VRS Transitions to New Record Keeper for 457 Plan

In January 2014, VRS will change record keepers from ING to ICMA-RC for the Commonwealth of Virginia 457 Deferred Compensation Plan. ICMA-RC was founded in 1972, serving approximately 9,000 public-sector plans and more than 1 million participant accounts, with $46 billion in assets. ICMA-RC currently serves more than 140 political subdivision employers in Virginia. Visit http://www.icmarc.org for more information.

During the transition’s blackout period from December 31, 2013, to on or around January 10, 2014, participants may review their accounts by going online or by calling ING at 1-877-327-5261. However, participants will not be able to conduct transactions such as fund transfers or withdrawals. Funds will remain invested throughout the period and the review-only function on the website will reflect daily changes in market value of each account.

Participants do not need to take any action during this record keeping transition. The changeover will be handled electronically. There is no need to re-enroll or make any changes to accounts and investment options will remain the same. Once the transition is completed, ICMA-RC will provide details on how to create a new ID and password.  Additional information about the transition to ICMA-RC can be found at http://www.varetirement.org/dcptransparticipant.html.

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