Category: Pension VRS Sets Rates for Localities, VLDP and Line of Duty Act December 2023 Overall, the defined benefit rate will increase less than 1% for most political subdivision employers based on 2023 valuations. Key Steps to Prepare for Hybrid Plan Rate Separation November 2023 Act now to make sure your budgeting, payroll and reporting processes are ready for rate separation. Board Certifies FY 2025-2026 Rates for Statewide Plans and OPEBs November 2023 The funded status of the five statewide retirement plans remains stable, and some contribution rates will decrease. Preview: VRS Board to Certify Contribution Rates This Fall October 2023 The VRS board will certify FY 2025-2026 rates for statewide retirement plans and other post-employment benefit plans. Planning Ahead for SECURE 2.0 July 2023 VRS is reviewing how new federal legislation may affect payroll processes, business rules and overall plan administration. Start Planning for Separation of Hybrid Plan Employer Rates in 2024 April 2023 VRS will simplify how Hybrid Retirement Plan contributions are calculated and paid, beginning July 1, 2024. Secure 2.0 Act Brings Changes to Retirement Plan Administration April 2023 One big change under the Secure Act 2.0 is an increase in the required minimum distribution age from 72 to 73. Informational Actuarial Valuations Help With Budgeting March 2023 Informational valuations provide key information about your plan’s funded status and emerging trends in contribution rates. Informational Actuarial Valuations Coming Soon for Political Subdivisions January 2023 VRS will provide informational actuarial valuations for pensions and the health insurance credit to participating political sub... 1 2 > >>