Defined Contribution Plans: Employer Resource Center <span class="secondaryTitle">| Retirement Solutions Made Simple</span>

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    Human Resources

    Key resources to educate participants on the importance of saving for retirement.

    Direct Employees to Their Online Accounts

    Direct Employees to Their Online Accounts

    Communicate to employees the importance of registering and claiming their online accounts through Account Access.

    Instruct Employees to Designatea Beneficiary

    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

    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

    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.

    Dual Employment

    Dual Employment

    Employees who work for more than one VRS-participating employer can defer contributions from both employers to the Commonwealth of 457 Deferred Compensation Plan.

    • Primary Employment: Make deferral changes online OR call 877-DC-PLAN1 (877-327-5261, option 1).
    • Secondary Employment: Complete the Payroll Authorization Dual Employment form. The employer must sign and submit the completed form to MissionSquare Retirement.
    ORP Participants Leaving Employment

    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.

    Log in to EZLink to order publications, run reports and process contribution submissions.

     

    EZLink

      Remind employees to make deferral changes each month for the Commonwealth 457 Plan.

      Employees must request a change before the 4 p.m. deadline on the last business day of the month which will be effective the following month.