Employer Update

The VRS Board of Trustees has named Voya Financial to serve as the third-party record keeper for the VRS defined contribution plans (DCP) beginning January 1, 2025, subject to final contract negotiations.

Following an expected 18-month transition period, Voya will assume record-keeping responsibilities for VRS-sponsored defined contribution plans including the Commonwealth of Virginia 457 Deferred Compensation Plan, the Virginia Cash Match Plan 401(a), the defined contribution component of the Hybrid Retirement Plan as well as three optional retirement plans available through VRS.

Read the full release.