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Modernization Frequently Asked Questions

Topics


Systems Requirements

  1. What version of Windows or type of internet browser will I need to access myVRS Navigator?
  2. Do I need special software to use myVRS Navigator?
  3. Who at VRS can my human resource or payroll software vendor speak to about preparing for implementation?
  4. What is my IT department supposed to do with the systems requirements information?
  5. Am I obligated to keep up with changes to the optional data fields?

What version of Windows or type of internet browser will I need to access myVRS Navigator?

myVRS Navigator is a Web-based technology that can be accessed from any computer that can connect to the Internet, regardless of the computer’s operating system or internet browser. The systems referred to in “systems requirements” are your payroll/finance and human resource systems, which will require a new file layout if you plan to submit data via a batch process.

Do I need special software to use myVRS Navigator?

No additional software is necessary. myVRS Navigator is a Web-based technology and is replacing the current reporting methods. You will enter data directly into myVRS Navigator or you have the option to upload files of data.

Who at VRS can my human resource or payroll software vendor speak to about preparing for implementation?

Your vendor can contact modernization@varetire.org or 1-888-VARETIR (1-888-827-3847).

What is my IT department supposed to do with the systems requirements information?

If you plan to submit employee data to VRS via batch files, your IT department will need the information on systems requirements to program your information technology systems. If you are going to report online, your IT department can use the information to determine the source of the data you will submit.

Am I obligated to keep up with changes to the optional data fields?

Eleven fields in the enrollment and maintenance batch file layout for myVRS Navigator are optional. They are name prefix, middle name, name suffix, citizenship, marital status, email address, address line 2 and zip end, plus three open fields that can be used for whatever an employer wants. Employers are not required to use or maintain these fields; however, some (such as email address and marital status) enable VRS to customize communications to your employees so we encourage you to take advantage of these features. In the future, employees will be able to log in to their accounts and update some of these fields themselves.

Online Reporting

  1. What is online reporting?
  2. If I report employees online, how will I update their information each month?
  3. If an organization decides to report online initially, will there be future opportunities to switch to batch reporting?

What is online reporting?

Online reporting means you will use myVRS Navigator to:

  • Enroll new employees,
  • Submit changes for existing employees,
  • Make a change for a group of employees, such as a salary change, with a single entry,
  • Download summaries of your data, and
  • Confirm the contributions you owe. (myVRS Navigator will calculate the contributions based on the data you have entered.)

Online reporting eliminates the need to program file extracts from your human resources or payroll systems. And, you can access myVRS Navigator from any computer with an Internet connection. The alternative is combination online and batch reporting.

Remember that in the future, you will submit only new employee enrollments and any changes for existing employees. By submitting only information that changes during the month, reporting your employees to VRS in the future will be more efficient.

If you have not already done so, your human resource, payroll/finance and IT department (or third-party vendor) should consider these options carefully and choose one that will best serve your organization’s needs. Send your selection to modernization@varetire.org.

If I report employees online, how will I update their information each month?

You will enter data changes, such as salary and employment status changes, for your employees directly into myVRS Navigator. Simply search for and open the employee’s record, enter the new information and click submit. The employee’s record will be updated after you confirm your contributions for that month.

If an organization decides to report online initially, will there be future opportunities to switch to batch reporting?

Yes. VRS will offer another certification opportunity for online-only organizations who decide after implementation that they also want the option to submit batch files. Look for information about a second batch certification process after myVRS Navigator launches.

Combination Online and Batch Reporting

  1. What is combination online and batch reporting?
  2. If I plan to report via batch file, what is the layout of the file you will accept?
  3. If my organization reports to VRS using more than one employer code and I submit via batch, will I have to send separate files for each employer code?
  4. What is batch certification?
  5. When is my batch file due for certification?
  6. Can I report data about an employee’s spouse via batch?

What is combination online and batch reporting?

With combination online and batch reporting, you have the flexibility to report online and to submit large quantities of enrollments or changes using a batch file upload. A batch file is a file you create through your human resource or payroll system that reflects all data changes you have made in your system since the last batch file. You then upload it to the myVRS Navigator system. After you resolve any edits needed, you confirm the contributions due for the month and remit payments. If you wish to use a batch file upload, you may need to re-program your HR and/or payroll systems to VRS’ specifications. See the Person Batch Data File Layouts of the Systems Requirements pdf icon264kb.

Remember that in the future, you will submit only new employee enrollments and any changes for existing employees. By submitting only information that changes during the month, reporting your employees to VRS in the future will be more efficient.

If you have not already done so, your human resource, payroll/finance and IT department (or third-party vendor) should consider these options carefully and choose one that will best serve your organization’s needs. Send your selection to modernization@varetire.org.

If I plan to report via batch file, what is the layout of the file you will accept?

Batch file specifications were provided to employers in Fall 2010 as part of the Systems Requirements pdf icon264kb. The batch file layout is sensitive information housed on a secure VRS website, https://partners.varetire.org. Use your individual log-in credentials to access the secure FTP site and retrieve the batch file layouts. If you do not know your log-in credentials, please contact modernization@varetire.org.

If my organization reports to VRS using more than one employer code and I submit via batch, will I have to send separate files for each employer code?

No. You will report multiple groups in one batch file. The batch file layout includes a field for employer code.

What is batch certification?

Batch certification ensures that an organization’s file can be successfully read by myVRS Navigator after implementation. Only employers planning to submit data via batch file upload will participate in batch certification. These employers will submit batch files programmed to match specifications VRS provided in 2010. Look for more information in 2012. To request the specifications, contact modernization@varetire.org.

When is my batch file due for certification?

VRS will announce a due date for certification of batch files later this year and will contact all employers who plan to submit via batch with the specific dates.

Can I report data about an employee’s spouse via batch?

You will submit spousal information, such as name and birth date, online directly into myVRS Navigator; this information cannot be submitted via batch file. After the second component of myVRS Navigator is launched, your employees will be able to log into their accounts and update this information themselves.

Choosing a Reporting Method

  1. How do I determine if online or batch submission will be better for us?
  2. Do we need to notify VRS again about our reporting selection?
  3. What other options are available for reporting besides myVRS Navigator?

How do I determine if online or batch submission will be better for us?

Estimate the time required for your IT department to develop the batch file and compare that to the time it might take your staff to enter online updates each month. Keep in mind that less data will be required in the future since you only need to provide data for new employees or changes. VRS encourages employers with fewer than 500 employees to report online. If you try the online process initially and later decide that reporting batch would be more efficient, you can go through certification for batch submittal.

Do we need to notify VRS again about our reporting selection?

If you previously have sent to modernization@varetire.org the reporting method you will use in the future, you do not need to resend this information. VRS maintains a record of the reporting method each employer has sent in and will use this to send future communications.

What other options are available for reporting besides myVRS Navigator?

myVRS Navigator will replace myVRS for Employers and other tools that you currently use to provide data to VRS. All employers will use myVRS Navigator to submit enrollments, employment changes and other data to VRS. You may enter data online directly into myVRS Navigator, or you may submit a batch file with multiple changes (requires certification).

Enrolling New Employees

  1. Why is citizenship requested?
  2. Why is the spouse’s information needed?
  3. Will I be able to change the internal identification number from a new employee’s previous employer?
  4. Can I set a probationary period for new employees in myVRS Navigator?
  5. Will myVRS Navigator automatically assign Plan 1 or Plan 2 membership at enrollment?
  6. How does myVRS Navigator accommodate enrolling a new faculty member who has 60 days to choose a retirement plan?
  7. How will I send beneficiary designations to VRS?

Why is citizenship requested?

Providing citizenship enables myVRS Navigator to apply the appropriate tax treatment to benefit payments.

Why is the spouse’s information needed?

Marital information allows myVRS Navigator to alert employees to optional benefit programs available for family members. For example, eligible employees can cover spouses and children in the Optional Group Life Insurance Program. If an employee applies for this coverage within 30 days of employment or a qualifying event, coverage is guaranteed. myVRS Navigator will alert employees to this benefit and remind them of the deadline to apply.

Will I be able to change the internal identification number from a new employee’s previous employer?

Yes. When you enroll a new employee with an existing record in myVRS Navigator, you can update many of the available data fields, including the employer internal identification number. You will not be able to change the employee’s Social Security number, birth date and VRS Customer ID.

Can I set a probationary period for new employees in myVRS Navigator?

When you enroll a new employee, you can set a date for coverage to start. The coverage start date can reflect the end of the probationary period.

Will myVRS Navigator automatically assign Plan 1 or Plan 2 membership at enrollment?

Yes. myVRS Navigator will determine the retirement plan for each new eligible employee using the date the employee is enrolled and whether the employee has an existing member contribution or optional retirement plan (ORP) account with VRS.

How does myVRS Navigator accommodate enrolling a new faculty member who has 60 days to choose a retirement plan?

Enroll faculty the same as other employees at the start of employment. If the faculty member later elects the Optional Retirement Plan for Higher Education (ORPHE), submit the election to myVRS Navigator. Look for more information on submitting this information during training. An employee must elect the ORPHE within 60 days of first becoming employed in an eligible position; otherwise, the employee will be covered by the VRS defined benefit plan.

How will I send beneficiary designations to VRS?

Continue to submit designations using a Designation of Beneficiary (VRS 2) pdf icon 51kb as you do now. This will change when the second component of myVRS Navigator launches. The second release includes many new features for members and retirees, including online designation of beneficiaries.

Updating Existing Employees

  1. Will I report all employees every month like I do now?
  2. I don’t currently report to VRS when employees terminate. Will this change?
  3. Can I use myVRS Navigator to report the death of an employee to VRS?
  4. I need to make a change (such as a salary change) that affects a large number of employees. Do I have to enter these manually?
  5. What is the difference between retroactive adjustments and corrections?
  6. Will I be able to run ad-hoc reports?
  7. How will I add new required data to existing employees’ records?
  8. How will I add new optional data such as spouse’s name and birthday to existing employees’ records?
  9. How will I report salary changes to VRS?

Will I report all employees every month like I do now?

After myVRS Navigator is implemented, you will only report enrollments or updates for already enrolled employees. Updates include changes to an employee’s name, address, salary, job name and employment status (such as leave without pay or termination). myVRS Navigator will calculate your monthly contributions using this new information and the information on file.

If you do not have any new hires or employee changes to report in a particular month, you only have to confirm the contributions myVRS Navigator calculates and schedule your payment.

I don’t currently report to VRS when employees terminate. Will this change?

Employee termination, or separation, is an employment change that you will submit using myVRS Navigator. You may submit terminations online or via batch upload. Instructions for submitting employment changes will be available during training.

Can I use myVRS Navigator to report the death of an employee to VRS?

The second component of myVRS Navigator will allow employers to report an employee death online. Until then, continue to notify VRS by telephone.

I need to make a change (such as a salary change) that affects a large number of employees. Do I have to enter these manually?

If you are reporting online, you have the ability to enter a mass change. Mass changes apply the same change to more than one employee. If you are reporting via batch, apply the change in your payroll or HR system and use the batch file to upload the changes to myVRS Navigator.

What is the difference between retroactive adjustments and corrections?

A retroactive adjustment has a defined start date but no end date. A correction has a defined start and end date.

  • Example 1

    An employee’s salary changes January 1, 2011 and the employer reports the change to VRS in May 2011. The employer has not reported any other salary changes for this member since January 1, 2010. The start date of the change is January 1, 2011 and the end date is open. Therefore, the change is a retroactive adjustment.

  • Example 2

    An employee receives a salary increase from $40,000 to $42,000 in January 1, 2010, but the change is not reported to VRS until May 2011. The employee’s record shows a more recent salary change to $44,000 was effective January 1, 2011. The end date of the $42,000 salary is December 31, 2010, when the $44,000 salary went into effect. Therefore, the change is a correction.

If you will submit the change via batch

Submit retroactive adjustments using the enrollment and maintenance batch file layout. Submit corrections online using myVRS Navigator. As most employers make few corrections each month, submitting corrections is a low-volume transaction. Choosing to enter corrections online saves you time and resources because you will not have to develop and test a second file layout prior to implementation.

If you will submit online only

Enter the change with the appropriate start date and end date, if available. You do not need to designate whether a change is a retroactive adjustment or a correction.

For additional information about and examples of retroactive adjustments and corrections, please refer to Understanding Modernization’s New Calculations pdf icon 279kb.

Will I be able to run ad-hoc reports?

You will have access to a variety of pre-defined reports in myVRS Navigator and can manipulate the parameters of those reports. If those reports do not meet your needs, you can export data to Excel to create others.

How will I add new required data to existing employees’ records?

VRS will coordinate loading new required data elements into myVRS Navigator with employers prior to implementation. In some cases, you will be asked to supply information, such as internal employee ID numbers if you choose to use them. In other cases, such as with job names, VRS will derive data currently in our database and ask you to confirm it before we upload it to myVRS Navigator. You will receive more information on providing or confirming data in the future.

How will I add new optional data such as spouse’s name and birthday to existing employees’ records?

You can update the optional fields when convenient for you. After the second component of myVRS Navigator is launched, your employees will be able to log into their accounts and update some information themselves.

How will I report salary changes to VRS?

You will submit salary changes online directly into myVRS Navigator. If you are certified to submit batch files, you also have the option to report salary changes via batch upload. Since every change requires a date the change goes into effect, you can submit changes in advance (up to 60 days) or after the fact.

Job Names

  1. What are the “job names” VRS will require for employees after Modernization?
  2. What do I do with the list of job names?
  3. If I don’t see a job name that applies to an employee, can I add a new job name?
  4. Do "job names" apply to political subdivision employees?

What are the “job names” VRS will require for employees after Modernization?

“VRS job name” is a new data field VRS will use when myVRS Navigator is implemented. Job names are VRS-defined categories. In most cases, they will differ from the position names or titles you use for your employees.

  • The “Employee” job name includes most general employees, such as laborers, sanitation workers, public relations officers, utility foremen and building inspectors. “Employee” is the default job name and is used when an individual does not fall within any other category on your organization’s specific list of job names.
  • Some job names are based on plan-specific benefits provided by the Code of Virginia. These replace the special coverage indicators (such as for enhanced benefits) that you use now to identify members eligible for particular benefits. Examples include “Police Officer” and “EMT.”
  • Other job names identify specific individuals of interest to VRS, such as organization leaders or officers, and provide additional categorization in VRS’ database. This enables VRS to respond to questions from employers or legislators about our membership and identify these populations in cases of future changes to the benefit structure. Examples of these are “Manager/Administrator,” “Treasurer” and “Critical Shortage Teacher.”

In November and December 2010, VRS sent most employers a customized list of job names that reflects the benefits that employer provides for their employees under VRS. The information was sent to the organization’s Modernization Liaison by e-mail.

State agencies who report through CIPPS will receive information regarding Modernization at a later date. VRS is working with the Department of Accounts and Department of Human Resource Management to resolve issues unique to state employers.

Note: Refer to the list you received for the specific job names that apply to your employees.

What do I do with the list of job names?

If you plan to submit employee information via a batch file, you will have to program your file layout to include a field for job name. Refer to the Systems Requirements Distribution 1 pdf icon 264kb for more information.

As VRS converts the information currently on record in our database into a format compatible with myVRS Navigator, we will assign job names to your existing employees. Before the data is loaded into myVRS Navigator, we will request you review the job name assignments to ensure it is accurate for each individual.

You will begin identifying employees by these job names when myVRS Navigator launches. When enrolling a new employee, the job name you select will populate the benefits and programs that apply to that employee. This selection also will generate specific communications to the employee about his or her VRS membership and benefits.

If I don’t see a job name that applies to an employee, can I add a new job name?

Please contact VRS if you feel your list of job name options does not reflect the benefits you provide. Remember, VRS job names are not the same as the titles employees have in your organization. Instead, job names are categories that reflect the benefits your organization provides to your employees or other categories of interest to VRS (such as "critical shortage teachers"). Most employees in the general VRS plan will fall under the "employee" job name.

Do "job names" apply to political subdivision employees?

VRS will assign job names to all employees, regardless of their employer. myVRS Navigator uses the job name to calculate benefits, display appropriate benefit and program information and generate specific communications to an employee about his or her VRS membership and benefits. Therefore it is critical for all employees to have a VRS job name.

Converting Data into myVRS Navigator

Will existing VRS data be imported into myVRS Navigator?

VRS will convert all current employer and member data and load it into myVRS Navigator before the new system launches.

Managing Contacts

  1. How do I set up my account in myVRS Navigator?
  2. Is there a limit to the number of users per agency?

How do I set up my account in myVRS Navigator?

Employers will designate most authorized users online in myVRS Navigator. VRS will ask you to designate a primary administrative authority and a security administrator using the Authorization of Administrative Contacts (VRS-67A) pdf icon 35kb. VRS will establish accounts for these individuals in myVRS Navigator. Then, the security administrator will use myVRS Navigator’s online contacts management system to set up accounts for additional individuals at your organization. As part of establishing these accounts, the security administrator will define each contact’s level of access to myVRS Navigator and specify the actions each user can perform. Look for more information about this in the future.

Is there a limit to the number of users per agency?

There is no limit. You can authorize as many contacts as you wish.

Employee Identification Numbers

  1. Is the VRS member ID the employee’s Social Security number?
  2. How will I know my employees’ VRS ID numbers?
  3. If Social Security numbers are not used after enrollment, how do I confirm that it is correct?
  4. What can I enter into the search fields to find my employees?

Is the VRS member ID the employee’s Social Security number?

With the launch of myVRS Navigator, VRS will discontinue the use of Social Security numbers (SSN), except at enrollment, to protect customers’ identities. Employers may use their own employee ID numbers or VRS numbers.

How will I know my employees’ VRS ID numbers?

myVRS Navigator will display the VRS ID number in the employee’s consolidated view window.

If Social Security numbers are not used after enrollment, how do I confirm that it is correct?

A limited number of contacts at each employer can access an employee’s Social Security number, along with VRS.

What can I enter into the search fields to find my employees?

Using the robust search feature in myVRS Navigator, you can search by employee identification numbers or VRS customer identification numbers, whichever identifier you chose for your employees. In addition to searching via identification number, you also may search by first and last names or portions of names.

Training

  1. How will I be trained to use myVRS Navigator?
  2. What courses will be offered?
  3. How long are myVRS Navigator courses?
  4. Does each employer contact have to take all of the available courses?
  5. What grade or score do I have to achieve on the tests to pass a course?
  6. Can I print a list of the training courses I have completed?
  7. Where can I find myVRS Navigator training?
  8. How do I register for VRS University?

How will I be trained to use myVRS Navigator?

VRS is preparing comprehensive online, self-study courses to train employers in using myVRS Navigator. In online training, you view information on your computer screen and listen to a recorded instructor using your computer's speakers. Courses will include demonstrations, skill assessments and practice sessions in a mock myVRS Navigator environment. These courses will be available in VRS University's Knowledge Center, VRS' online training environment, in late summer 2012. In the meantime, registered users can visit the Knowledge Center to complete non-Modernization employer training courses.

In addition to training courses, myVRS Navigator will include features such as online help and tool tips for assistance as you work in the technology. Stay tuned for more information on these features.

What courses will be offered?

VRS has designed approximately 20 courses for employers. They include topics such as introduction to myVRS Navigator; enrolling employees online; generating, viewing and confirming a monthly contribution snapshot; and security awareness.

How long are myVRS Navigator courses?

Courses range in length from 15 minutes to two hours. Longer courses are divided into sections called modules that may be 15 to 30 minutes each. Since each person learns at a different pace, you may need less or more time to complete each course. You also have the ability to stop courses and pick them back up later. When you return to a course, the Knowledge Center offers you the option to open it where you left or to start from the beginning.

Does each employer contact have to take all of the available courses?

Not all users will take all courses. The courses are designed around the ways individuals at each organization interact with VRS. An individual who works in the human resource department interacts with VRS in a different way than a person who works in the payroll office. You will learn which courses you should take prior to the start of training.

What grade or score do I have to achieve on the tests to pass a course?

The skill assessment at the end of each course measures how well you understand the concepts in that course. VRS recommends participants achieve a score of 80 percent or better for most courses.

The exception is a quiz on security awareness you will take the first time you log into myVRS Navigator. You must achieve a minimum score of 80 percent on this quiz to gain access to myVRS Navigator. The security awareness course and skill assessment prepare you for this quiz.

Can I print a list of the training courses I have completed?

You can print a certificate of completion after you complete each course. You also can print a transcript of all courses you have taken and the scores you received. Your training record is saved in the Knowledge Center for future reference.

Where can I find myVRS Navigator training?

myVRS Navigator training courses will be available in VRS University's Knowledge Center. You can access VRS University through the Employer Training page. A Knowledge Center is a Web-based application that delivers training topics to your desktop, as well as tracks your training progress. VRS University is part of the Commonwealth of Virginia's online Knowledge Center (KC).

Non-Modernization VRS courses are available now in VRS University. View the current course catalog pdf icon 157kb.

How do I register for VRS University?

VRS registers school and political subdivision contacts for VRS University. Employees of state agencies can access VRS University courses through the agency's own Knowledge Center or through the Department of Human Resource Management's (DHRM) Knowledge Center. Read about registering for myVRS Navigator training.

Implementation Schedule

  1. What will happen to myVRS for Employers after myVRS Navigator launches?
  2. When will members and retirees receive access to myVRS Navigator?
  3. Who will be participating in the employer pilot?
  4. How can I prepare for the implementation of myVRS Navigator?

What will happen to myVRS for Employers after myVRS Navigator launches?

myVRS Navigator will completely replace the current myVRS. Between the launch of the first component of myVRS Navigator and the second, you will continue to use both technologies. Logging in to myVRS Navigator will automatically log you into myVRS for Employers, which you can easily access from the Link Toolbox.

When will members and retirees receive access to myVRS Navigator?

Members and retirees will continue to use the current myVRS system until the second phase of myVRS Navigator launches and replaces myVRS.

Who will be participating in the employer pilot?

VRS is finalizing plans for the employer pilot and will share information when it is available.

How can I prepare for the implementation of myVRS Navigator?

VRS will contact you about pre-implementation activities. These include setting up your initial authorized contacts and confirming the job names we have assigned to your employees. You also will go through training to learn how to use myVRS Navigator to manage your employees’ benefits. If you are planning to submit data using a batch file, you will provide a certification file during the batch certification process. Batch certification ensures your file can be successfully read by myVRS Navigator.

Modernization Liaisons

  1. Who is my organization’s Modernization Liaison?
  2. Can I add a second Modernization Liaison for my organization?

Who is my organization’s Modernization Liaison?

The Modernization Liaison is usually the organization’s primary human resource contact. However, some organizations have assigned another person. Contact modernization@varetire.org to learn who serves as your Modernization Liaison.

Can I add a second Modernization Liaison for my organization?

In addition to the Modernization Liaison for each organization, VRS now sends communications to primary and secondary human resource, payroll/finance and IT contacts listed in the VRS database. This helps ensure that important information is received at the organization if the Modernization Liaison is out of the office.

Receiving Alerts through myVRS Navigator

If I’m not logged in to myVRS Navigator, how will I know when I have an alert?

When myVRS Navigator posts an alert, it sends a notice to the e-mail account the user entered in their myVRS Navigator profile.

Security

  1. Will myVRS Navigator time out my session?
  2. Will the contacts I have authorized to VRS now be the same ones who have access to myVRS Navigator?

Will myVRS Navigator time out my session?

After a period of no activity, myVRS Navigator will end your session, requiring you to resubmit your log-in credentials to continue. This is a security feature to prevent unauthorized access to myVRS Navigator in the event a user forgets to log out before leaving his or her desk.

Will the contacts I have authorized to VRS now be the same ones who have access to myVRS Navigator?

Employers will determine contacts authorized to interact with VRS and their level of access to information in myVRS Navigator. Employers will use myVRS Navigator to establish and make changes to contacts online. Using this online feature reduces the use of the Authorization of Employer Contacts (VRS-67) pdf icon 50kb. Look for more information on managing contacts in the future.

Third-Party Benefits

  1. Will Minnesota Life be able to obtain information from myVRS Navigator for salary and age updates in January?

Will Minnesota Life be able to obtain information from myVRS Navigator for salary and age updates in January?

myVRS Navigator will transfer information to Minnesota Life and other VRS third-party administrators each month. This eliminates the need for employers and employees to report enrollments and updates to various vendors multiple times.

Electronic Payments for School and Political Subdivision Employers

  1. What is VRS’ preferred form of payment after myVRS Navigator launches?
  2. What is ACH debit?
  3. Who at VRS will have access to my banking information?
  4. Who at my organization will have access to the organization’s banking information?
  5. Who at my organization will have the ability to approve payments?
  6. When will VRS withdraw money from my account?
  7. Can I continue to send individual payments for each benefit?
  8. Can I continue to pay contributions for another organization?
  9. What is the purpose of the Notification of Electronic Payment Information (VRS-61)?
  10. Once I submit the VRS-61, when does VRS begin debiting my account?
  11. Is the VRS-61 required?
  12. Will VRS accept other forms of payment besides ACH debit?

What is VRS’ preferred form of payment after myVRS Navigator launches?

VRS recommends ACH debit because of the efficiency and security offered by electronic payments.

What is ACH debit?

ACH debit is an automated, electronic transfer of funds through secure financial networks. ACH transactions are more secure than paper checks sent through the mail and offers increased efficiency and control, including convenient allocation of payments. Electronic payments also reduce processing and administrative costs and eliminate keying mistakes found in processing manual checks. VRS will withdraw funds each month only upon your approval, only for the amount you specify and only on the date you specify.

Who at VRS will have access to my banking information?

Only select VRS staff will have access to your banking information.

Who at my organization will have access to the organization’s banking information?

The security administrator at each employer will set up contacts who may view your banking information, set up payments and approve (or submit) payments. VRS will provide more information about security and managing contacts this summer. To learn about the process of setting up and authorizing payments in myVRS Navigator, view the webinar on reporting and payment tools flash icon 176kb.

Who at my organization will have the ability to approve payments?

The security administrator at each employer will set up contacts who may view your banking information, set up payments and approve (or submit) payments. For added financial control, the security administrator can designate one individual to set up payments and another individual to approve payments. VRS will provide more information about security and managing contacts this summer. To learn about the process of setting up and approving payments in myVRS Navigator, view the webinar on reporting and payment tools flash icon 176kb.

When will VRS withdraw money from my account?

VRS will withdraw funds only after you have approved the amount and the date of the withdrawal. Approving a scheduled payment is the final step in the monthly process of confirming and scheduling a payment of the contributions. You can see this process demonstrated in the myVRS Navigator sneak peek webinar on reporting and payment tools flash icon 176kb.

Can I continue to send individual payments for each benefit?

In the future, you will need to send only one payment for all contributions owed. If you are accustomed to sending a separate check for each benefit (such as retirement, life insurance and health insurance credit) because you allocate expenses to various cost lines, you may wish to set up a disbursement or payroll account specifically for VRS payments. With a disbursement or payroll account, you can expense payments from each benefit program into a single account and then coordinate payment from that account to VRS.

Can I continue to pay contributions for another organization?

Yes. VRS understands that some employers coordinate finances with other employers and designed myVRS Navigator with this in mind. The organization you fund can identify you as a business partner and authorize you to access data and submit funds on its behalf. You may wish to set up a disbursement or payroll account specifically for VRS payments. With a disbursement or payroll account, you can expense payments from each benefit program into a single account and then coordinate payment from that account to VRS via ACH debit. You will learn more about coordinating business partners in the future.

What is the purpose of the Notification of Electronic Payment Information (VRS-61)?

This form authorizes VRS to withdraw scheduled contribution payments via electronic ACH debit from the bank account you indicate on the form. VRS will withdraw funds each month only upon your approval, only for the amount you specify and only on the date you specify. Contact modernization@varetire.org to request a copy of this form.

Once I submit the VRS-61, when does VRS begin debiting my account?

VRS will begin withdrawing funds via ACH debit after myVRS Navigator launches. Once you confirm your first month’s contribution snapshot, schedule the payment and approve the transaction, VRS will withdraw the funds on the scheduled payment date.

Is the VRS-61 required?

This form is required to authorize VRS to withdraw funds via ACH debit and to provide VRS with the necessary banking information for the transaction. If you prefer to pay another way, do not return this form.

Will VRS accept other forms of payment besides ACH debit?

VRS also will accept payments by ACH credit, wire transfers and checks. However, these methods are not as secure or as efficient as ACH debit.

  • ACH debit (preferred): myVRS Navigator allocates your payment to each benefit automatically and immediately. Safer, more secure and more efficient than most other forms of payment. Reduces processing and administrative costs.

  • ACH credit: Delay in recognizing the cash receipts because VRS must verify receipt of the funds before allocating them to benefits.

  • Checks: Less secure. VRS will phase out use of a lock box as employers transition to electronic payments.

  • Wire transfers: Delay in recognizing the cash receipts because VRS must verify receipt of the funds before allocating them to benefits. Higher transaction cost.

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