The Hampton Employees' Retirement System (HERS) (PDF) was established as a separate trust in 1966 and became non-contributory for employees on January 1, 1975. The plan is a defined benefit retirement plan established and administered by the City of Hampton to augment the retirement benefits provided to full-time permanent City and School Board employees under the Virginia Retirement System (VRS).
All full-time permanent employees of the City and School Board, who are members of VRS and have credit with the Plan for service rendered prior to July 1, 1984, are members of The Plan. The Plan was closed to new entrants effective July 1, 1984.
The Plan provides retirement benefits as well as death-in-service and disability benefits. All benefits vest after five years of credited service. Employees who retire on or after age 60 with five or more years of credited service or upon attaining age 55 with 25 or more years of credited service (age 50 for public safety officers), are entitled to an annual benefit, payable monthly for life, which is offset by part of their VRS benefit. Employees who are age 50 or older with at least 10 years of service may be eligible to apply for an "early or reduced" retirement benefit.