Active members of the Virginia Retirement System (VRS) may be eligible to purchase qualifying prior service credit, which can increase their retirement benefit or help them reach retirement eligibility earlier. Purchasing service credit under the VRS changes only the amount of service used to determine VRS retirement benefits, and has no effect on employment records, leave accruals, or any other benefits.
Please view the VRS website for more information and time frames. For questions or further assistance with the purchase of prior service application, contact VCU Human Resources at benefits@vcu.edu.
Most refunded service credit refunded 1988 and later is already certified as eligible for purchase in the VRS system. In addition, periods of non-covered employment previously certified as eligible for purchase are generally visible in the VRS system. To initiate purchases for these types of service credit, log into your MyVRS account at www.varetire.org to begin the process.
The following types of service credit purchases require completion of the Application for Purchase of Prior Service Credit form (VRS-26). Follow the instructions on the form for certification and mailing:
Follow the instructions below for purchasing service credit for non-covered employment at VCU that is not already certified as eligible for purchase in the VRS system
Examples of accepted documentation include timesheets, paycheck stubs, employment contracts, class bulletins, Personnel Action Forms, W-2 statements and hourly rates, Social Security earnings statements (VCU employment only) and letters from deans or department heads with dates of employment, job titles and hours worked or percentages of time. Records of hours worked and pay issued at VCU are generally not kept for more than five years after employment ends. When applying to purchase service credit for non-covered VCU employment prior to a separation more than five years ago, you generally must provide the required records yourself in order for eligibility to be verified.
Return the VCU Employee Certification Form and copies of your documentation to:
VCU Human Resources
Attn: Purchase of Prior Service
P.O. Box 842511
Richmond, Virginia 23284-2511
Upon receipt of all completed forms and documentation, VCU Human Resources will respond within three to four weeks. Any periods certified as eligible for purchase will be entered by VCU into the VRS system.
Once VCU has entered a period of service into the VRS system as eligible for purchase, you may initiate your purchase request through your MyVRS portal at www.varetire.org.
There are three payment options for purchasing service:
Please note that purchasing service through pre-tax payroll deduction requires completing the Agreement for Salary Reduction to Purchase Service Credit. The form is also available from the VRS and from VCU Human Resources in the Lindsey House at 600 W. Franklin St. To purchase service through payroll deduction, a copy of the cost letter and the deduction form (pre-tax or after-tax) must be submitted to:
VCU Payroll Services
Attn: Purchase of Prior Service
Box 842511
Richmond, Virginia 23284-2511