Employer Update

At the close of each fiscal year, employers have important year-end tasks to perform and monitor. VRS appreciates your partnership in ensuring a smooth transition to the new fiscal year.

The Fiscal Year-End Reminders webpage provides detailed information on key tasks that are performed in myVRS Navigator during the summer months. The page organizes the reminders based on the month in which employers must take certain actions.

Here's a quick rundown of time-sensitive processing tasks for June:

Separate Critical Shortage Employees and Retiree School Security Officers by June 30

At the end of each school year, school division employers must separate the following employees:

• Retirees working in designated critical shortage positions – teachers, administrators and bus drivers
• Retiree School Security Officers

This year it is essential that employers separate these positions by June 30, because legislative changes require system updates to start the new fiscal year. From the report repository in myVRS Navigator, you can run the Return-to-Work Exception Positions Report for a list of each employee you must separate at the end of the school term.

These positions are considered temporary for the current school year only. Employers should recruit annually to fill these positions with full-time employees. However, you may bring back retirees in hard-to-fill positions by completing certifications each year.

Update Salary Information and Contract Details

If you report salary increases to VRS for July, you also should initiate salary changes in your payroll system to ensure you collect the full contribution amount for July.

Make any required changes to a contract employee’s contract start date, contract length or number of months within the 10-business-day window after confirming your snapshot and before auto-renewal of contracts.

Confirm Your June Snapshot

Completing this task on time ensures that employees’ information is correct as VRS prepares for fiscal year-end activities, such as adding interest to member accounts and creating the annual Member Benefit Profiles.

The Security Administrator or the Snapshot Processor 2 should confirm all snapshots through June 2023 in myVRS Navigator no later than 4 p.m., July 10. Employers will need to schedule payments at least three business days before the 10th of the month if submitting by ACH debit.

If possible, please confirm June snapshots and schedule payments before the end of June, as soon as all monthly activity is known. For further details, refer to the Contribution Confirmation and Payment Scheduling chapter in the VRS Employer Manual.

Look Ahead to July

After confirming your June snapshot, you can submit enrollments and maintenance changes, upload files, process prior service, generate snapshots and complete all other routine processing for July. However, you cannot confirm the July snapshot until year-end processing is complete at VRS.

You will receive an email and see a message on the myVRS Navigator dashboard alerting you when you may confirm your July snapshot.

For reporting purposes in myVRS Navigator, July 3 is the first business day of the new fiscal year.