Annual Retirement Seminar Coming in January
Where can you go to hear comprehensive FCPS retirement information all in one place? Join us for our popular Annual Retirement Seminar on Friday, January 25, from 8 a.m. to noon at Thomas Jefferson High School. Open to all members, the seminar will feature presentations from ERFC, VRS, FCPS HR Benefit Services and the Social Security Administration. You can meet with representatives from the FCPS 403b and 457 plans, Apple Federal Credit Union and ICMA-RC, the VRS Hybrid Plan defined contribution manager. Register on MyPLT, search ERFC.
 Board Welcomes New Trustee
Helen Nixon, FCPS assistant superintendent, Department of Human Resources, has been appointed as a Trustee on the ERFC Board.
Nixon, who brings extensive administrative and instructional experience to FCPS, previously worked for the Howard County (Md.) Public School system, where she served as the chief human resources and leadership development officer. A graduate of Clemson University with a bachelor’s degree in English, Nixon earned a master’s in fine arts from Virginia Commonwealth University and a doctorate in education from The George Washington University.
|
Check Your Beneficiary Designations
Make sure your important FCPS accounts contain current beneficiary information. If you’ve recently married, divorced or have a new baby, make sure you’ve designated the people who should receive your benefits if you die before retiring. You can update your ERFC information through ERFCDirect by clicking click “Named Beneficiaries” on your home page.
Designate beneficiaries and allow access to your VRS account information by submitting the Designation of Beneficiary (VRS-2) form, which also covers your VRS Basic and Optional Life Insurance. If you are a VRS Hybrid plan member, you’ll also want to designate beneficiaries for the defined contribution portion of the plan. You can check and update that beneficiary information through Account Access.
VRS Phasing Out Automated Voice Response Line in January
As more self-service features become available in myVRS, your secure online account, VRS is retiring the Virginia Informational Phone System (VIPS) line beginning January 31, 2019. Option 2, used to check your current member contribution account balance, will no longer be available by phone.
myVRS offers secure access to your member account from your smart phone, tablet or personal computer. Log in or register for your myVRS account and view your employment and salary history, your VRS account balance and the earliest date you can take unreduced or reduced retirement.
Additionally, you can use the Retirement Planner to focus on your retirement goals throughout your career and the Benefit Estimator to preview your benefit amount in retirement. myVRS also offers a financial wellness program featuring short videos, educational games, mini-courses and budgeting tools to help you expand your money-management skills.
As a reminder, myVRS is available Monday – Saturday, 7 a.m. to 11:30 p.m., and Sunday, 8:30 a.m. to 11:30 p.m. If you need to speak to a VRS representative, call 888-827-3847, Monday through Friday, 8:30 a.m. to 5 p.m.
Social Security Announces 2019 COLA and Wage Base Increases
If you are receiving a monthly Social Security benefit, you will see a 2.8 percent increase in January 2019. The annual COLA increase is tied to the Consumer Price Index and affects more than 67 million Americans. The estimated average monthly benefit will increase from $1,422 in 2018 to $1,461.
For 2019, the maximum amount of earnings subject to the Social Security tax will increase from $128,400 to $132,900. Find more information at www.ssa.gov.
Minnesota Life is Now Securian Financial
Minnesota Life, the third-party administrator of your VRS Group Life Insurance Program, has adopted the name of its parent company, Securian Financial. There will be no change to group life insurance and optional group life insurance benefits or coverage, which will continue to be underwritten by Minnesota Life. VRS will soon begin changing Minnesota Life references to Securian Financial on its website and in publications.
|
