Summer is peak retirement season. As application volume increases, these tips can help you keep retirements moving smoothly.
Certify Retirements as You Receive Them
Certify all retirements through myVRS Navigator as soon as you receive them — even if the retirement date is in a future month. Benefit payments cannot begin until certification is completed.
To get started:
- Go to Organization and select Retirement Certification.
- You will see a display of all retirements awaiting certification.
- Use bulk certification to save time when processing multiple retirements.
Online Retirement Is the Best Option for Most Employees
Encourage employees to register for and use myVRS, where they can securely view, plan, track and manage their retirement and financial information in one place.
Eligible members can complete their retirement application online in as little as 30 minutes through myVRS. The online process includes built-in counseling tools and step-by-step guidance to support informed decisions.
- Members who are eligible will see an Apply Now button under Apply for Retirement in the Manage My Benefits menu.
- If the Apply Now button does not appear, the member completes a paper retirement application. You must complete the employer sections and submit certification once the application is received. In these cases, encourage employees to get additional assistance by booking a counseling appointment with VRS (see resources below).
Counsel Employees on the Retirement Process
Employers play a vital role in helping employees prepare for retirement, especially when it comes to employer-specific benefits. In addition, VRS provides the following helpful resources:
- Service Retirement Checklist for Employers to guide employee counseling.
- Retirement Readiness Checklist for Members to share with the retiring member.
- One-on-one member counseling appointments with VRS counselors.
- Getting Ready to Retire Guide for members.
- Voya Financial’s local DC plan education specialists for defined contribution plan questions.
