FINANCIAL_SERVICESPENDING

Herndon Considers Adopting VRS 457 Plan for Employees

The Town of Herndon is proposing to adopt the Commonwealth of Virginia 457 Deferred Compensation Plan administered by the Virginia Retirement System for its employees. The change from the current provider is expected to save roughly $30,000 annually while improving service, compliance, and financial education offerings.

Status
PENDING
Document date
July 27, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Virginia Retirement System
Agency
Town of Herndon town · VA

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Approximately $30,000 per year in estimated employer cost savings (no stated implementation cost)
Contract type
FINANCIAL_SERVICES
Contract term
Ongoing 457(b) plan recordkeeping and administration; term not specified
Renewal
No explicit renewal terms provided; arrangement would continue as long as the Town participates in the VRS COV 457 program.
Document type
AgendaPacket
Source document
Town of Herndon Regular Meeting Agenda Packet 2026-07-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Herndon town?

Virginia Retirement System was awarded this financial services contract by Town of Herndon town, as recorded on July 27, 2026. The contract value is Approximately $30,000 per year in estimated employer cost savings (no stated implementation cost).

How much is the Virginia Retirement System contract with Town of Herndon town worth?

The Virginia Retirement System contract with Town of Herndon town is valued at Approximately $30,000 per year in estimated employer cost savings (no stated implementation cost), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Town of Herndon Regular Meeting Agenda Packet 2026-07-28 (AgendaPacket), dated July 27, 2026 from Town of Herndon town. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Virginia Retirement System hold?

Virginia Retirement System may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Virginia Retirement System's profile

What is Town of Herndon town currently buying?

Explore Town of Herndon town's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Town of Herndon town's profile

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