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The original item was published from 10/25/2023 9:57:00 AM to 10/25/2023 11:01:21 AM.

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Retirement

Posted on: October 25, 2023

[ARCHIVED] Read about the History of NERS

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In 1942, the population of Hampton Roads boomed thanks in part to the growth of the defense industry in the region. The NERS was created in response to the increased need to provide retirement benefits for public sector employees, as the Social Security program at the time did not cover government workers, and political subdivisions of the Commonwealth did not have the option to join the VRS until 1944. NERS operates a defined benefit pension plan that was established by Section 37 of the Code of the City of Norfolk, Virginia (Code), and began operations as of January 1, 1942. Read more about the history of NERS.... 

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