Vesting

Post

Vesting

VCERA members are vested in the retirement plan after earning five years of eligible retirement service credit. Eligible service for vesting includes credit you earned as a VCERA member, purchased previous County or District service, and reciprocal service. Purchased public service credit is not included for vesting purposes. If you are a vested member, you have additional rights and options within the Plan, which are described below.

When you are a vested member and you terminate employment, you may be placed on deferred status, then apply for a service retirement benefit once you meet VCERA’s minimum eligibility requirements. If you are not vested and you terminate employment, you have the option to leave funds on deposit with VCERA, and you may apply for a service retirement benefit at age 70. Both vested and non-vested accounts accrue interest, unless a non-vested member separates from service prior to January 1, 2003.

If you are a vested member, you also have the ability to purchase retirement service credit while in deferred status. If you are a separated non-vested member, you are not eligible to purchase retirement service. All members are eligible to purchase service while actively employed.

Vesting also allows you to apply for a non-service connected disability retirement. If you are a vested member and pass away while actively employed, your eligible survivor may have the option to receive a non-service connected death continuance benefit.