Frequently Asked Questions
Optional Retirement Plan for Political Appointees

Enrolling in the Plan

• How do I enroll in the Plan?
• What are the expenses associated with the Plan?

How do I enroll in the Plan?

The Secretary of the Commonwealth's Office, Attorney General's Office or the Lieutenant Governor's Office advises VRS of your eligibility to participate in the ORPPA. VRS will then send you an Election Packet, which includes Enrollment and Beneficiary Designation Forms to complete if you elect the ORPPA. Carefully read the comparison guide, “Choosing Your Retirement Plan,” included in the packet. If you choose the ORPPA, you must return your election form and the completed enrollment materials within 30 business days from the date on your enrollment letter. If you do not elect the ORPPA within this time period, you will be automatically covered by the VRS defined benefit plan. If you have any questions while completing the enrollment and beneficiary forms, contact your benefits administrator or VRS Member Services for more information.

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What are the expenses associated with Plan?

An annual record keeping and communication services fee of 19 basis points (0.19%), capped at a combined account balance of $130,000, will be deducted from your account on a quarterly basis (0.0475% per quarter). In addition, each investment option has investment management fees that vary by option. Fund Fact Sheets on each of the available investment options are included in your Election Packet. You can also find core investment option fees on the Web site at www.varetire.org under the Defined Contribution Plans tab or by calling the Plan Information Line toll-free 1-VRS-DC-PLAN1 (1-877-327-5261). For more information on fees associated with the Self-Directed Brokerage Account option, refer to the Fact Sheet online or call the Plan Information Line.

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