With fiscal year-end less than two months away, now is the time to prepare for required reporting, snapshot confirmation and payment activities tied to VRS benefits administration.
Reviewing internal processes, flagging potential changes and bookmarking key resources now helps reduce reporting errors, payment delays and follow-up from VRS near fiscal year-end.
Your Go-To Resource
VRS maintains a Fiscal Year‑End Reminders webpage that outlines important processing tasks that typically occur in June and July, along with helpful guides and reminders.
As fiscal year‑end approaches, this webpage will become your central reference point for deadlines and instructions.
Three Areas to Keep on Your Radar
Make note of three time-sensitive tasks most employers will need to address:
1. June Reporting and Snapshots
Confirm June snapshots and schedule payments promptly once all monthly activity is finalized. This includes reviewing compensation and contributions, especially for employees subject to IRS limits.
See the Contribution Confirmation and Payment Scheduling chapter of the VRS Employer Manual.
2. Salary Updates
Report salary changes to VRS so contributions are collected correctly beginning July 1.
3. Employee Contract Details
Fiscal year-end is often when contract information is reviewed and updated. Make any needed changes during the 10-day window between snapshot confirmation and automatic contract renewals.
More Reminders Coming
Starting in June, VRS will share more detailed reminders, deadlines and how-to resources to support your reporting and payment activities.
If you require assistance on year-end reporting tasks, contact VRS Employer Support.
