|
 |
 |
|
|
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Mailing Address:
U.Va. Human Resources
914 Emmet Street
P.O. Box 400127
Charlottesville, VA
22904
Phone: (434) 924-4598
Email: hrdept@virginia.edu
|
 |
|
 |
|
| Benefits Summary for University Staff |
Effective January 1, 2008
Retirement
The Commonwealth of Virginia offers to all full-time salaried and effective July 1, 1999 part-time salaried employees working 20 hours or more per week participation in the Virginia Retirement System (VRS). VRS is a "defined benefit" plan with retirement benefits based on years of service, age at retirement, and average annual salary paid during the highest 36 consecutive months of credited service. The contribution needed to fund the system is actuarially determined and adjusted every two years. The total contribution is paid for participants by the University. VRS provides retirement benefits as early as age 50 with at least 10 years of service. There is an annual cost-of-living increase for retirees, beginning in the second calendar year after retirement. Full retirement benefits are available for employees with 30 years of service and at least age 50. For more information visit http://www.varetire.org or call the toll free number (888) 827-3847.
To prepare for retirement, please review the Classified Staff Pre-Retirement Guide.
For information regarding retiree health insurance, see the Retiree Health Benefits Program.
|
|