News and Announcements
2024 Legislative Update
For a summary of new laws enacted by the 2024 Virginia General Assembly session that affect VRS benefits, see the Legislative Summary.
Reminder: VRS Transitioning to New DCP Record Keeper
After a request for proposals (RFP) conducted last year, 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.
VRS Welcomes New and Reappointed Board Members
The Virginia General Assembly recently appointed two new members to the VRS Board of Trustees:
Lawrence Bernert is senior managing director of the Norfolk-based investment advisory firm Clearstead Advisory Solutions. He’s been with the firm since 1995. Bernert is a board member and has served as chairman of the Children’s Hospital of the King’s Daughters Foundation, and is a trustee of the Jamestown-Yorktown Foundation.
Matthew James is the founder and CEO of MJames Consulting LLC. James has more than 35 years of experience in financial management and oversight, private- and public-sector regulations, and economic development. He has held government leadership positions at the local, regional and state level, including 10 years as a member of the Virginia House of Delegates representing parts of Hampton Roads.
Gov. Glenn Youngkin reappointed Susan Gooden, Ph.D., who serves as dean and professor of the L. Douglas Wilder School of Government and Public Affairs at Virginia Commonwealth University. Gooden joined the board in 2020.
Nine members serve on the VRS Board of Trustees. Their appointment is shared between the executive and legislative branches of state government.
Read more about VRS Leadership.
VRS Counseling Center to Relocate for Improved Access
The VRS Retirement Counseling Center, currently in downtown Richmond, will move to Henrico County later this year. The new space offers convenient parking with proximity to public transportation, allowing VRS to better serve members and retirees who seek in-person counseling. VRS’ administrative and investment offices will remain downtown.
Check the VRS website for details on this move as they become available.
Check Out VRS’ YouTube Channel
Stop by VRS’ new YouTube channel. Subscribe and stay tuned for new content throughout the year.
