Retirement Savings Limits Increase for 2015
The IRS has increased the retirement savings limits for calendar year 2015. For the VCU 403(b) Tax Deferred Annuity retirement savings plan (“TDA”) with TIAA-CREF and/or Fidelity Investments, participating employees may save up to $18,000.00 in calendar year 2015 (increased from $17,500 in 2014). Participants eligible for the age 50+ catch-up may save up to […]
VRS Hybrid Plan Participants: Deadline for Contribution Change Elections is December 15th
Faculty members and classified staff in the Virginia Retirement System Hybrid Retirement Plan may make changes to their voluntary defined contribution amount once per calendar quarter. Higher voluntary contributions result in increased matching by VCU! Participants can make changes online at www.varetirement.org/hybrid.html or by telephone at 1-855-291-2285. For online access instructions, see “Quick and Easy Access to Your […]
Benefits Impact of Same-Sex Marriage Recognition in the Commonwealth
The Commonwealth of Virginia’s benefits programs for state employees were written with the stipulation that in order for spouses to be eligible the marriages must be recognized as legal in the Commonwealth. The Commonwealth of Virginia began recognizing same-sex marriages on October 6, 2014. From that date forward, the eligibility for spouse benefits in the […]