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Portability of Retirement Benefits
Portability of Retirement Benefits
Newport News Employees' Retirement Fund (NNERF) has a portability agreement with the Virginia Retirement System (VRS) and the Richmond Retirement System (RRS). Individuals must be vested in either retirement system to be eligible to port the service. New hires have 18 months from their hire date to decide whether or not to transfer the assets. After this 18-month election period, employees will lose their eligibility to participate in this program.
