Investor Presentaiton

35 Replacement Ratios Current Benefit Tiers compared Alternative Designs V Virginia Retirement RS System 100.0% VRS - Judges Retirement Plan Replacement Ratios Age at appointment 55 Current Plan Designs 76.5% 80.0% 74.3% 71.5% 60.0% 40.0% 20.0% Retirement age 73 Alternative Hybrid Plan Designs 103.0% 76.1% 76.0% 76.0% 0.0% Plan 1 Plan 2 Current Hybrid Max SB 396 100% Match Increase Benefit Multiplier to 1.1% Increase Service Weighting to 2.75% Defined Benefit Plan Hybrid DC 5% Return Hybrid DC 6% Return Hybrid DC 7% Return All hybrid plan replacement ratios shown above assume the member is making the full voluntary contribution. As of June 30, 2023, 83% of hybrid plan Judges make the maximum 4% voluntary contribution.

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