Announcements
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New Higher Ed Faculty Must Select a Retirement Plan
Incoming faculty members who are eligible to elect coverage under the Optional Retirement Plan for Higher Education (ORPHE) must choose their retirement plan within 60 days of their start date. If they do not choose a plan within their election window, they will be covered under the Hybrid Retirement Plan or the applicable VRS defined benefit plan if they have previous service.
Once you enroll employees as new hires in myVRS Navigator, VRS will send a letter instructing them to log into or create an account in myVRS to compare options and then choose a plan. It’s good practice to remind employees to evaluate their options and make a retirement plan choice in myVRS. Their choice is irrevocable.
The Employers section on the ORPHE website includes instructions for acknowledging participants’ elections.
Financial Reporting: GASB Data Coming Soon
VRS is preparing financial reporting information necessary for fiscal year 2025 that ended June 30. Look to the Financial Reporting section of the VRS employer website in the coming weeks for resources to assist you.
Benefit Series Courses
Benefits Series courses offer a more in-depth look at VRS benefit offerings. These courses are intended to give employers the context and details they need to administer and counsel their employees on specific VRS benefits.
In August and September, VRS will cover the following:
- Understanding Contributions – 10-11 a.m. Thursday, August 7
- Understanding the Hybrid Retirement Plan – 2-3 p.m. Thursday, August 21
- Disability Retirement – 2-3 p.m. Thursday, September 4
- Service Retirement – 10-11 a.m. Thursday, September 18
