Investor Presentaiton
16
Contribution Rates
VRS Employer Contribution Rates
RS
Virginia
Retirement
System
FY 2023/2024
Plan
Board Certified
FY 2025/2026
Appropriation Act
DB + DC
Estimated DC
DB Only
DB Only
State
14.46%
12.52%
12.52%
1.35%
Teachers
16.62%
14.21%
14.21%
1.02%
SPORS
29.98%
31.32%
31.32%
N/A
VALORS
24.60%
22.81%
24.60%
N/A
JRS
30.67%
30.66%
30.67%
2.24%
The Governor's budget provides higher rates for VALORS and JRS than VRS Board-certified rates.
The FY 2025-2026 board-certified employer contribution rates are only the defined benefit contribution
rate. On July 1, 2024, VRS will separate the defined benefit and defined contribution rates for reporting
purposes.
Funding for the employer contributions to the defined contribution plan on behalf of hybrid plan members
will be between 1.0% -3.5% of a hybrid plan member's payroll depending on participant behavior and the
employer match of employees' voluntary contributions.View entire presentation