VRS Receives NAGDCA Leadership Award

RICHMOND, Va., October 17, 2005—The National Association of Government Defined Contribution Administrators (NAGDCA) recognized the Virginia Retirement System (VRS) with the Leadership Award for its efforts to develop reports and benchmarking tools to monitor the goals in the Commonwealth of Virginia Deferred Compensation Plan. The award was presented at the NAGDCA annual conference held Sept. 17- 21, 2005 in Miami, Florida.

VRS instituted comprehensive weekly, monthly, quarterly and annual reporting by the service provider, Great West Retirement Services, to assist in its due diligence efforts and to provide data related to increasing the number of participants and retaining participants and assets in the plans.

VRS and Great West have been recognized by NAGDCA for several years in a row for the deferred compensation program. Last year, VRS received the leadership award for its regional deferred compensation plan participant education programs developed in partnership with the service provider.

VRS Director Robert P. Schultze said, “The Deferred Compensation Plan is an important retirement savings vehicle, and these reports give us the comprehensive data we need to monitor the vendor’s performance, measure progress toward attaining our goals for the plan, and target communication and education to eligible employees. We are honored to receive national recognition for leadership in this area.”

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