Navigator
Get Started Processing Summer Retirements
We know spring has arrived when crocuses and daffodils shoot through the soil and baseball players head back to the diamond to work off that winter rust.
It’s also the season when employers typically face a larger-than-normal volume of folks filing for summer retirement.
As your partner, VRS offers an array of services to supplement your efforts to prepare employees for the big day. Some steps to guide you:
Certification
You will certify all retirements through myVRS Navigator. To certify retirements, go to the Organization menu option and select Retirement Certification. You should certify all pending retirements as you receive them, even if the retirement is dated for a future month. A screen in myVRS Navigator displays all retirements awaiting employer certification. A bulk certification feature speeds the process if you have multiple retirements.
myVRS Registration
Encouraging employees to register for and use myVRS will speed things along for you, because many employees will be able to apply for retirement online once they have registered in myVRS. Remind retiring members to register their myVRS account using a home email address for uninterrupted access in retirement. Registration is highly beneficial for members because the targeted resources in myVRS provide grounding in all aspects of planning and applying for retirement. Plus, registering for myVRS is a critical security best practice to lower the risk of identity theft.
Communication
Please help make employees aware that they must file for retirement not less than 60 calendar days (and no more than 120 days) from the date they wish to begin receiving benefits. For example, a member wishing to retire on July 1, should apply no later than May 1. The first benefit payment would come on August 1 for the month of July.
Consider including the following article into your next employee newsletter or onto your agency intranet. The article below walks employees through some of the tip-filled resources VRS offer on planning for and applying for retirement.
Ready to Retire? Prepare Now for the Next Stage
VRS offers a wealth of resources to guide you through the process of planning for and filing for retirement. If you are filing for retirement soon, take advantage of these resources:
myVRS
If you haven’t already done it, register for myVRS. Doing so not only gives you access to the myVRS Benefit Estimator and Retirement Planner, but also allows many members of VRS to apply for retirement online and skip the paper forms. Before starting the online application, review our pre-retirement counseling information, including videos, links to resources and details about other benefits available to you in retirement. If you are eligible for online retirement, you’ll see the “Apply Now” button, which take you through the application step by step.
Retirement Readiness Checklist
Consult this handy one-pager that allows you to check off each pre-retirement task as you complete it. It also contains links to many tools and programs you may need to review, such as retiree health benefits or life insurance (where applicable).
Webinars
Check out recorded and live webinars on topics such as “Your Next Steps” (for individuals within 12 months of retirement) or “Benefit Payout Options.”
Financial Wellness
Need some help preparing a retirement budget or an estate plan? Check out myVRS Financial Wellness for great articles and videos to guide you.
Personal Counseling
If you’d like to speak to someone individually, take advantage of in-person or virtual counseling appointments where VRS staff walk you through the retirement process and answer your questions.
