- About
- Mission, Vision, & Values
Mission, Vision, & Values
What Is ERFC?
The Educational Employees' Supplementary Retirement System of Fairfax County (ERFC) is a defined-benefit retirement plan known as a pension. The ERFC pension supplements the primary benefits you’ll earn from the Virginia Retirement System (VRS) and Social Security.
Generally, full-time FCPS teachers, educational personnel, instructional assistants, administrators, administrative support staff, and technical staff are automatically enrolled in ERFC. After five years of full-time service, you’re “vested” and are eligible for an ERFC benefit when you retire. Your ERFC benefit is guaranteed for life and remains constant year after year—no matter what the market does.
Mission
To enhance the financial security of our members through prudent financial stewardship of a defined benefit plan while providing outstanding retirement services and education.
Vision
To be the leader among peers providing professional and personalized service to our members and beneficiaries to support their efforts to achieve financial independence.
Values and Management Principles
Our values and management principles drive what we do every day to meet our mission requirements and work toward our vision.
Accountability
We always operate with transparency and a commitment to think strategically while fulfilling fiduciary obligations.
Customer Service
We always respond promptly with quality as we strive to exceed the expectations of our members and their beneficiaries.
Open Communication
We provide timely and pertinent information that improves processes, removes barriers, and establishes accountabilities.
Integrity
We conduct operations by adhering to the highest standards of ethical conduct, striving for accuracy, efficiency, and effectiveness.
Continuous Education
Through ongoing education efforts, we enable ERFC employees to continuously improve the service and value they provide to our members; our Board of Trustees to more effectively guide and inform ERFC strategy; and our members to better understand and maximize their ERFC benefits.
Adequate Funding
To maintain adequate funding of all promised benefits and to ensure the financial integrity of the System.
Prudent Investments
To adopt comprehensive objectives, methods for evaluation of performance, and policies that ensure the highest possible investment return consistent with the prudent investment of plan assets.
Actuarial Studies
To have an annual actuarial valuation performed by an enrolled actuary in accordance with actuarial standards and to implement an actuarial experience study at least every five years.
Annual Reports
To keep, as part of the public record, annual financial, actuarial, and investment information that will be available for members and elected officers.
Financial Audits
To prepare an annual financial statement in accordance with generally accepted accounting principles and to implement an annual audit of the System’s financial statement in accordance with generally accepted auditing standards.