The 457 Deferred Compensation (DC)Plan is a voluntary supplemental retirement savings program and the amount contributed accumulates tax-deferred until the Plan amounts are distributed (generally after retirement). LCPS offers to all employees the Commonwealth of Virginia (COV) 457 DC Plan through the Virginia Retirement System with Voya Financial as the record keeper.
Individual consultations are available with our Voya 457 Defined Contribution Education Specialist, Harriet Clift. Whether you're a Hybrid Plan Member wanting to take advantage of the Hybrid 457 DC Plan investment component or a VRS Plan 1, Plan 2 or Hybrid Member who wishes to contribute to a stand-alone 457 DC Plan, Harriet can assist you to understand your investment options, manage contributions, and develop a strategy for your retirement plans. Click here to register for a virtual appointment.
Detailed information regarding available funds, fund histories, investment strategy education and forms is available on the VRS website.
Your Account
You can view your account or learn more about the VRS 457 plans online at https://dcp.varetire.org/. From there you can:
Enroll in the COV 457 DC Plan
Update/change your contribution amount
View your account information
Manage your investments
View fund prices
View investment performance
Review the FAQ's
FAQs
How do I enroll?
What is the minimum amount I can contribute?
What is the maximum amount I can contribute?
For 2025, $23,500 per calendar year or $31,000 per calendar year if you are 50 years or older in 2025. A new higher additional catch up of $11,250 is available if you are between age 60-63 for 2025 (total $34,750).
How do I access my 457 plan account?
