Employer Update

2021 marked a milestone year for myVRS, with the rollout of online retirement for most members and several new self-service features added to the secure online portal.

Online retirement: Members who retire online in myVRS will find pre-retirement counseling information, including videos and step-by-step guidance at key decision points. The online application experience is designed to be intuitive and self-service.

Members who are eligible to retire using the online system will see the Apply Now button in myVRS. Employers should continue to provide the normal level of counseling to employees as they prepare to retire, especially regarding individual employer benefits.

Initially, online retirement is not available to all members. Exceptions include but are not limited to those retiring with:

• Hazardous duty service.
• Judicial service.
• Long-term disability in their record or retiring on disability.
• Approved Domestic Relations Orders (ADRO) on file.
• Ongoing purchase of prior service agreements.

These members are welcome to explore the Retirement Planning section of myVRS. However, they will see a message letting them know VRS cannot accept their online application at this time. They should submit the Application for Service Retirement (VRS-5)directly to VRS.

Also, members who are retiring on disability will continue to use the Application for Disability Retirement (VRS-6)and associated forms.

Self-service features in myVRS: By logging in to myVRS, members can easily review their account and easily maintain certain information.

• Beneficiary management: Members may update beneficiaries online for their VRS defined benefit member account and group life insurance benefits. Those with defined contribution accounts will continue to update beneficiaries directly through their defined contribution account record keeper.
• Accessing survivor benefits: Members who are receiving survivor benefits based on another VRS member’s account now have access to view their survivor benefits using their personal myVRS accounts.