Early Retirement (VERIP) Applications Due Dec. 1

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RetirementThinking about retiring? VERIP (early retirement) applications are due December 1! If you are considering retirement during the next fiscal year (July 1, 2016 through June 30, 2017) and you will be under age 65, you may be eligible for an additional benefit under the County’s Voluntary Early Retirement Incentive Program (VERIP). Note: Ten-month School Division employees who wish to retire at the end of the school year will have a retirement date of July 1, 2016. 

To be eligible for VERIP you must:

  • Meet the age and service criteria for VRS retirement (Note: Part-time employees must meet the same age and service criteria as if they were full-time employees covered under VRS.);
  • Be a current benefits-eligible employee;
  • Be at least 50 years of age; and
  • Have been employed by the County in a benefits-eligible position for 10 of the last 13 years prior to retirement.

What does VERIP do for me?

The County will pay an amount equivalent to the Board’s annual contribution toward medical insurance. You may accept it as a cash payment, or apply it toward the cost of your County medical/dental benefits.

Who should submit a VERIP application?

Anyone eligible for VERIP who is interested in learning more about early retirement for FY2015-2016. If you would like to apply for VERIP, download the application, complete it, and return it to John McQuilkin in Human Resources no later than Tuesday, December 1, 2015. Employees who are still considering the possibility of retiring during FY2016-2017 also are encouraged to submit a VERIP application.

Submission of a VERIP application does not obligate you to retire. You may withdraw this application at any time and no staffing actions will result from the submission of the application unless/until you submit a resignation. 

If you are not considering retirement just yet, but would like to learn more about Albemarle County’s retirement benefits, please visit our Retirement site.

School Division employees: View Retirement policy GCPC »
Local Government employees: View Retirement policy P-63 »

If you have questions about applying for VERIP or need assistance with the form, please feel free to contact John McQuilkin by email at jmcquilkin@albemarle.org or by phone at (434) 296-5827 ext. 3074.