Know How to Manage Your Defined Contribution Plans Under Voya Financial
Voya Financial is now the record keeper for the VRS Defined Contribution Plans, which includes the Hybrid Retirement Plan defined contribution component, the Commonwealth of Virginia 457 Deferred Compensation Plan and the Virginia Cash Match Plan 401(a), among others. If you are a VRS Plan 1 or Plan 2 member who does not participate in VRS Defined Contribution Plans, you will not have a DCP account with Voya.
Use the new DCP website and mobile app to manage your account(s). Here’s what you need to know:
Set Up Your Online Account
If you haven’t already, register your DCP Account with Voya. For first-time users, a Personal Identification Number (PIN) may be required.
You’ll need a PIN if:
- You’re a new hire.
- You didn’t have an account with the previous record keeper, MissionSquare Retirement.
- Your email address was invalid in the MissionSquare system.
PINS were mailed in late December. If you didn’t receive one, contact Voya at 877-327-5261.
You won’t need a PIN if you already had an account with MissionSquare. You’ll authenticate your identity during the registration process.
Monthly Voluntary Contribution Changes
Hybrid plan members now have greater flexibility with changes to voluntary contributions. Previously limited to quarterly changes, you can now adjust your contribution amounts monthly.
To make a change:
- Update your contributions in your DCP Account before 4 p.m. on the last business day of the month.
- Changes will take effect in the next month’s pay cycle.
Monthly change flexibility means your contributions can start growing sooner.
Access Voya Resources
Explore the interactive tools and resources Voya offers to help you stay on track with your savings goals.
- View a recorded webinar to review details about the transition to Voya.
- Manage your DCP Account: Check balances, view investments and update contribution levels through the user-friendly website or mobile app.
- Discover educational resources: Access financial planning tools, articles and webinars tailored to help you make informed decisions about your future.
