Employer Update

April is Financial Capability Month, a chance for you to focus employees’ attention on creating a solid financial future that is supported by their employer and VRS.

Financial capability means having the knowledge and skills needed to navigate the financial world and make informed financial decisions.

Here are three ways you can help boost employees’ money knowledge and skills:

1. Point Them to Resources in myVRS

The secure online system is essential to member account management. Registering for myVRS is also a security best practice for VRS members.

• The dashboard in myVRS displays retirement eligibility dates, a member’s account balance and other VRS benefits.
• myVRS Retirement Planner helps members project income and expenses in retirement and gauge their retirement readiness.
• myVRS Benefit Estimator allows members to generate retirement benefit estimates and compare different scenarios.

2. Share the Benefits of Financial Wellness

The nationally recognized myVRS Financial Wellness program aims to help VRS members make informed and educated decisions on everyday financial matters while saving for the future. Through their secure myVRS accounts, employees can find tools, tips and time-savers in a variety of formats designed with their needs in mind.

3. Promote VRS Benefits Awareness

Beyond saving and retirement, VRS administers a variety of benefits that play big roles in how members plan for the future. Our Education and Counseling resources will help them understand more about topics like health insurance credit, purchasing prior service or hazardous duty benefits.

VRS counselors are available in person, by phone or virtually to help active and retired members at every stage.