VRS Replaces Missing Checks

Richmond, Va., June 11, 2004—The Virginia Retirement System announced that it sent replacement payments today for 208 checks that turned up missing a few days ago after being delivered to the U.S. Postal Service.

Some recipients, 40, already have received their payments through direct deposit. The remaining individuals will receive paper checks, which will be sent today via overnight delivery (for Monday delivery). Checks going to post office boxes will be sent via priority mail.

Of the 208 original checks, 119 were refund checks to individuals who had left their VRS-covered positions. The remainder were miscellaneous payments to annuitants.

On learning of the problem, VRS immediately informed the Virginia Department of Treasury, which placed stop-payments on all the missing checks. VRS and Treasury plan to continue their efforts with the customer service office of the U.S. Postal Service to locate the missing checks.

Those with questions about their checks should call the VRS Customer Contact Center at 804-649-8059 (in Richmond) or toll free at 1-888-VARETIR (827-3847).

VRS is the 30th largest public or private pension fund in the United States with a $38 billion portfolio.

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