Your myVRS account puts the tools to manage your retirement benefits directly in your hands. Log in to take advantage of these self-service features anytime.
1. Review your benefit payment summary. See your monthly benefit, what’s being deducted for health insurance and taxes, and the net amount deposited into your bank account each month. You can also view your full payment history.
2. Update your direct deposit information. If you switch banks or open a new account, you can update your direct deposit details. When you submit changes, myVRS will show you the effective date. Do not close your old account until your deposit begins in the new one.
3. Review cost-of-living adjustment information. See your annual COLA and how those adjustments have applied to your benefit over time. Read how the COLA is calculated.
4. Review health insurance premium and credit information. If you are eligible for the health insurance credit and VRS is deducting your health insurance premium from your benefit, you will see the credit amount you are receiving and premium amount. If you are not receiving the health insurance credit, or the full amount, and you have other eligible health insurance coverage, you can report those premiums in myVRS to take full advantage of the credit.
5. Review current and historical 1099 information. Your 1099-R reports the retirement income you received during the year. Your current and past forms are stored securely in myVRS and available at any time.
You can opt out of receiving a paper 1099-R in the mail and receive an email each year when your tax information is available in your myVRS account. Log in now, select Income Tax Information under My Account, and choose the electronic delivery option. VRS will send you an email next January, speeding access to your 1099-R.
6. Change your tax withholding. If you need to adjust how much federal or state tax is taken out of your retirement payment, you can update your elections in myVRS at any time.
7. Manage your beneficiaries. Review and update the beneficiary designations for your member contribution account and group life insurance. Check your designations after any major life change, such as marriage, death, divorce or the birth of a grandchild.
If you still have funds in a VRS defined contribution plan (Commonwealth of Virginia 457 Plan, Hybrid 457 Plan), you must manage those beneficiaries through your DCP Account. Beneficiary changes in myVRS do not carry over to your DCP funds, so be sure to update both, if applicable.
8. Print income verification letters. If a bank, landlord or assistance program asks you to verify your retirement income, you can generate and print a letter. Go to your Benefit Payment Summary and look for the income verification link in the sidebar.
9. Access myVRS Financial Wellness. Planning a big purchase or just want to make sure your budget holds up over time? myVRS Financial Wellness offers budgeting calculators, short courses and personalized action plans you can work through at your own pace.
10. Find resources and plan for what’s next. Your account includes links to Social Security, Medicare and health insurance resources. You’ll also find links to VRS guidelines on relevant topics such as returning to work.
If you haven’t accessed your myVRS account in the past 90 days, you’ll need to reset your password. Log in at least once every three months to avoid the extra step. Customer Contact Center agents can help with any of these tasks or walk you through your account. Call VRS at 888-827-3847, Monday through Friday, 8:30 a.m. to 5 p.m.
