Employer Update

VRS will officially transition defined contribution plan record-keeping services from MissionSquare Retirement to Voya Financial (Voya) on January 1, 2025. Participants in VRS defined contribution plans began receiving transition-related material from Voya Financial late last month.

The mailed transition newsletter explains how and when the record-keeper transition will take place and what changes participants can expect moving forward. Participants also were encouraged to sign up for one of Voya’s online information sessions to learn more.

How You Can Prepare for the Change

Voya will begin rolling out training for payroll and administrative system access in December, with sessions continuing through January.

Employer contacts, especially those working in payroll and human resources, will automatically receive emails notifying them of when and where to sign up for training that’s relevant to them.

To make sure you are on the list for training invites, contact the Voya DCP Employer Support Team at DCPERSupport@voya.com or 844-570-1482.

Preparing Participants for the Change

The transition from MissionSquare to Voya will begin December 20 and is expected to conclude on or around January 6, 2025. During the blackout period, participants will not be able to access to their accounts. Their funds will remain invested and continue to receive earnings during the transition period.

Remind employees to take time now to confirm, add or update their contact information in their DCP account, including their mobile phone number, email address, and beneficiaries.

When naming or updating beneficiaries through DCP Account Access, remind employees to also make updates to their VRS accounts in myVRS (for defined benefit and life insurance) as most DCP participants are VRS-covered employees.

Making certain employees’ account details are up to date helps secure their online accounts and ensures that transition-related communications reach them.

Two different participant flyers are available on the employer transition website:

• The standard flyer points participants to register for Voya’s general education sessions online.
• If you are hosting an employer-specific participant education meeting onsite, use the customizable flyer to add meeting information.

Questions?

• Visit dcpemployers.varetire.org to stay informed throughout the transition to Voya.
• Call the Voya Employer Support Team at 844-570-1482 from 8:30 a.m. to 5 p.m. ET.
• Email the DC Plans Retirement Coordinator at DaJon.Johnson@voya.com.