Employer Update

If you have employees who are preparing to retire, we encourage you to remind them to take advantage of online retirement – a convenient service available to many members through their myVRS accounts.

The online process offers multiple advantages over the paper form, including just-in-time counseling tips and videos.

How it works: After logging in to their myVRS accounts, eligible members can select Apply Now to access the online retirement application in the Retirement Planning section. They may also view pre-retirement counseling information, including videos and step-by-step guidance at key decision points.

Members may apply up to 120 days before their retirement date. VRS encourages early submissions to allow for processing time and prevent delays in benefit payment.

If they do not see a button to apply, members will see a message stating that VRS cannot accept their online application at this time, and they can submit a paper application directly to VRS.

For more information and additional details about exceptions to this process, refer to the Online Retirement section of the VRS employers website.

Self-service features: Members and retirees now have access to additional self-service features in myVRS. By logging in to myVRS, they can readily review account information and easily maintain certain information.

• Beneficiary management: VRS members and retirees can update beneficiaries online.
• Payment destination maintenance: Retirees can now log in to myVRS to set up direct deposit or notify VRS when they change financial institutions or bank accounts and need to redirect their monthly benefit payment.
• Health insurance credit maintenance: Retirees eligible for the health insurance credit can now go online to claim the credit, report insurance premium changes or make other adjustments. No more paper form!
• Survivor benefits access: Members or retirees who are receiving survivor benefits based on another VRS member's account now have access to view their survivor benefits using their personal myVRS account.

Employers' role in the process: In addition to certifying retirements online, employers should continue to counsel employees as they prepare for retirement, especially regarding individual employer benefits.

To ensure a smooth experience for members, take time to review Online Retirement in myVRS: Frequently Asked Questions.