Employer Update

To help with budget preparation, easily access and download your actuarial valuations and rate letters from myVRS Navigator.

All political subdivision employers can now download 2023 actuarial valuation reports and rate letters directly from myVRS Navigator. These reports will no longer come to you by email.

To access your actuarial valuation and rate letter:

1. Log in to myVRS Navigator.

   NOTE:
   You may need to coordinate with others in your organization who have access to myVRS Navigator to download the valuation reports.

2. Click on the Reports drop-down menu heading.
3. Scroll to and click on Generated Reports.
4. Type "valuation" in the report search field to filter the list to include valuation reports for your pension and health insurance credit (if applicable).
5. Type "rate letter" in the report search field filter the list to include your rate letters. The rate letter includes your retirement contribution rate along with rates for group life insurance and the health insurance credit (if applicable).

The new contribution rates are effective for fiscal years 2025 and 2026, beginning July 1, 2024, and ending June 30, 2026.

Overall, the defined benefit rate will increase less than 1% for most political subdivision employers (70%) based on 2023 valuations.

Hybrid Retirement Plan rate separation: Effective July 1, 2024, the board-certified retirement contribution rate no longer includes an amount for expected contributions to the defined contribution component of the Hybrid Retirement Plan. Employers continue to be responsible for funding the defined contribution match (between 1% to 3.5%, based on each member's voluntary contribution election). For budgeting purposes, refer to the most recent employer mandatory and matching contributions you made to MissionSquare Retirement. Learn more about hybrid rate separation.