Announcements
Find Your Updated Plan Handbook on the Publications Page
Updated VRS member handbooks and guides reflecting the latest legislative and administrative changes are now available on the VRS website. With the exception of the VRS Member Guide, you can recycle older print versions of VRS handbooks and guides you may have. They are no longer valid. Issue dates are found on the back cover of VRS publications.
Coming Soon: Your Member Benefit Profile
Your 2024 Member Benefit Profile (MBP) will soon be available in myVRS. Watch for an announcement on the VRS website.
What is it? Your MBP is an annual benefit statement based on information your employer reports to VRS as of June 30, 2024. It shows your:
- Account balance information.
- Retirement eligibility dates.
- Projected VRS benefit amount at your earliest reduced and unreduced retirement age.
- Eligibility for other benefits, such as group life insurance and the health insurance credit.
Why does it matter? Reviewing your MBP gives you an opportunity to assess and refocus your retirement goals.
Are you on track with your savings? Can you afford to retire earlier than expected, or are there benefits to working longer? Used in conjunction with tools like the myVRS Benefit Estimator and the myVRS Retirement Planner, your MBP can kickstart your future planning.
Use Benefit Scout to Determine Optional Life Insurance Needs
Securian Financial offers Benefit Scout®, an online tool to help you choose the right amount of VRS optional group life insurance coverage to meet your needs.
If your employer offers the group life insurance benefit, you can access the tool and more on the updated optional life insurance education website. You’ll also find information about coverage options, rates, beneficiary designations and the process for answering health questions.
With Life Insurance Awareness Month just ahead in September, take time to evaluate your coverage options.
Reminder: DCP Record Keeper Changing to Voya
VRS named Voya Financial as the third-party record keeper for the VRS Defined Contribution Plans (DCP) with the transition taking place on January 2, 2025. MissionSquare Retirement is the current record keeper and has served in this capacity since January 2014.
Participant account details, investments, contribution elections and beneficiaries will automatically transition to Voya. However, there will be a few changes and actions you need to take, such as registering your account with Voya in early 2025. If you participate in a VRS DCP plan, ensure your mailing address is up to date in myVRS and DCP Account Access since you will receive transition-related items by mail in the coming months.
