General Employees > Richmond Retirement System

Application Process

Quick Reference Handbook for Service and Early Service Retirements

Step 1

When you have decided on your retirement date, request an estimate of your benefits at least six months before your prospective retirement date.  This will allow you sufficient time to determine which benefit payment option is best for you.  A description of each benefit payment option is included at the end of this section.  

Step 2

Members (active and deferred) must complete a retirement application in order to receive a monthly benefit from the System. Applications may be submitted no more than ninety (90) days, but no less than sixty (60) days, before the effective retirement date (must be the first day of the month). For those applications not submitted within this 90 - 60 day window, payment of benefits may be delayed and payment made retroactive to the retirement date.  Retirements are effective the first day of the month.

Step 3

Once you have finalized your decision to retire, you may schedule a counseling session to complete your retirement application or you may mail it to the System. You should bring the following documents and/or information with you to your counseling session:

• Provide proof of age (preferably your birth certificate)
• Note: If you select a survivor option, also provide a copy of your survivor’s birth certificate.
• Photo Identification (if you attend a counseling session)
• Social Security number, birth date and address for your beneficiary(ies)
• A voided check or a savings account deposit slip for direct deposit

Active Vested Members

Active vested members may schedule a counseling session to complete the application packet or return it by mail to: Richmond Retirement System, 900 E. Broad Street, Room 400; Richmond, VA 23219.

The application packet consists of the following forms:

1. Retirement Application
2. Beneficiary Appointment/Change (Complete if you were employed with the City prior to June 13, 1988)
3. Direct Deposit Authorization (attach a voided check or a savings account deposit slip)
4. Federal Tax Withholding Certificate
5. State Tax Withholding Certificate
6. Health/Dental Insurance Deduction Authorization

View a sample of a completed application

Deferred Vested Members

Quick Reference Handbook for Deferred Service and Early Service Requirements

Deferred vested members may complete the application package and return it by mail to: Richmond Retirement System, 900 E. Broad Street, Room 400; Richmond, VA 23219.

The application package consists of the following forms:

1. Retirement Application
2. Beneficiary Appointment/Change
   (Complete if you were employed with the City prior to June 13, 1988)
3. Direct Deposit Authorization (attach a voided check or a savings account deposit slip)
4. Federal Tax Withholding Certificate
5. State Tax Witholding Certificate

The completed application must be received in the Richmond Retirement System's Office prior to the effective retirement date. Also, you must submit documentation for proof of your age (preferably your birth certificate).  If you do not have a copy of your birth certificate, please submit one of the documents from the list of Acceptable Documents for Proof of Age.

Benefit Payment Options

When you elect to retire, you must determine how you would like your retirement benefit paid from the options described below.  If you do not elect an optional benefit payment, your benefit will be automatically paid to you through a life annuity, i.e. the Basic Benefit.

Basic Benefit
This form of payment provides a monthly benefit to you for life.  However, when you die, all benefits stop.  There are no monthly payments to a beneficiary after your death.

Social Security (Smooth-Out) Option
This form of payment provides an increased monthly benefit prior to age 65. When you reach age 65, your retirement benefit will be reduced by the projected amount of your primary Social Security benefit.  The purpose of this option is to provide for a more nearly level total retirement income before and after age 65, taking into account the federal Social Security benefits. There are no monthly payments to a beneficiary after your death. Note: This option is not available for service retirements.

Joint and Survivor Option
This form of payment provides a reduced benefit during your lifetime. Upon your death, the same amount or a designated fraction (25%, 50%, 75% or 100%), will continue to be paid to a designated beneficiary, if living. Your benefit remains reduced if your beneficiary precedes you in death.

Pop-Up Joint and Survivor Option
This form of payment provides a benefit reduced more than in the previous option, with the same amount or a designated fraction (25%, 50%, 75% or 100%), continuing after your death to your designated beneficiary.  However, if the beneficiary predeceases you, the benefit is increased to the amount you would have received under the Basic Benefit, as if you had not elected an optional form of benefit.

Level Option
This form of payment provides a level monthly benefit for your lifetime which is less than the basic benefit before age 65 and greater after age 65.  (Available only to firefighters and police officers or former vested members who separated from the City prior to March 1, 1997.)

If you elect either the Joint and Survivor Option or the Pop-Up Joint and Survivor Option at retirement, the designated beneficiary does not have to be a spouse or relative. Please be reminded, however, that once your retirement is effective, the designated beneficiary for either of these payment options cannot be changed.