The Virginia Beach City Council authorized the adoption of the Commonwealth of Virginia 457 Deferred Compensation Plan (COV 457), managed by the Virginia Retirement System, as the City's Deferred Compensation Plan subject to the periodic oversight and direction of the Deferred Compensation Board. 

Because the City Council has authorized participation in the COV 457 Plan, the supervision of such plan by the board shall be the regular review of the COV 457 Plan to evaluate whether such plan serves the interests of the plan participants.

If you want more information about the COV 457 Plan and the available investments, go directly to the Virginia Retirement System Deferred Compensation Plan page, or call 877-327-5261.

The current record keeper for the COV 457 Plan is MissionSquare Retirement. Contact the local area specialist at vgleveckas@missionsq.org.