Employer Update

Get the latest on VRS’ investment activities: The latest quarterly Investments Reportfeatures an updated design and a new column from Chief Investment Officer Ronald Schmitz. The report highlights quarterly fund performance while the column provides context for the data, as well as additional insights into VRS’ investment strategy. Find quarterly reports on the Investments page of the VRS website.

Contact VRS before reporting retroactive salary increases: If your employer has approved retroactive salary increases for this fiscal year, do not make updates to the current reported salaries in myVRS Navigator. Instead, contact your employer representative as soon as possible for guidance and assistance with reporting the new salaries. Attempting to update the salaries in myVRS Navigator will delay processing of your current snapshot.

Keep employer role email addresses current in myVRS Navigator: It is a good practice for Security Administrators to regularly verify the email addresses of users assigned roles or included as contacts in myVRS Navigator. Generally, Security Administrators can change the contact emails for users in the system. However, should you encounter difficulties making any required changes, please contact VRS Employer Support.

2021 COLA and hazardous duty supplement increases take effect July 1 for eligible retirees: A cost-of-living adjustment (COLA) of 1.23% takes effect July 1 for eligible retirees in Plan 1, Plan 2 or the Hybrid Retirement Plan (defined benefit component only). The hazardous duty supplement will increase July 1 to $1,222 per month ($14,664 annually).

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.