Retirement

All full-time, permanent employees are required to join this program and are then entitled to receive all benefits offered by the Virginia Retirement System. Participating employees are required by the Virginia General Assembly to contribute 5% of their salary to their account. The Town of Vienna makes a separate contribution into the program for all covered employees.

The Town of Vienna establishes a 401(a) account for all new, full-time, civilian employees after six months of employment. The Town's 401(a) plan, also known as a defined contribution plan, is administered by ICMA-RC. Through ICMA-RC, employees direct their accrued funds into a variety of investment options.

The Town contributes 2% of an employee's base (annual) salary into this account. An employee may elect to contribute additional personal contributions into this account. For any additional employee contribution, the Town will match 100%, up to 2%, making possible a total combined contribution of 6%.

This plan is sponsored and managed by the Town of Vienna. It is designed to provide benefits for retired sworn officers prior to their eligibility for state or federal retirement programs. Officers are eligible to retire after completing 20 years of sworn service with the Town of Vienna. (There is no age requirement.)

All sworn personnel are required to participate in this pension program. Police officers and the Town jointly fund this retirement program. Members contribute 1.5% of their base salary into the plan via bi-weekly payroll deductions, and the Town pays 6.08% of each member's salary.

For more detail, view the Police Plan Document in the human resources office.

The Town of Vienna has adopted and implemented an optional deferred compensation plan for all full-time, permanent employees. The program is administered through the Commonwealth of Virginia.

This deferred compensation program allows employees to postpone receipt of a portion of their salary and receive its value when they retire. The amount of earnings deferred is not subject to taxation until the money is paid out upon retirement. Payments to the plan are made via payroll deductions and may be increased, decreased, or discontinued at any time at the employee's discretion.

The Town of Vienna offers an optional Payroll Roth IRA plan to all full- and part-time, permanent employees. The program is administered through ICMA-RC.

Employees may join this optional plan at any time during the year as open season restrictions do not apply. The Payroll Roth IRA is funded through employee payroll deductions and may be increased, decreased, or discontinued at any time at the employee’s discretion.