Employer Update

2021 COLA and hazardous duty supplement increases took effect July 1: A cost-of-living adjustment(COLA) of 1.23% took effect July 1 for eligible retirees in Plan 1, Plan 2 and the Hybrid Retirement Plan (defined benefit component only). The increase applies to benefit payments deposited on August 1.

The hazardous duty supplement will increase July 1 to $1,222 per month ($14,664 annually). Eligible retirees will see the increase beginning with their August 1 benefit payments.

Reporting VLDP and local program disability claims or status changes? A pair of process guides will lead you through the steps. Both are available from VRS University in the Commonwealth of Virginia Learning Center. Log in to access the guides. If you need credentials, send an email to externalVLC@varetire.org requesting registration. Be sure to include your full name and work e-mail address.

Members should beware of unsolicited offers for retirement counseling services: Remember, VRS offers its counseling services free of charge. If members are uncertain that a communication originated with VRS, please encourage them to call 888-827-3847.

Defined contribution plan distribution requests move online: To improve account security and efficiency, VRS defined contribution plan participants may now conveniently request a distribution through Account Access, ICMA-RC's secure online portal.

Are you new to administering VRS benefits? Let us know so our employer representative team can introduce themselves to you and point you to resources and training opportunities.