It’s never too early or too late to invest in your future, and the Department of Human Resources is here to help. The university’s retirement plans provide ample opportunities for employees to save for the future.
Regular and restricted full-time and part-time salaried staff are covered by the Virginia Retirement System. Faculty employees may participate in the Virginia Retirement System or in an Optional Retirement Plan.
403(b) tax deferred savings plans and 457(b) deferred compensation plans
Employees are offered several choices of investment options to supplement their retirement plans. Employees may participate in either a 403(b) tax deferred savings plan, the 457(b) deferred compensation plan, or both. The state also provides cash match benefits to assist eligible employees in preparing for retirement.
Virginia Tech is committed to making sure employees are well prepared for retirement. The Department of Human Resources hosts retirement counselors from Fidelity, TIAA, and ICMA-RC on a regular basis. Informational retirement sessions on a variety of related topics are held each fall. A Retirement Planning Guide is also available for employees enrolled in the Virginia Retirement System (Plans 1 and 2).