Vermont

Office of the State Treasurer


Protecting Vermont's Financial Future
State VSRS
Board of Trustees
Plan Description
Group Comparison
Newsletters
Calculators
Financial Reports
Health Insurance Info
Retirement Systems Executive Office Financial Management Press and Clippings

VSRS Group Comparision

Group Comparison Group A Group C Group D Group F
Employee Contributions 5.10% of gross salary 6.98% of gross salary 5.10% of gross salary 3.35% of gross salary
Employer Contributions 9.7% of gross salary 9.7% of gross salary 9.7% of gross salary 9.7% of gross salary
Average Final Compensation (AFC) Highest 3 consecutive years, including unused annual leave payoff Highest 2 consecutive years, including unused annual leave payoff Final salary at retirement Highest 3 consecutive years, excluding unused annual leave payoff
Benefit Formula 1.67% x creditable service 2.5% x creditable service 3.33% x creditable service (after 12 years in Group D) 1.25% x service
prior to 12/31/90 + 1.67% x service after 1/1/91
Maximum Benefit Payable 100% of AFC 50% of AFC 100% of Final Salary 50% of AFC
Normal Retirement (no reduction) Age 65 or 62 with 20 years of service Age 55 (mandatory) Age 62 Age 62 or with 30 years of service
Post-Retirement COLA Full CPI, from a minimum of 1% up to a maximum of 5%, after 12 months of retirement Full CPI, from a minimum of 1% up to a maximum of 5%, after 12 months of retirement Full CPI, from a minimum of 1% up to a maximum of 5%, after 12 months of retirement 50% CPI, from a minimum of 1% up to a maximum of 5%, after reaching age 62, or (if retired after June 30, 1997) 30 years service
Early Retirement Eligibility Age 55 with 5 years of service or 30 years of service (any age) Age 50 with 20 years of service Age 55 with 5 years of service Age 55 with 5 years of service
Early Retirement Reduction Actuarialy reduced benefit if under 30 years of service No reduction 3% per year from age 62 6% per year from age 62
Post-Retirement Survivorship Options 100% and 50% (with or without pop-ups), all actuarially reduced based on age of beneficiary 70% spousal survivorship with no reduction in retiree's benefit 100% and 50% (with or without pop-ups), all actuarially reduced based on age of beneficiary 100% and 50% (with or without pop-ups), all actuarially reduced based on age of beneficiary
Benefit Eligibility - Other (Vested Rights, Disability, Death-in-Service) 5 years of service (vested and disability) 20 years of service, or age 55 with 5 years (death-in-service) 5 years of service (vested and disability) 20 years of service (death-in-service) 5 years of service (vested and disability) 12 years of service, or age 55 with 5 years (death-in-service) 5 years of service (vested and disability) 20 years of service, or age 55 with 5 years (death-in-service)
Disability Benefit Unreduced, accrued benefit with minimum of 25% of AFC Unreduced, accrued benefit with minimum of 25% of AFC, with children's benefit of 10% of AFC to maximum of 3 concurrently Unreduced, accrued benefit with minimum of 25% of AFC Unreduced, accrued benefit with mimimum of 25% of AFC
Death-in-Service Benefit Disability benefit or early retirement benefit, whichever is greater, with 100% survivorship factor applied plus children's benefits up to maximum of three concurrently 70% of accrued benefit with no actuarial reduction applied, plus children's benefit Disability benefit or early retirement benefit, whichever is greater, with 100% survivorship factor applied plus children's benefits up to maximum of three concurrently Disability benefit or early retirement benefit, whichever is greater, with 100% survivorship factor applied plus children's benefits up to maximum of three concurrently
Medical Benefits
 
80% of total premium 80% of total premium 80% of total premium 80% of total premium
Plan Description
 
Group A Group C Group D Group F