Hybrid Plan VRS Members See Auto - Increase in Voluntary Contributions in January
By: Orange County Communications Department
This is a reminder that auto escalation for VRS Hybrid employees took effect on the January 6, 2023, pay date. If you were not already contributing the maximum voluntary contribution of 4%, your voluntary VRS contribution automatically increased by 0.5% effective on the January 6, 2023, pay date. This occurs once every three (3) years until you reach the maximum voluntary contribution of 4%. Please see the below graphic for more details. The higher your voluntary contribution, the more you can save on a pre - tax basis and take advantage of both compound earnings and employer matching funds. To visualize how this increase will impact your paycheck, check out the Hybrid Member Paycheck Calculator. If you have any questions about the auto - increase for VRS Hybrid employees, please call Participant Services at VRS - DC - PLAN1 (877 - 327 - 5261), and select option 1 or log in to Account Access at varetire.org/hybrid.
Page 7 | February, 2023
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