Employer Update

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

Online Guide: The Fiscal Year-End Reminders webpage covers June and July processing tasks.

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

1. Update salary information. 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.
2. Make any required changes to employees’ contract details. Make necessary changes within the 10-business-day window after confirming your snapshot and before auto-renewal of contracts.
3. Confirm June snapshots. Schedule payments before the end of June, as soon as all monthly activity is known. See the Contribution Confirmation and Payment Scheduling chapter of the VRS Employer Manual.