Employer Update

As of September, the online retirement feature in myVRS is open to most VRS members (see exceptions) following a gradual rollout to employers that began in the spring.

Members also may now set up and update beneficiaries through myVRS for their defined benefit member account and group life insurance. The online process saves time and eliminates the need to submit a paper form to VRS. Although the Designation of Beneficiary (VRS-2) remains available on the website, VRS anticipates phasing out the form by early next year.

VRS had processed more than 300 retirement applications through the new online process as of August. The support of employers has been invaluable as VRS has released this myVRS feature to retiring members, in the quest to make the retirement application less time-consuming while integrating vital counseling on benefit options into the online process.

Similar to the webpage created for employers during the rollout, the VRS member website now offers a preview of the online retirement process as well as other new features available to members and retirees in myVRS. The webpage may serve as a helpful point of reference to employees as they explore VRS’ online service offerings. After you review the webpage, consider emailing employees to make them aware that most VRS members will retire online in the future.