MBPs Offer a Retirement Strategy Checkup
Member Benefit Profiles (MBPs) are available in members’ myVRS accounts.
Based on information employers submitted to VRS as of June 30, these annual statements provide a snapshot of each employee’s account balance, retirement eligibility and other key benefits. The MBP also projects future retirement income and compares it to the 80% income-replacement benchmark recommended by financial experts—offering tips to help close any potential gap.
Employees can use the MBP and other retirement planning resources available in myVRS to sharpen their retirement plans and generate more comprehensive estimates of their income in retirement.
Encourage employees to register their myVRS accounts as soon as possible. myVRS Accounts not registered 90 days after hire date are locked for security purposes. To unlock their accounts, employees should call 888-827-3847.
More Resources
The Member Benefit Profile webpage includes tips on how to look up and print MBPs for your employees who lack access to a computer. You’ll also find sample messaging you can use in emails encouraging employees to use the MBP to fine-tune their retirement forecast.
Questions?
If you have questions, contact VRS Employer Support or call 888-827-3847.
