Category: Legislation

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Key Reminders About Hybrid Retirement Plan Rate Separation

August 2024

Need help with new hybrid plan administration changes? Register for one of our upcoming virtual help sessions.

Two halves of a sphere that has cracked jaggedly through the middle. On the left half is text saying defined benefit, and on the right is text reading defined contribution.

Two Components of Hybrid Retirement Plan Now Managed Separately

July 2024

You now administer the defined contribution and defined benefit portions of the plan as separate and independent components.

A photograph of the capitol building and legislative chambers of the Commonwealth of Virginia, USA, designed by Thomas Jefferson.

Which New Laws Affect VRS?

May 2024

Our legislative summary covers the 2024 laws enacted that affect VRS-administered plans and benefits.

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Countdown to Hybrid Rate Separation: Are You on Track?

May 2024

After July 1, you will no longer reconcile the defined contributions for hybrid plan members with your monthly VRS snapshot.

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How to Ensure You’re Fully Prepared for Hybrid Rate Separation

April 2024

Monthly snapshots will change, so make sure you consider any impacts on your internal processing.

a woman in a hospital bed and a man standing next to her smile broadly at a woman in front of them.

Health Insurance Credit Increases for Some Retirees on July 1

March 2024

Recent legislation boosts the health insurance credit for retired constitutional officers, their employees and state employees.

A laptop computer on a desk showing the snapshot comparison spreadsheet on the screen, a ceramic cup of coffee and text reading snapshot before and after

What Will Your Snapshots Look Like After Hybrid Rate Separation?

March 2024

Starting this month, VRS will provide Snapshot Comparison reports previewing how your snapshot will look after rate separation.

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Announcements

March 2024

Track Legislation; Download Rate Letters and Valuations; Register for Training; HIC Forms Updated; GASB Reports Available

Two halves of an oval labeled Defined Benefit and Defined Contribution are split down a jagged seam by text that reads July 2024.

Snapshot Comparison Tool Will Help You Prepare for Rate Separation

February 2024

Use these new reports to help visualize how your snapshot will look after hybrid plan rate separation takes place July 1.