VRS Board Appoints Schultze as New Director

RICHMOND, Va., April 4 – The Virginia Retirement System (VRS) Board of Trustees has appointed Robert P. Schultze director of the retirement system, effective May 2, 2005, according to Paul W. Timmreck, board chair. Schultze succeeds W. Forrest Matthews, Jr. who retired April 1.

Schultze serves currently as executive commissioner with the Virginia Department of Taxation where he oversees operations, including audit and delinquent collections, customer service and return processing. He has held a variety of positions during his 29 years in service to the commonwealth, beginning in 1976 with the State Council of Higher Education. His experience includes service with the executive and legislative branches of Virginia government, including serving as deputy chief of staff to Virginia Governor L. Douglas Wilder and as staff director to the House Appropriations Committee.

As director, Schultze will oversee the administrative functions of the retirement system, including customer service delivery to its 798 employers, 119,000 retirees and 321,000 active members.

“We welcome the wealth of experience Bob brings to VRS. His leadership style and energy will assist the agency in its efforts to move forward to meet the growing needs of the members and retirees it serves,” said Timmreck.

With assets of about $43 billion, VRS is the 27th largest public or private pension system in the United States and the 51st largest internationally.

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