Navigator
Announcements
State budget: As of the publication date, the state budget is still under review. Watch for the VRS Legislative Summary online once the budget is finalized.
Counseling soon-to-retire members: The Getting Ready to Retire guidehas been updated to include relevant information for members in VRS Plans 1 and 2 as well as the Hybrid Retirement Plan. The publication provides important information about the retirement application process and benefits in and after retirement.
Update Line of Duty Act coverage lists: If you participate in the Line of Duty Act (LODA) Fund, you should have received an email at the end of April requesting an update of your LODA coverage list. The email to human resource managers included a spreadsheet of fiscal year 2022 eligible employees and volunteers, along with instructions for updating the list. If you have questions or did not receive the request, please email lodabilling@varetire.org.
Form change makes updating in myVRS Navigator contacts easier: The Authorization of Administrative Contacts (VRS-67A)has been updated to designate key roles more easily in myVRS Navigator. A new page was added for designating secondary contacts. This page can be copied as needed should your organization need to list additional administrative contacts. The second page is now used only for designating primary administrative contacts. If you encounter any issues or have questions about the change, please contact Employer Support.
Serving those who serve others for the last 80 years: VRS began operations in 1942, replacing a fund for retired teachers that traced its origins to 1908. Early VRS membership was limited to teachers, school administration employees and state employees, though eligibility soon expanded to include employees of political subdivisions. Today, VRS is proud to serve 835 participating employers and 755,000 members, retirees and beneficiaries. View a timeline of key VRS events.
VRS adds online access to optional group life insurance benefits for retirees and eligible newly hired employees: VRS retirees now have secure access in myVRS to review their optional group life insurance coverage offered through Securian Financial. The online connection to Securian allows retirees to view or make changes to their optional coverage, if desired. A similar myVRS feature for members rolled out earlier this year, enabling members to link to the Securian site to purchase additional group life insurance coverage for themselves and family members and maintain the benefit online. In addition, newly hired employees can now link to Securian through myVRS to view optional group life insurance benefits, if eligible. They no longer need to wait for the employer to run the monthly contribution confirmation.
Learn more about VRS’ investment strategy: Check out varetire.org/investments to gain deeper insights into how VRS’ long-term investment strategy supports members in retirement.
Retiree COLA takes effect July 1: Eligible retirees in Plan 1, Plan 2 or the Hybrid Retirement Plan (defined benefit component only) will receive cost-of-living adjustments (COLAs) for fiscal year 2023.
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.