Hybrid Retirement Plan Members Reminded to Take the ‘SmartStep’

The SmartStep feature helps hybrid plan members save more for retirement with automatic, annual increases to their voluntary contributions.

How it works: The member chooses an annual increase amount and which month the increase will occur: January, April, July or October. The member’s voluntary contribution will increase each year until it reaches the maximum 4%.

How to take the SmartStep: Members should log into Account Access and select their Hybrid 457 plan account. From the Contributions page, the member will enter an amount for SmartStep. Members also can use the Hybrid Member Paycheck Calculator to see the impact of contributions and other deductions on their paychecks.

Not sure of your retirement plan designation?  Register for full access to your retirement account through myVRS.