Service Retirement Benefits Page 1 of 3
Defined Benefit Formula
| VRS (State/Teachers) | Multiplier x Average Final Compensation x Years of Service |
| VRS (Political Subdivision) | Same |
| SPORS/VaLORS/LEOS | Same |
| JRS | Same |
Defined Benefit Multiplier
| VRS (State/Teachers) | 1.7% of Average Final Compensation |
| VRS (Political Subdivision) | 1.7% of Average Final Compensation |
| SPORS/VaLORS/LEOS | Effective 7/1/2001, VaLORS has a 2% multiplier for all new hires; those employed prior to 7/1/2001 selected either the 2% or the 1.7% multiplier plus the supplement |
| JRS | 1.7% of Average Final Compensation |
Calculation of Average Final Compensation
| VRS (State/Teachers) | Average of the highest 36 months of creditable compensation |
| VRS (Political Subdivision) | Same |
| SPORS/VaLORS/LEOS | Same |
| JRS | Same |
Service Credit Multiplier
| VRS (State/Teachers) | None |
| VRS (Political Subdivision) | None |
| SPORS/VaLORS/LEOS | None |
| JRS | 3.5 for judges elected or appointed to an original term commencing prior to January 1, 1995; 2.5 for judges elected or appointed after that date |
Annual Supplemental Benefit
| VRS (State/Teachers) | None |
| VRS (Political Subdivision) | None |
| SPORS/VaLORS/LEOS | The value of the supplement is adjusted annually. $10,704 to normal Social Security retirement age (SPORS/FIRE/LEOS) (if retiree has 20 years of hazardous duty service) VaLORS members with the 1.7% multiplier receive the supplement from date of retirement until age 65. |
| JRS | None |
© 2010, Commonwealth of Virginia
Rev. 18-Feb-2010
