Understanding your VRS Member Benefit Profile
Each year, eligible members of the Virginia Retirement System (VRS) receive a Member Benefit Profile (MBP), an important retirement planning tool that provides a personalized snapshot of their VRS benefits and retirement readiness. The MBP is available through your myVRS account and is based on information reported to VRS as of June 30 each year.
What is the Member Benefit Profile?
The MBP is the annual benefits statement for employees participating in a VRS retirement plan (Plan 1, Plan 2, or Hybrid).
It includes key information about your retirement benefits and helps you understand whether you are on track to meet your retirement income goals. The MBP is designed to help members make informed decisions about retirement planning and long-term financial wellness. Think of your MBP as your annual retirement checkup. A few minutes spent reviewing your MBP can help you better understand your benefits, assess your retirement readiness, and take steps today to build a more secure financial future.
What is Included in the MBP?
- Earliest reduced and unreduced retirement dates
- Estimated monthly retirement benefit
- Your Member Contribution Account balance
- Commonwealth of Virginia 457 Deferred Compensation plan information, if participating
- Group life insurance coverage information
- Estimate of your future retirement income compared to a target retirement income goal
Accessing your MBP
Log in to your myVRS account. Click on My History and then on Annual Statements. An MBP from each year of employment will be available to review.
Why is the MBP Important?
Reviewing your MBP allows you to:
- Monitor your progress toward retirement goals
- Verify that your service and benefit information is accurate
- Understand when you will be eligible to retire
- Identify opportunities to increase retirement savings if there is a projected income gap
- Learn about additional VRS benefits
Other VRS Tools to Try
After reviewing your MBP, consider using these planning tools available through myVRS:
- Benefit Estimator to explore different retirement scenarios (available in your myVRS account)
- Retirement Planner to compare expected retirement income and expenses (available in your myVRS account)
- myVRS Financial Wellness resources, including articles, calculators, webinars, and budgeting tools
- Education and Counseling including virtual and in-person appointments, retirement education seminars, and various VRS training webinars