VRS Employer Update 2023

July 2023 Featured Articles

a hand holding up a roll of cash next to text that says save the raise

How to Boost Retirement Income? Encourage Employees to Save the Raise

Many employees will see a bump in pay this summer. Saving part of their raises now can mean having more cash in retirement.

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Custom Tools in myVRS Improve Members’ Plans for a Secure Future

Using the tools in myVRS, members can create an income plan for retirement and project their monthly benefits.

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Two halves of an oval labeled Defined Benefit and Defined Contribution are split down a jagged seam by text that reads July 2024.

New Resource Will Help You Navigate Changes to Hybrid Plan Administration

A new resource will walk you through changes in how employer contributions will be calculated and paid for the hybrid plan.

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text reading FY2024 with fireworks inside the numerals

FY 2024 Kicks Off With Changes – What You Need to Know

A new fiscal year brings new legislation, changes in retiree COLAs and important updates to VRS resources and websites.

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July 2023 Articles

On the left, a teacher points to her white board which flows into text on the right which reads News to Know.

Announcements

July 2023

Learn more about myVRS Navigator security reviews and training opportunities.

Your Turn to Ask

July 2023

What steps should I take to report employees who go out on or return from active-duty military leave?

FY 2024 Kicks Off With Changes – What You Need to Know

July 2023

A new fiscal year brings new legislation, changes in retiree COLAs and important updates to VRS resources and websites.

a male hand signing a paper with a pen and text which reads update contracts

How to Update Contracts for New Fiscal Year in myVRS Navigator

July 2023

As we begin a new fiscal year, now is the time to make sure contract information is up to date.

New Resource Will Help You Navigate Changes to Hybrid Plan Administration

July 2023

A new resource will walk you through changes in how employer contributions will be calculated and paid for the hybrid plan.

Custom Tools in myVRS Improve Members’ Plans for a Secure Future

July 2023

Using the tools in myVRS, members can create an income plan for retirement and project their monthly benefits.

How to Boost Retirement Income? Encourage Employees to Save the Raise

July 2023

Many employees will see a bump in pay this summer. Saving part of their raises now can mean having more cash in retirement.

an official looking seal with text on it saying VRS Audit Ready followed by headline text reading GASB data

Coming Soon: Important GASB Data for Your Annual Financial Reports

July 2023

VRS will provide resources to help you prepare annual financial statements for the fiscal year that ended June 30.

A flat single-color graphic of the United States Capitol building dome is on the right with large text saying Secure 2 point oh act on the left.

Planning Ahead for SECURE 2.0

July 2023

VRS is reviewing how new federal legislation may affect payroll processes, business rules and overall plan administration.

text saying new DCP record keeper announced

VRS Selects New Record Keeper for Defined Contribution Plans

July 2023

After an expected 18-month transition period, Voya will assume record-keeping duties for VRS defined contribution plans.

Alight Takes Ownership of ReedGroup

July 2023

Over the next few months, references to ReedGroup will change to Alight on websites, in handbooks and in other communications.

Announcements

Financial Reporting

Employer Training

Member Education

Forms

Your Turn to Ask