VRS Excels in Public Pension Standards

Richmond, Va. Nov. 2, 2004 - The Virginia Retirement System has received the Achievement Award from the Public Pension Coordinating Council (PPCC) for the second year in a row. The award recognizes VRS for excellence in meeting professional standards for plan design and administration as set forth in the Public Pension Standards.

Developed by the PPCC to promote excellence among state and local public retirement systems, the Public Pension Standards are the benchmark for measuring defined benefit plans. The purpose of the award is to promote high professional standards for public employee retirement systems and to publicly commend the systems that adhere to the standards of excellence.

"Our mission is to provide financial security for our members and their beneficiaries. Excellence in plan administration is vital to fulfilling our mission. This award says a great deal about the commitment of the VRS staff to that excellence," said W. Forrest Matthews, Jr., director of VRS.

PPCC is a coalition of the National Association of State Retirement Administrators (NASRA), the National Council on Teacher Retirement (NCTR) and the National Conference on Public Employee Retirement Systems (NCPERS).

VRS is the 30th largest public or private pension fund in the United States with a $40-billion portfolio.

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