diff --git a/VERSION b/VERSION
index be2ea945d8..8c88236c86 100644
--- a/VERSION
+++ b/VERSION
@@ -15,14 +15,14 @@
 # major, minor, and release are generally combined in the form
 # <major>.<minor>.<release>.
 
-major=4
+major=3
 minor=0
-release=0
+release=1
 
 # PRRTE required dependency versions.
 # List in x.y.z format.
 
-pmix_min_version=4.1.2
+pmix_min_version=4.2.4
 hwloc_min_version=1.11.0
 event_min_version=2.0.21
 automake_min_version=1.13.4
@@ -89,12 +89,12 @@ date="Nov 24, 2018"
 # Version numbers are described in the Libtool current:revision:age
 # format.
 
-libprrte_so_version=4:0:0
+libprrte_so_version=3:1:0
 
 # "Common" components install standalone libraries that are run-time
 # linked by one or more components.  So they need to be versioned as
 # well.  Yuck; this somewhat breaks the
 # components-don't-affect-the-build-system abstraction.
 
-libprrte_common_alps_so_version=4:0:0
+libprrte_common_alps_so_version=3:0:0
 
diff --git a/docs/news/index.rst b/docs/news/index.rst
index c1f748f890..dc45b7bfc6 100644
--- a/docs/news/index.rst
+++ b/docs/news/index.rst
@@ -35,6 +35,6 @@ included in the vX.Y.Z section and be denoted as:
 .. toctree::
    :maxdepth: 1
 
-   news-v3.x
+   news-v3.0
    news-v2.x
    news-v1.x
diff --git a/docs/news/news-v3.x.rst b/docs/news/news-v3.0.rst
similarity index 98%
rename from docs/news/news-v3.x.rst
rename to docs/news/news-v3.0.rst
index 80cb314fc4..8ceafed692 100644
--- a/docs/news/news-v3.x.rst
+++ b/docs/news/news-v3.0.rst
@@ -1,7 +1,7 @@
 PRRTE v3.x series
 =================
 
-This file contains all the NEWS updates for the PRRTE v3.x
+This file contains all the NEWS updates for the PRRTE v3.0
 series, in reverse chronological order.
 
 3.0.1 -- 27 Sep 2023
@@ -14,6 +14,7 @@ series, in reverse chronological order.
                continue to improve and correct the documents in future
                releases.
 
+- PR #1818: Update VERSION and rename news file
 - PR #1816: Correct confusion over help file names
 - PR #1814: Update NEWS infrastructure
 - PR #1810: Blacklist the HWLOC GL component to avoid deadlock