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Explore the Benefits Offered by VRS’ New DCP Record Keeper
As of January 1, Voya Financial assumed record-keeping responsibilities for the following VRS defined contribution plans:
- Hybrid Retirement Plan (defined contribution component)
- Commonwealth of Virginia 457 Deferred Compensation Plan
- Virginia Cash Match 401(a)
- Optional Retirement Plan for Political Appointees
- Optional Retirement Plan for School Superintendents
- Optional Retirement Plan for Higher Education (joining TIAA as one of the provider choices)
- Virginia Supplemental Retirement Plan
The transfer of plan records from MissionSquare Retirement (the previous record keeper) to Voya is now complete. Employees with DCP accounts have received a Voya notification directing them to dcp.varetire.org/login to set up their online account, or they can call 877-327-5261.
Additional Security Measure Required for Participants
To provide greater information security, Voya will require a Personal Identification Number (PIN) for first-time registration of online accounts and financial transactions by phone.
Who Needs a PIN? New hires, employees who did not have an online account with MissionSquare, and employees who were registered but had an invalid email address received a PIN via U.S. mail (letters mailed in late December). They should use the PIN to establish their online accounts or save their PIN in a secure location for future use in conducting business by phone.
Who Doesn’t Need a PIN? Employees who already had an online DCP account with MissionSquare do not need a PIN to establish their new Voya DCP account starting this week. Instead, they should visit the login site and authenticate their identity through a code sent to their email.
Employers: Learn More About PayCloud and Sponsor Web
Payroll staff can learn more about Voya Sponsor Web, the new employer portal for VRS defined contribution plans, and can receive training on how to remit contributions, download deferral change reports and navigate Voya PayCloud by attending one of two remaining sessions:
Staff members who need access to Sponsor Web but are not responsible for remitting contributions can attend an abbreviated training on the employer portal only:
Employees: Online Sessions Cover New Tools from Voya
Participants will benefit from the interactive tools and professional services now available through Voya. They can access an intuitive website and mobile app to confidently manage their retirement plan.
- Encourage employees to attend a transition information session hosted by Voya. Multiple days and times remain available, as well as a recorded webinar.
- Schedule a customized, onsite session for your employees. Email DCP Plan Coordinator DaJon Johnson.
Need More Information?
- Bookmark dcpemployers.varetire.org.
- Call the Voya Employer Support Team at 844-570-1482 from 8:30 a.m. to 5 p.m. ET Monday-Friday.
- Email the DC Plans Retirement Coordinator at DaJon.Johnson@voya.com.
