Scenic Tazewell County in the fall

History

Fairfax County Public Schools (FCPS) and the Fairfax Education Association (FEA) created ERFC on July 1, 1973, to help build financial retirement security for our members.

As an independent retirement pension, ERFC supplements the primary benefits you’ll receive from the Virginia Retirement System (VRS) and Social Security.

For over five decades, we've made prudent financial investments to ensure this benefit for generations of FCPS employees. ERFC is fiscally strong and well-funded and serves more than 40,000 active and retired members.

ERFC Through the Years

1973: FCPS and FEA establish ERFC
1977: 3rd Actuarial Valuation
1982: Member Handbook
1986: Member Handbook
1988: Altered the ERFC Plan in response to VRS Changes.
2001: Established the ERFC 2001 Tier 1 Plan.
2004-2005: ERFC Sunshine Committee
2011: Launched ERFCDirect, a secure online portal for members.
2013: Celebrated 40 years of providing financially secure retirements.
2014: Member Newsletter
2017: Established the ERFC 2001 Tier 2 Plan.
2023: Celebrated 50 years of providing financially secure retirements.

What Economic Impact Does ERFC Have on Virginia?

ERFC helps ensure a safe and secure retirement for FCPS' current, retired, and future full-time educational, administrative, and support employees by supporting Virginia's economy.

69.2% of retiree benefits are paid to Virginia residents*
43.2% of retiree benefits are paid to Fairfax County residents*

Retirement benefits paid by ERFC and other state and local pensions helped Virginia:**

Support 44,476 jobs that paid $2.4 billion in wages and salaries
Create $7.8 billion in total economic output
Bring in $1.1 billion in federal, state, and local tax revenues
Each dollar paid out in pension benefits supported $1.20 in total economic activity in Virginia.*
Each dollar “invested” by Virginia taxpayers in these pension plans supported $4.10 in total economic activity in the state.*

*As of 2024
**National Institute on Retirement Security January 2023 report: Pensionomics 2023—Measuring the Economic Impact of DB Pension Expenditures, Virginia.