Online Retirement Launching for Eligible VRS Members

June 1, 2021 / HR News/Training

Starting this summer, many VRS members will have the ability to retire online through their secure myVRS accounts, rather than filling out a paper application.

If you’re planning to retire in the coming year, the first step is to register your myVRS account if you’ve not already done so. From your account, you can access retirement counseling information, videos and step-by-step guidance at key decision points. Be sure to notify the Benefits Team in HR that you plan to retire, so that you can receive additional counseling and be informed of other important benefits related to your retirement.

The online retirement process will take about 30 minutes. Should you need support, you can stop at any point, save your work and contact a VRS member counselor for assistance.

Some members will not initially have access to retire online, including members with:

  • Hazardous duty service
  • Long-term disability service in their record or who are retiring on disability
  • An Approved Domestic Relations Order (ADRO) on file
  • Ongoing purchase of prior service agreements

Members in these situations can complete the Application for Service Retirement (VRS-5)  or the Application for Disability Retirement (VRS-6)  and associated forms.

Along with online retirement, additional myVRS self-service features are launching in July and August:

  • Beneficiary management: Update your beneficiaries online instead of submitting the Designation of Beneficiary (VRS-2)  paper form. This includes updating beneficiaries for your VRS defined benefit member account and group life insurance benefits. Members and retirees with defined contribution accounts will continue to update beneficiaries through Account Access.
  • Accessing survivor benefits: Members receiving survivor benefits based on another VRS member’s account will automatically be able to view their survivor benefits using their personal myVRS account.

After you retire, you will have access to additional online features to help you manage direct deposit of your retirement benefit and report health insurance premiums if you are eligible for the health insurance credit. With the introduction of these new features, VRS is making more member services available online through your secure myVRS account. If you haven’t visited myVRS lately, take time to register or log in to explore the Benefit Estimator, Retirement Planner and myVRS Financial Wellness—services designed to help you at every stage of your career.

Important Note:  Employees who have already submitted service retirement applications need not also apply online.  Existing paper retirement forms will be processed. 

Submitted by:
Charlotte Calobrisi, AVP HR, CCalobrisi@nvcc.edu