Member News

When thinking ahead to life in retirement, it helps to know if you are on track to meet your goals. One way to check is by reviewing your Member Benefit Profile, which will be available in your myVRS account by early September.

Your MBP is an annual summary of your benefits as of June 30. It shows your total service credit, member contribution account balance and benefit estimates under both the defined benefit and defined contribution components of your plan, as applicable.

Looking at the document each year can help you stay informed and spot gaps early. To view it:

1. Log in to myVRS.
2. Under My History, select Annual Statements.
3. Choose the most recent year.

Check the “Your Target Income in Retirement” section to see how your projected VRS income compares to the common goal of replacing 80% of your current salary. Your VRS benefit alone is not meant to meet that goal, but the MBP helps you see how your benefit fits into your broader financial plan, including estimates for Social Security and other savings that can help close the gap.

For real-time information, return to the myVRS home page. Then, use custom planning tools to adjust your savings strategy and keep your goals in sight. The Benefit Estimator lets you run custom scenarios to estimate your VRS monthly benefit, and the Retirement Income Planner helps you evaluate how different income sources and expenses could affect your long-term plan.

While you’re signed in to myVRS, make sure your information is up to date. To update your contact details, click Update Profile under your name in the top-right corner. To review or change your beneficiary designations, go to the Manage My Benefits menu and select Manage Beneficiaries.