Information central to help you administer VRS benefits.
Resources and links to assist with GASB and other financial reporting related to VRS-administered benefit plans, including fiscal year-end reminders.
Help members understand their VRS retirement plan provisions.
Help members understand their VRS retirement member benefits.
Timely submission and posting of payroll contributions is a top priority as Voya moves forward as the new DCP record keeper.
Submitting contributions in a timely manner ensures that funds are invested for the member’s benefit.
It’s important to set a process for how you generate, review and reconcile monthly snapshots. Follow these steps.
Voya is gathering payroll data this summer to prepare for the record keeper transition.
Need help with new hybrid plan administration changes? Register for one of our upcoming virtual help sessions.
You now administer the defined contribution and defined benefit portions of the plan as separate and independent components.
You may be able to make corrections through payroll for errors that fall under the $50 threshold.
After July 1, you will no longer reconcile the defined contributions for hybrid plan members with your monthly VRS snapshot.
Monthly snapshots will change, so make sure you consider any impacts on your internal processing.
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