Financial capability is the ability to manage money confidently—day to day and through major life events. It’s built on three core skills: managing personal finances, budgeting and investing.
During Financial Capability Month, employers have a timely opportunity to encourage employees to strengthen these skills and take steps toward a more secure financial future.
VRS offers tools and support that address the money questions employees face at every stage of life.
myVRS
myVRS is a secure online portal that helps members plan for retirement throughout their working careers.
Key planning tools include:
- Retirement Planner: A goal-based tool that projects income and expenses in retirement and helps members assess their readiness.
- Benefit Estimator: An interactive tool that lets members explore different retirement scenarios and estimated monthly benefit amounts.
myVRS Financial Wellness
myVRS Financial Wellness gives members a complete view of their personal finances through a free, award-winning program designed to build confidence in everyday money decisions.
The program includes:
- Self-paced articles and videos.
- Budgeting tools and calculators.
- Educational games, webinars and online courses.
All resources are designed to help employees build practical skills they can use right away.
Education and Counseling
You can also point employees to VRS Education and Counseling for:
- Live and recorded webinars on benefits and retirement planning.
- One-on-one counseling appointments, available both virtually and in person.
Financial Planning Services
VRS members can access financial planning services provided through Voya, the third-party record keeper for VRS Defined Contribution Plans.
Employees can speak with a financial professional from Voya’s Be Ready team to:
- Discuss personal financial goals.
- Get guidance on retirement planning and financial wellness.
These conversations are provided at no cost to the member. However, members also can get a personalized and comprehensive financial plan, which requires multiple planning sessions, for an additional fee of $175 per financial planning analysis.
Participation in a VRS Defined Contribution Plan is not required to use these financial planning services.
