Resource Center for VRS Employers: Hybrid Retirement Plan: Defined Contribution Component

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    Human Resources

    In five easy steps, discover how to administer the Hybrid Retirement Plan and educate members on the importance of saving for retirement

    Direct Employees to Their Online Accounts

    1. Update myVRS Navigator and Direct Members to Their Online Accounts

    Enroll new hires in myVRS Navigator and keep employee data current.

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

    Instruct Employees to Designate a Beneficiary

    2. Instruct Employees to Designate a Beneficiary

    Emphasize the importance of designating beneficiaries for both the defined benefit and defined contribution components of the Hybrid Retirement Plan. Beneficiaries must be designated separately for both components. See Designating a Beneficiary for more information.

    Discover

    3. Help Employees Discover Ways to Save for Their Future

    Start your new members on the right path to saving more for their retirement by using the Voluntary Contributions Toolkit.

    Take Advantage of Counseling Resources

    4. Take Advantage of Member Counseling Resources

    Use the following member resources to help orient new hires and to educate and counsel Hybrid Retirement Plan members:

    ORP Participants Leaving Employment

    5. Educate Your Members

    Log in to EZLink to process contribution submissions and run reports.

     

    EZLink

      Starting Your Hybrid Plan Adventure

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        Make It Easier to Save More

        Looking to ease your administrative burden and offer employees additional saving opportunities? Consider adopting the Commonwealth of Virginia 457 Deferred Compensation Plan.

        Learn More