How Your Retirement Benefit Is Paid

When you retire, your defined benefit is paid first from your member contribution account. After these funds have been paid out, your benefit is funded from a separate contribution your employer makes to VRS and investment earnings.

You receive your retirement benefit in the form of a monthly benefit according to a payout option you choose when you apply for service retirement: Basic Benefit, Basic Benefit with Partial Lump-Sum Option Payment (PLOP), Survivor Option, Survivor Benefit With PLOP or Advance Pension Option. The payout option you elect at retirement is irrevocable. You cannot change it after you retire, except for the Survivor Option under some conditions.

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