Read for more information.
VRS Modernization Delays Posting of Employee Data on Website: Over the past year, the Virginia Retirement System (VRS) has been updating the data systems that support their member website. This process, called VRS Modernization, affects information that employees can view, including salary, member contributions, and benefit estimates. Employees who visit the website are now able to see salary and contribution data as of November 30, 2012. December data is expected to be accessible on the website soon.
The VRS implementation has progressed slower than anticipated, so employees who are nearing retirement and using the Benefit Estimator on the VRS website may need to take an extra step until this transition is complete. The VRS retirement benefit formula includes average final compensation (AFC). AFC is the average of the consecutive 36 months of highest compensation while covered under VRS for Plan 1 members and the average of the consecutive 60 months of highest compensation for Plan 2 members. Employees using the Benefit Estimator may want to estimate their AFC and enter it after clicking on “Use the average final compensation I enter” under the section “Select one of the following AFC options”.
Thank you for your patience with this VRS transition process. VRS expects the changes to speed up the VRS retirement application process and provide employees with more information to help them with plannning their retirements.
Announcement: The next meeting of the Supplemental Retirement Plan Board will take place on Wednesday, March 6, in Sister Cities 1101. The meeting begins at 8:30 a.m. The Board manages the investments of the pension plans. The Board will next meet on Thursday, March 14, in a joint meeting with the Firefighters and Police Officers Pension Plan Board to hear from investment managers. This meeting will start at 8:30 a.m. in Sister Cities 1101. Board meetings are open to the public.
Announcement: Now is the time to take a minute to review your participation in the City’s 457 Deferred Compensation Plan! Read on for more information.
Announcement: The Virginia Retirement System (VRS) published the June 30, 2012, Member Benefit Profiles (annual statements) for VRS Plan 1 members. They can be viewed on the VRS website after logging into myVRS. (Please note that the myVRS system will have a black out period from October 25 to November 5 where this information will not be available.) VRS Plan 2 members can contact VRS to obtain similar information. Also, Plan 1 non-vested members who want to purchase service to be vested by January 1, 2013, are running out of time to apply and pay for this. Both Plan 1 and Plan 2 members will still be able to purchase eligible service after January 1, 2012. Read on for more information and for a link to VRS Member News.
Announcement: On March 9, 2011, Mayor William D. Euille appointed members to the City's Ad Hoc Retirement Benefit Advisory Group. This group will: 1) look at the need for any future changes to defined benefit pension plans created under the authority of City Council; 2) examine the current financial status of the City's pension funds; and 3) advise the City Manager, the City Council Pension and Compensation Subcommittee, and City Council on any options that should be considered. Visit the Group's web page for meeting information.
Announcement: The Pension Administration Division moved to City Hall Room 1400. The fax number changed to 703.746.3943, but the telephone numbers for the Pension Division staff did not change. The City mailbox for the Pension Division is 42.
Announcement: The Pension Administration Division has issued the new Planning for Retirement handbook to help employees plan for retirement, pick a retirement date, apply for retirement, and receive their first retirement check on time. Note that this handbook does not yet reflect the changes to the VRS plan or the potential amendment to the City-maintained Supplemental Retirement Plan mentioned above.
Seminars, Workshops, and Webinars
A Retirement Workshop for VRS-covered employees will be held on November 21 from 8:15 a.m. to 1:15 p.m. in the Lee Center Auditorium. More information
Retirement and Benefits Guides
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Virginia Retirement System (VRS) Employer Code 55200
The City provides retirement and disability retirement benefits under VRS for regular, full-time employees. The VRS website, forms and publications may refer to other benefits that VRS provides to participating employers. However, the City does not participate in any benefits other than the ones described here.
Important VRS Information
The Virginia Retirement System (VRS) published the June 30, 2012, Member Benefit Profiles (annual statements) for VRS Plan 1 members. They can be viewed on the VRS website after logging into myVRS. (Please note that the myVRS system will have a black out period from October 25 to November 5 where this information will not be available.) VRS Plan 2 members can contact VRS to obtain similar information. Also, Plan 1 non-vested members who want to purchase service to be vested by January 1, 2013, are running out of time to apply and pay for this. Both Plan 1 and Plan 2 members will still be able to purchase eligible service after January 1, 2012. Read on for more information and for a link to VRS Member News.
Forms and Publications
- Applying for Service Retirement has instructions and the following forms that an employee should complete to apply for a VRS retirement:
- tax withholding form
- direct deposit form
NOTE: Employees must submit these forms to the Pension Administration Division as well as VRS.
- Applying for Disability Retirement has instructions and the following forms that an employee should complete to apply for disability retirement from VRS:
- explanation of disability
- physician's report
- employer information
- tax withholding
- direct deposit forms
NOTE: Employees applying for a disability retirement should contact the Pension Administration Division as soon as possible.
- Designation of Beneficiary
- Complete Part A on page one, but not Part B. In Part C, you may list individual beneficiaries or check box 8, but do not do both. If you choose box 8 you are requesting death benefits be paid according to state law. The instructions provide information how benefits are paid according to the law of Virginia. Mail your completed form to the Pension Administration Division in Room 1400, City Hall, mailbox 42.
- Contact Human Resources if you wish to designate, or change the designation of, the beneficiary of your City life insurance benefit.
- VRS Handbook
VRS Web Site
- VRS website: View information on the Member tab. You are able to view your personal information and create retirement estimates when you log onto myVRS.
- myVRS User Guide: a short easy-to-read guide that describes how to register and use the VRS website
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Supplemental Retirement Plan Contract Number 16741
Prudential administers the Supplemental Retirement Plan. Employees may visit the Prudential website to calculate retirement benefits and to view information on retirement planning.
For help with registering and using the Prudential web site, contact :
Monday - Friday, 8 a.m. - 9 p.m.
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Supplemental Retirement Plan Board
The Supplemental Retirement Plan has a Pension Board made up of representatives of Deputy Sheriffs, Medics, Fire Marshals, General Schedule employees as well as City management. The Board overseees the investments of the pension plan. Meetings are open to the public. View the 2013 Calendar of Pension Board Meetings.
Retirement Income Plan Contract 719118
- Information provided at an earlier date regarding these changes:
- Letter from ICMA-RC regarding tax treatment of money rolled over from the Retirement Income Plan to the 457 Plan
- Attachment to ICMA-RC letter listing exceptions to ten percent additional tax on rollover money
- Internal Revenue Service Tax Topic 558 regarding tax on early distributions from retirement plans
- Fees 457 Plan funds charged January 31, 2011
- Fees Retirement Income Plan funds charged December 31, 2011
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ICMA-RC Payroll Deduction Roth IRA Account Number 705691
The City is now providing employees an additional way to save for retirement. Employees who enroll in a Payroll Deduction Roth IRA account with ICMA-RC will be able to make contributions to that Roth IRA account using payroll deductions. For more details click on the following.
Deferred Compensation Plan Plan Number 300832
The City sponsors the 457 Deferred Compensation Plan (457 Plan) with ICMA Retirement Corporation (ICMA-RC) to help employees save for retirement. A 457 plan is a savings plan available to state and local government employees that allows an employee to save through payroll-deducted contributions on a pre-tax basis. This means the contributions are deducted from the paycheck before federal and state taxes are withheld and the amount of taxable income is reduced by the amount of the contribution. Earnings also accumulate on a tax-deferred basis. Taxes are paid on contributions and interest when money is withdrawn.
For those just starting out, payroll-deducted contributions can be as little as $10 per pay period and up to the annual deferral limit for the year. The Internal Revenue Service determines the maximum deferral limit each year.
Log onto the ICMA-RC website, www.icmarc.org, to view your account information, information on the funds, and to learn about investing. You will need to use the City Plan Number, 300832, the first time you log onto the website.
To request an Enrollment Kit, email: or call 703.746.3879.
Changing Your Contribution
If you want to change your contribution amount to the new deferral limit, or make any other change to your contribution amount, you will need to complete a 457 Deferred Compensation Plan Amount of Deferral Change Form. Complete the form with your new contribution amount and send it to:
Pension Administration Division
City Hall, Room 1400
Employees have two opportunities to catch-up on contributions that they did not make in the past.
- Age-50 Catch-Up: Any employee who turns 50 or older during the year is eligible.
- Pre-Retirement Catch-up: Available to employees who are eligible to retire within the next three years with an unreduced retirement benefit. The amount that you may actually contribute under this provision is determined by subtracting the actual amount you have already contributed from the maximum allowed. This provision is complicated for employees who wish to defer some or all of their leave payout at retirement.
For more information on the Pre-Retirement Catch-Up and deferring leave payout, contact:
Pension Administration Division
301 King St., Room 1400
The booklet 457 Deferred Compensation Plan Catch-Up Provision Packet provides more information on the Age-50 Catch-up and the Pre-Retirement Catch-up provisions.
ICMA-RC Representative and Investor Relations
The City's ICMA-RC representative, Gloria Moody, is available to meet employees to discuss the 457 Plan. She makes appointments to meet employees on the first Wednesday of every month in City Hall Room 1600. She will also make appointments to meet employees at other locations if arranged in advance. To arrange a meeting or talk about the plan, call:
Monday-Friday, 8:30 a.m. to 9 p.m.
For answers to questions or assistance with using the website call:
Monday-Friday, 8:30 a.m. to 9 p.m.
Forms and Publications
Now is the time to take a minute to review your participation in the City’s 457 Deferred Compensation Plan!
Did you know the IRS recently increased the annual deferral limit for 2013 for both the City’s 457 Deferred Compensation Plan and ROTH IRA? Click here to see the new table of annual limits. Click here to download a Change of Amount Form. Note, you do not need to complete this form if you would like your deferral amount to remain at its current level.
Did you know that the City will be offering a new fund effective December 21, 2012? We will be offering the Vantagepoint Milestone 2050 Fund. Click here to see additional details about the City’s target date funds.Click here to see a comprehensive list of investment options offered to the City’s 457 plan participants.
Are you still trying to decide if participating in the City’s deferred compensation plan will work for you? Click here to see a video about the advantages of participating in the plan.
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Retired Employee Information
- Why am I receiving a W-2 if I am a City Retiree? This information applies to retirees who have City life insurance benefits.
- Virginia Retirement System (VRS) Retiree Web Page
- Letter from VRS to Retirees Requesting Repayment for 2009 - 2011 COLA Overpayments
VRS mailed letters to retirees and beneficiaries in July 2012 to notify them about overpayment of Cost of Living Adjustments (COLAs) for 2009 - 2011. The VRS letter explained the reason for the overpayment and how much each retiree or beneficiary must repay VRS. Retirees and beneficiaries who have questions on the letter should call VRS at 888.827.3847 for more information.
- Contact Information for the City pension retirement and 457 Deferred Compensation plans.
- Contact the Virginia Retirement System (VRS) at 1.888.827.3847 Monday - Friday from 8:30 a.m. to 5 p.m. if you have questions on your monthly VRS benefit, 1099s (year end tax information), to change your address or tax withholdings, or to report the death of a retiree or beneficiary receiving a monthly pension from the Virginia Retirement System (VRS).
- Contact Prudential Retirement at 1.877.778.2100 from 8 a.m. to 9 p.m. if you have questions on your monthly Supplemental Retirement Plan benefit paid by Prudential, 1099s (year end tax information), to change your address or tax withholdings, or to report the death of a retiree or a beneficiary receiving a monthly pension from the Supplemental Retirement Plan (often called the City Plan). Prudential is the administrator for employees who retired on or after July 1997.
- Contact Principal at 1.800.247.7011 from 8 a.m. to 6 p.m. if you have questions on your monthly Supplemental Retirement Plan benefit paid by Principal, 1099s (year end tax information), to change your address or tax withholdings, or to report the death of a retiree or beneficiary receiving a monthly pension from Principal. Principal is the administrator of the Supplemental Retirement Plan for employees who retired prior to July 1, 1997.
- Contact Prudential Retirement at 1.877.778.2100 from 8 a.m. to 9 p.m. if you have any questions on the Retirement Income Plan for Deputy Sheriffs, Emergency Rescue Technicians/Medics, and Fire Marshals.
- Contact ICMA-RC at 1.800.669.7400 from 8:30 a.m. to 9 p.m. to inquire about the 457 Deferred Compensation Plan. Employees had the option of participating in this plan by making payroll-deducted contributions.
- Contact the City Pension Administration Division at 703.746.3885 for further information on the retirement plans.
- Contact the Human Resources Benefits and Records Division at 703.746.3785 for inquiries on health and life insurance benefits. You may also find information on those benefits on their website.
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