Key resources to educate participants on the importance of saving for retirement.
Direct Employees to Their Online Accounts
Communicate to employees the importance of registering and claiming their online accounts through Account Access.
Instruct Employees to Designate a Beneficiary
Emphasize the importance of designating beneficiaries for all defined contribution plans. Beneficiaries must be designated separately for each plan. Employees can log in to their account and complete online.
Take Advantage of Counseling Resources
Contact MissionSquare Retirement to schedule a meeting with a DC Plans Specialist to help your employees learn more about the defined contribution plans.
Participation in a VRS Defined Contribution Plan is not required to connect with a CERTIFIED FINANCIAL PLANNER™. All members and retirees may take advantage of these services.
Update Wage Employee Information
Wage/hourly part-time employees can enroll in the Commonwealth of Virginia 457 Deferred Compensation Plan. Direct wage/hourly employees to the Wage/Hourly Participant Enrollment form to participate.
Employers must provide MissionSquare Retirement with their wage/hourly employee separation dates through EZLink. For access to EZLink, complete the EZLink Access form.
Employees who work for more than one VRS-participating employer can defer contributions from both employers to the Commonwealth of 457 Deferred Compensation Plan.
ORP Participants: Leaving Employment
To be eligible for health insurance credit upon leaving employment, ORP participants must:
- Have a minimum of 15 years of service, and
- Meet the age and service requirements for reduced or unreduced retirement under the VRS plan (i.e., Plan 1, Plan 2, or Hybrid Retirement Plan) for which the employee would have been eligible, based on hire date, had the employee not elected ORP.
To be eligible for group life insurance coverage upon leaving employment, if applicable to the employer, ORP participants must:
- Meet age and service requirements for reduced or unreduced retirement under the VRS plan (i.e., Plan 1, Plan 2, or Hybrid Retirement Plan) for which the employee would have been eligible, based on hire date, had the employee not elected ORP.