Welcome to the Replay of Our Webinar on the
2024-25 Fiscal Year Changes to VRS Deductions
Thank you for your interest in the recent RDA Systems webinar! Whether you’re revisiting the content or viewing it for the first time, you’ve made an important step towards ensuring your organization is well-prepared for the upcoming changes.
Why Watch the Replay?
Understanding the updates to VRS (Virginia Retirement System) deductions is crucial for administrators of small school districts and local governments. These changes will impact how retirement contributions are managed, affecting your budgeting and financial strategies for the upcoming fiscal year.
- Stay Informed: Ensure you are up-to-date with the latest requirements and regulatory changes.
- Prepare Effectively: Gain insights into best practices for implementing the new deduction schemes.
- Access Expertise: Our webinar features specialists who provide detailed explanations and answer common questions about the changes.
Click the video above to access the recorded session and enhance your understanding of the VRS deduction changes. The information provided will assist you in making informed decisions for your organization.
Frequently Asked Questions (FAQ's)
Yes, the paycheck gross is adjusted each pay based on the leave docked, adjustment and salary adjustment rates.
That is correct.
Yes, all 4 deductions will be different with adjustments, salary adjustments and leave dock added.
There will be a Solution on Fresh Desk available.Â
Continue to include supplements or any other type of pay that you normally include in compensation.
Once all deferred payrolls are run, the July payroll can be run with the new deduction set up. Since customers may handle accrual payrolls differently, please contact customer support with any questions.
Recommendation is to keep plan 1 and 2 and DB Hybrid payable by contract months and DC hybrid payable for 12 months.
It’s not about the position, it’s based on the Rate Masters and Gross Rate Masters which are part of the Gross ID for each rate that needs to be included in calculating the DC Hybrid deductions.
Need Further Assistance?
Please see the brief below for additional information
Remember, RDA Systems is here to support you beyond the webinar. If you need personalized assistance or have specific questions about how these changes apply to your organization, please don’t hesitate to reach out. Our team is ready to provide the expertise and support you need to navigate these changes effectively.
Contact us today for tailored support:
Thank You for Your Commitment to Excellence
We appreciate your dedication to staying informed and adapting to changes within your field. Thank you for choosing RDA Systems as your partner in this journey. We look forward to continuing to support your organization’s success.
