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COMMONWEALTH OF VIRGINIA DEFINED CONTRIBUTION PLANS
FocusIn this issueInvestment Changes Coming July 2012
New Target Date Portfolios, the Do-It-For-Me Path
Go Green, Go Paperless
Access Your Plan Account on Your Mobile Device
Plan Website Tips
Retirement Income Option
Is Your Beneficiary Up to Date?
A Mobile Game to Boost Your Financial Brain Power
Register for a Meeting Near You
Money Matters for Virginians Courses
1-VRS-DC-PLAN1 (1-877-327-5261)www.varetire.org
APRIL 2012
SKU#VA1Q12
Plan Information Line:1-VRS-DC-PLAN1 (1-877-327-5261)Monday – Friday • 8 a.m. to 8 p.m. Eastern Time
Plan website:www.varetire.org. Select your Plan under the Defined Contribution Plans tab.
ING Service Center: 919 E. Main Street • Richmond, VA 232191-VRS-DC-PLAN1, option 2Monday – Friday • 8:30 a.m. to 5 p.m. Eastern Time
ING Registered Representatives:1-VRS-DC-PLAN1, option 2Kelly Hiers, David Detamore, Mackenzie Moss, Janice Parker
This newsletter is not intended to provide legal, tax or investment advice. For such advice, participants shouldcontact their legal, tax or investment advisers. © 2012 ING. All Rights Reserved.
PAGE 1PAGE 4
* quarterly calendarTransactions made on these dateswhen the New York Stock Exchangeis closed will be processed thefollowing business day.
• Monday, May 28• Wednesday, July 4
Contact Us
More detailed
information will be
sent to you by mail
in the coming weeks.
Your registered representative will hold special meetings and workshops to help you understand
the three paths and investment choices. A schedule is enclosed. Stay tuned to the Plan
website at www.varetire.org under the Defined Contribution Plans tab for additional dates
and registration information or ask your employer about sessions convenient for you.
A Mobile Game to Boost Your Financial Brain PowerSTRUCT is a game of fast-paced
action for iPhone®, iPod touch® or
iPad®. The skills you develop to
succeed at the game translate to
similar ones that are necessary to
become a successful long-term saver.
Go to www.structgame.com to learn
more — and check out the video.
Or search for STRUCT available at
the App StoreSM.
Requires iOS 3.2 or later. iPhone, iPod touch and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.
Register for a Meeting Near You Regional Education Meetings offer a convenient way to learn
more about the Commonwealth of Virginia Defined Contribution
Plans and how to manage your retirement assets. Since space
is limited, it is strongly suggested that you register in advance.
During Regional Education Meetings, local registered
representatives present information and answer questions
at locations throughout the Commonwealth. Topics include
First Steps to Financial Security, Deferred Compensation and Cash MatchPlans Overview, Understanding Your Plan Investments (including the new
investment lineup) and Retirement Distribution Strategies.
For details or to register, go to www.varetire.org and select
your plan under the Defined Contribution Plans tab. A schedule
of upcoming meetings is enclosed.
Money Matters for Virginians CoursesMoney Matters for Virginians, a series of online courses covering
financial basics, is now available at www.varetire.org. Courses are
free and no registration is necessary. Learn at home on your own
schedule. Each course lasts 30 minutes and covers various financial
topics from banking basics to home finance and other subjects.
Investment Changes Coming July 2012 The Virginia Retirement System (VRS) is committed to offering a range of investment options across different asset classes under the Defined Contribution(DC) Plans. After careful evaluation of the current investment lineup, several studies and participant feedback, VRS is making changes to the investment lineup effective July 23.
The upcoming changes will offer you maximum flexibility in choosing funds. The current tiered
structure will be replaced with a path structure. A simplified path structure will provide access
to a streamlined selection of funds and target date portfolios. Target date portfolios offer a
diversified mix of stocks, bonds and other asset classes, based on your projected retirement date.
The three paths will make it easier for you to choose your investments. However, you do not
have to choose just one path. You can mix and match your options based on your level of comfort
with investing and individual needs.
The changes will apply to the 457 Deferred Compensation Plan, the Virginia Cash Match Plan, the
Optional Retirement Plans for Political Appointees and School Superintendents and the Virginia
Supplemental Retirement Plan. The three paths are:
VRS is in the process of finalizing the details of the new lineup. Working with ING, the Plans’
record keeper, VRS is developing materials to provide you with more information about the
upcoming changes.
You will receive more information in the mail explaining the impact of these changes on your
current investment selections. Please read this information carefully and review your account
so you can determine if you want to make any changes.
Retirement Income OptionIf you are leaving employment or retiring, you may
structure your plan distributions to provide a guaranteed
stream of income for your lifetime or your lifetime and that
of a second person. This is accomplished through the
purchase of an immediate lifetime annuity under the
Defined Contribution Plans. Income payments begin
immediately and are guaranteed to last as long as you live.
Guarantees for annuities are based on the claims-paying
ability of the issuing company.
For information, go to www.varetire.org. Select your
plan under the Defined Contribution Plans tab, then
select Forms. Under Annuity, select Five Annuity Questions and MetLife Guaranteed Income Program.
Or call 1-VRS-DC-PLAN1 (1-877-327-5261).
Is Your Beneficiary Up to Date? It is important to choose a beneficiary who would
receive your plan benefits in the event of your death.
Consider reviewing your beneficiary information once a
year, or sooner, if there are changes in your relationships
or health. You may change the beneficiary named for your
plan account anytime.
Online. Go to www.varetire.org and select your plan
under the Defined Contribution Plans tab. Log into
your plan account, select Personal Information then
Beneficiary Information.
By phone. Call the Plan Information Line at 1-VRS-DC-PLAN1(1-877-327-5261) to designate or update your beneficiary
information.
By form. Go to www.varetire.org and select your plan
under the Defined Contribution Plans tab. Select Formsfrom the top navigation bar, then Beneficiary DesignationForm. Or call the Plan Information Line at 1-VRS-DC-PLAN1(1-877-327-5261) and request the Beneficiary Designation
Form for your plan account.
No other methods, such as sending a letter or marked-up
statement, are acceptable for submitting beneficiary
information.
Do-It-For-Me Path
You may not have the time or experience
to put together a portfolio of investments.
Target date portfolios offer the ease and
convenience of a professionally-managed
diversified portfolio in one step. You choose
a target date portfolio based on your
personal circumstances and your projected
retirement date — the rest is done for
you. (See New Target Date Portfolios, the
Do-It-For-Me Path on page 2.)
Help-Me-Do-It Path
You may want to take a more
active role as an investor. To
save you time, VRS has carefully
selected a menu of core fund
options across the asset classes
so you can construct a portfolio
based on your investment
strategy.
Do-It-Myself Path
You may be an experienced
investor who wants other choices
in addition to the target date
portfolios and core fund options.
Through the Self-Directed Brokerage
Account (SDBA), you can invest
in mutual funds, exchange traded
funds (ETFs) and individual securities.
40957_Virginia_VRS 4/10/12 7:46 PM Page 1
APRIL 2012PAGE 3PAGE 2 Articles by ING are not intended to provide tax or investment advice.
Plan Website Tips FIFTH IN A SERIES
Your Plan website at www.varetire.org offers a convenient way to accessinformation and manage your account. Here are some tips to help you master the basics and avoid delays.
Reset your passwordYou created future password reset capabilities when you selected five security
questions for your Defined Contribution Plans account. If you forget or misplace
your password, answer three security questions correctly to change your password
online. To create a new password, use at least eight and no more than 20 characters.
Mix letters and numbers. Include at least one uppercase letter, one lowercase
letter and a number. Do not use special characters such as: ! @ # $ % ^ & * () ?
This password is for your Defined Contribution Plans account only. myVRS is
a separate account and requires a different password.
Save convenientlyYou have the option to schedule automated plan contribution increases.
Select Account Log-In under the Defined Contribution Plans tab and log into
your account. From the site map, select Manage Contributions, then select
Contribution Escalator. The change you request can occur no earlier than the first
available pay date in the month following the month you submit this request.
New Target Date Portfolios, the Do-It-For-Me Path
Go Green, Go PaperlessElect to receive your account statements and other documents electronically and you’ll also gain these benefits:
• Convenient, secure access to your account online anytime, worldwide.
• Instantly view, print or save account information on your personal computer.
• Generate a custom statement using your choice of time frames.
• Your statement will not be delayed, lost or stolen in the mail.
View your statement anytime by logging into your account using
your confidential username and password.
• Going green reduces paper waste, saves trees and helps protect
the environment.
Go to www.varetire.org and select your plan under the Defined Contribution Plans tab. Log into your account, select My Profile, then Mail Delivery Preferences and change your mail preference to electronic delivery. You
will receive notifications of new electronic correspondence delivered to
your online account.
A new mobile account application is available for owners of iPhone®, iPod touch®,iPad® and Android™ devices. Download the ING Retirement Plan Account mobile application so you can quickly check your balance and much more.
Here are some of the account details you’ll be able to view on the go:
• Current balances
• Balance history
• Balances by asset class and fund
• Personal rate of return
• Fund performance
To help you manage your account, the mobile application also allows you to:
• Change your contributions
• Transfer money among funds
• Reallocate your account balance
• Change how future contributions will be invested
You must sign in to your online account at least once before you access ING’s new mobile app.
Use your smartphone to download the app directly from the App StoreSM or through the Android
Market (keywords: ING Retire). For more information, visit https://mobile.ingplans.com.
Access Your Plan Account on Your Mobile Device
iPhone, iPod touch are trademarks of Apple Inc., registered in the U.S. and other countries.App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.
Target date portfolios offer a simple
retirement investing solution. Generally,
you will pick the portfolio with the target
date that is closest to when you expect to
begin withdrawing money for retirement.
For example, if you expect to retire in
2044, you might consider the 2045
portfolio. If the year you plan to retire
falls between two portfolios, selecting
the portfolio with the earlier date may
provide you with a more conservative
investment strategy, while choosing the
portfolio with the later date may offer a
more aggressive approach. In addition to
your projected retirement date, consider
your risk tolerance, financial assets and
personal circumstances before making
the choice appropriate for you.
Professionals make the diversification,
asset allocation and rebalancing decisions
for the target date portfolios. They are
constructed to provide broad diversification
so you typically only need one portfolio.
Over time, the investment mix gradually
shifts from a greater concentration of
higher-risk investments (such as stock
funds) to a greater concentration of
lower-risk investments (such as bond
funds). The investment mix automatically
becomes more conservative as the target
date portfolio approaches its target date.
As an investor, you will continue to
have a role in your investment strategy
by monitoring your plan account and
increasing contributions to stay on
track with your retirement objectives.
Diversification and shifting to a
conservative investment mix over
time helps manage risk, but does not
guarantee earnings growth. As with
any investment, there is risk and the
potential to lose value. Although target
date portfolios seek to meet different
investment objectives, meeting these
objectives is not guaranteed. Asset
allocation, diversification and rebalancing
do not ensure a profit or protect against
loss in declining markets. You should
carefully read and review all investment
information prior to making any
investment decisions.
Visit the Plan’s website at www.varetire.org
under the Defined Contribution Plans
tab starting in mid-May for more detailed
information about the target date portfolios.
Or call the Plan Information Line at
1-VRS-DC-PLAN1 (1-877-327-5261).
40957_Virginia_VRS 4/10/12 7:46 PM Page 3
APRIL 2012PAGE 3PAGE 2 Articles by ING are not intended to provide tax or investment advice.
Plan Website Tips FIFTH IN A SERIES
Your Plan website at www.varetire.org offers a convenient way to accessinformation and manage your account. Here are some tips to help you master the basics and avoid delays.
Reset your passwordYou created future password reset capabilities when you selected five security
questions for your Defined Contribution Plans account. If you forget or misplace
your password, answer three security questions correctly to change your password
online. To create a new password, use at least eight and no more than 20 characters.
Mix letters and numbers. Include at least one uppercase letter, one lowercase
letter and a number. Do not use special characters such as: ! @ # $ % ^ & * () ?
This password is for your Defined Contribution Plans account only. myVRS is
a separate account and requires a different password.
Save convenientlyYou have the option to schedule automated plan contribution increases.
Select Account Log-In under the Defined Contribution Plans tab and log into
your account. From the site map, select Manage Contributions, then select
Contribution Escalator. The change you request can occur no earlier than the first
available pay date in the month following the month you submit this request.
New Target Date Portfolios, the Do-It-For-Me Path
Go Green, Go PaperlessElect to receive your account statements and other documents electronically and you’ll also gain these benefits:
• Convenient, secure access to your account online anytime, worldwide.
• Instantly view, print or save account information on your personal computer.
• Generate a custom statement using your choice of time frames.
• Your statement will not be delayed, lost or stolen in the mail.
View your statement anytime by logging into your account using
your confidential username and password.
• Going green reduces paper waste, saves trees and helps protect
the environment.
Go to www.varetire.org and select your plan under the Defined Contribution Plans tab. Log into your account, select My Profile, then Mail Delivery Preferences and change your mail preference to electronic delivery. You
will receive notifications of new electronic correspondence delivered to
your online account.
A new mobile account application is available for owners of iPhone®, iPod touch®,iPad® and Android™ devices. Download the ING Retirement Plan Account mobile application so you can quickly check your balance and much more.
Here are some of the account details you’ll be able to view on the go:
• Current balances
• Balance history
• Balances by asset class and fund
• Personal rate of return
• Fund performance
To help you manage your account, the mobile application also allows you to:
• Change your contributions
• Transfer money among funds
• Reallocate your account balance
• Change how future contributions will be invested
You must sign in to your online account at least once before you access ING’s new mobile app.
Use your smartphone to download the app directly from the App StoreSM or through the Android
Market (keywords: ING Retire). For more information, visit https://mobile.ingplans.com.
Access Your Plan Account on Your Mobile Device
iPhone, iPod touch are trademarks of Apple Inc., registered in the U.S. and other countries.App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.
Target date portfolios offer a simple
retirement investing solution. Generally,
you will pick the portfolio with the target
date that is closest to when you expect to
begin withdrawing money for retirement.
For example, if you expect to retire in
2044, you might consider the 2045
portfolio. If the year you plan to retire
falls between two portfolios, selecting
the portfolio with the earlier date may
provide you with a more conservative
investment strategy, while choosing the
portfolio with the later date may offer a
more aggressive approach. In addition to
your projected retirement date, consider
your risk tolerance, financial assets and
personal circumstances before making
the choice appropriate for you.
Professionals make the diversification,
asset allocation and rebalancing decisions
for the target date portfolios. They are
constructed to provide broad diversification
so you typically only need one portfolio.
Over time, the investment mix gradually
shifts from a greater concentration of
higher-risk investments (such as stock
funds) to a greater concentration of
lower-risk investments (such as bond
funds). The investment mix automatically
becomes more conservative as the target
date portfolio approaches its target date.
As an investor, you will continue to
have a role in your investment strategy
by monitoring your plan account and
increasing contributions to stay on
track with your retirement objectives.
Diversification and shifting to a
conservative investment mix over
time helps manage risk, but does not
guarantee earnings growth. As with
any investment, there is risk and the
potential to lose value. Although target
date portfolios seek to meet different
investment objectives, meeting these
objectives is not guaranteed. Asset
allocation, diversification and rebalancing
do not ensure a profit or protect against
loss in declining markets. You should
carefully read and review all investment
information prior to making any
investment decisions.
Visit the Plan’s website at www.varetire.org
under the Defined Contribution Plans
tab starting in mid-May for more detailed
information about the target date portfolios.
Or call the Plan Information Line at
1-VRS-DC-PLAN1 (1-877-327-5261).
40957_Virginia_VRS 4/10/12 7:46 PM Page 3
COMMONWEALTH OF VIRGINIA DEFINED CONTRIBUTION PLANS
FocusIn this issueInvestment Changes Coming July 2012
New Target Date Portfolios, the Do-It-For-Me Path
Go Green, Go Paperless
Access Your Plan Account on Your Mobile Device
Plan Website Tips
Retirement Income Option
Is Your Beneficiary Up to Date?
A Mobile Game to Boost Your Financial Brain Power
Register for a Meeting Near You
Money Matters for Virginians Courses
1-VRS-DC-PLAN1 (1-877-327-5261)www.varetire.org
APRIL 2012
SKU#VA1Q12
Plan Information Line:1-VRS-DC-PLAN1 (1-877-327-5261)Monday – Friday • 8 a.m. to 8 p.m. Eastern Time
Plan website:www.varetire.org. Select your Plan under the Defined Contribution Plans tab.
ING Service Center: 919 E. Main Street • Richmond, VA 232191-VRS-DC-PLAN1, option 2Monday – Friday • 8:30 a.m. to 5 p.m. Eastern Time
ING Registered Representatives:1-VRS-DC-PLAN1, option 2Kelly Hiers, David Detamore, Mackenzie Moss, Janice Parker
This newsletter is not intended to provide legal, tax or investment advice. For such advice, participants shouldcontact their legal, tax or investment advisers. © 2012 ING. All Rights Reserved.
PAGE 1PAGE 4
* quarterly calendarTransactions made on these dateswhen the New York Stock Exchangeis closed will be processed thefollowing business day.
• Monday, May 28• Wednesday, July 4
Contact Us
More detailed
information will be
sent to you by mail
in the coming weeks.
Your registered representative will hold special meetings and workshops to help you understand
the three paths and investment choices. A schedule is enclosed. Stay tuned to the Plan
website at www.varetire.org under the Defined Contribution Plans tab for additional dates
and registration information or ask your employer about sessions convenient for you.
A Mobile Game to Boost Your Financial Brain PowerSTRUCT is a game of fast-paced
action for iPhone®, iPod touch® or
iPad®. The skills you develop to
succeed at the game translate to
similar ones that are necessary to
become a successful long-term saver.
Go to www.structgame.com to learn
more — and check out the video.
Or search for STRUCT available at
the App StoreSM.
Requires iOS 3.2 or later. iPhone, iPod touch and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.
Register for a Meeting Near You Regional Education Meetings offer a convenient way to learn
more about the Commonwealth of Virginia Defined Contribution
Plans and how to manage your retirement assets. Since space
is limited, it is strongly suggested that you register in advance.
During Regional Education Meetings, local registered
representatives present information and answer questions
at locations throughout the Commonwealth. Topics include
First Steps to Financial Security, Deferred Compensation and Cash MatchPlans Overview, Understanding Your Plan Investments (including the new
investment lineup) and Retirement Distribution Strategies.
For details or to register, go to www.varetire.org and select
your plan under the Defined Contribution Plans tab. A schedule
of upcoming meetings is enclosed.
Money Matters for Virginians CoursesMoney Matters for Virginians, a series of online courses covering
financial basics, is now available at www.varetire.org. Courses are
free and no registration is necessary. Learn at home on your own
schedule. Each course lasts 30 minutes and covers various financial
topics from banking basics to home finance and other subjects.
Investment Changes Coming July 2012 The Virginia Retirement System (VRS) is committed to offering a range of investment options across different asset classes under the Defined Contribution(DC) Plans. After careful evaluation of the current investment lineup, several studies and participant feedback, VRS is making changes to the investment lineup effective July 23.
The upcoming changes will offer you maximum flexibility in choosing funds. The current tiered
structure will be replaced with a path structure. A simplified path structure will provide access
to a streamlined selection of funds and target date portfolios. Target date portfolios offer a
diversified mix of stocks, bonds and other asset classes, based on your projected retirement date.
The three paths will make it easier for you to choose your investments. However, you do not
have to choose just one path. You can mix and match your options based on your level of comfort
with investing and individual needs.
The changes will apply to the 457 Deferred Compensation Plan, the Virginia Cash Match Plan, the
Optional Retirement Plans for Political Appointees and School Superintendents and the Virginia
Supplemental Retirement Plan. The three paths are:
VRS is in the process of finalizing the details of the new lineup. Working with ING, the Plans’
record keeper, VRS is developing materials to provide you with more information about the
upcoming changes.
You will receive more information in the mail explaining the impact of these changes on your
current investment selections. Please read this information carefully and review your account
so you can determine if you want to make any changes.
Retirement Income OptionIf you are leaving employment or retiring, you may
structure your plan distributions to provide a guaranteed
stream of income for your lifetime or your lifetime and that
of a second person. This is accomplished through the
purchase of an immediate lifetime annuity under the
Defined Contribution Plans. Income payments begin
immediately and are guaranteed to last as long as you live.
Guarantees for annuities are based on the claims-paying
ability of the issuing company.
For information, go to www.varetire.org. Select your
plan under the Defined Contribution Plans tab, then
select Forms. Under Annuity, select Five Annuity Questions and MetLife Guaranteed Income Program.
Or call 1-VRS-DC-PLAN1 (1-877-327-5261).
Is Your Beneficiary Up to Date? It is important to choose a beneficiary who would
receive your plan benefits in the event of your death.
Consider reviewing your beneficiary information once a
year, or sooner, if there are changes in your relationships
or health. You may change the beneficiary named for your
plan account anytime.
Online. Go to www.varetire.org and select your plan
under the Defined Contribution Plans tab. Log into
your plan account, select Personal Information then
Beneficiary Information.
By phone. Call the Plan Information Line at 1-VRS-DC-PLAN1(1-877-327-5261) to designate or update your beneficiary
information.
By form. Go to www.varetire.org and select your plan
under the Defined Contribution Plans tab. Select Formsfrom the top navigation bar, then Beneficiary DesignationForm. Or call the Plan Information Line at 1-VRS-DC-PLAN1(1-877-327-5261) and request the Beneficiary Designation
Form for your plan account.
No other methods, such as sending a letter or marked-up
statement, are acceptable for submitting beneficiary
information.
Do-It-For-Me Path
You may not have the time or experience
to put together a portfolio of investments.
Target date portfolios offer the ease and
convenience of a professionally-managed
diversified portfolio in one step. You choose
a target date portfolio based on your
personal circumstances and your projected
retirement date — the rest is done for
you. (See New Target Date Portfolios, the
Do-It-For-Me Path on page 2.)
Help-Me-Do-It Path
You may want to take a more
active role as an investor. To
save you time, VRS has carefully
selected a menu of core fund
options across the asset classes
so you can construct a portfolio
based on your investment
strategy.
Do-It-Myself Path
You may be an experienced
investor who wants other choices
in addition to the target date
portfolios and core fund options.
Through the Self-Directed Brokerage
Account (SDBA), you can invest
in mutual funds, exchange traded
funds (ETFs) and individual securities.
40957_Virginia_VRS 4/10/12 7:46 PM Page 1
