Your Options
1. Leave your accumulated ERFC contributions on deposit.
Vested members (5 or more years of service). You can leave your funds with ERFC and become a deferred vested member. Your funds will continue to accrue interest until you’re eligible to retire. If you return to an ERFC-covered position at FCPS before you retire, you’ll return to active member status and resume contributing and earning service years under your current plan.
Unvested members (less than 5 years of service). You can leave your funds with ERFC, but they’ll stop earning interest after 10 years. At that time, if you aren't returning to FCPS, you'll want to consider refunding or rolling over your funds. If you leave your funds with ERFC and return to an ERFC-covered position at FCPS before you retire, you’ll resume contributing and earning service years under your current plan.
2. Refund or roll over your accumulated ERFC contributions (plus interest).
Please Note: If you take a direct refund of the amount, meaning you’d get a physical check in the mail, ERFC will withhold 20% federal and 4% Virginia state tax (for Virginia residents). If you refund or roll over your ERFC contributions, you forfeit the employer contributions and your ERFC credited service will be canceled. If you were vested, you'll no longer be eligible for a monthly ERFC benefit when you retire.
It's your responsibility to initiate a refund or rollover. To do so, log in to your ERFCDirect account the month after your last day of work. Under “Forms,” select Election to Request Refund or Rollover of Contributions (ERFC 21A). After you’ve completed the form, mail it to our office or request a secure email to electronically submit it. Once we approve your ERFC 21A, we’ll process your request within 60-90 days.
Impact of a Refund or Rollover
If you have 5 or more years of service in your ERFC plan and you refund or roll over your ERFC contributions, you forfeit the employer contributions and your rights to a lifetime monthly benefit beginning at your retirement age. Please also note the following details that apply based on which plan you're in:
- ERFC Legacy Plan Members (Hire Date: Before July 1, 2001): You will be unable to return to coverage under the ERFC Legacy benefit structure. If you withdraw your contributions and you are later hired into an ERFC-covered position, you’ll be automatically enrolled in the ERFC 2001 Tier 2 plan.
- ERFC 2001 Tier 1 Plan Members (Hire Date: July 1, 2001 to June 30, 2017): If you’re rehired into an ERFC-covered position within five years of your FCPS termination, you can redeposit your accumulated contributions with interest within 90 days after you’re rehired. This will restore your previous service credit. However, you’ll be enrolled as a new employee under the ERFC 2001 Tier 2 plan benefit structure, and your previous service will accrue to that plan. It is your responsibility to notify ERFC if you want to redeposit your accumulated contributions if you're rehired.
- ERFC 2001 Tier 2 Plan Members (Hire Date: July 1, 2017 to Present): If you’re later hired into an ERFC-covered position, you’ll be enrolled as a new employee under the ERFC 2001 Tier 2 plan.