VRS Excels in Public Pension Standards

Richmond, VA Dec. 11, 2008 - The Virginia Retirement System (VRS) received the Achievement Award from the Public Pension Coordinating Council (PPCC) for the fourth consecutive year. The award recognizes VRS for excellence in meeting professional standards for plan funding and administration.

Developed by the PPCC to promote excellence among state and local public retirement systems, the Public Pension Standards are the benchmark for measuring current practices of defined benefit plans. The award is based on compliance with specific principles that underlie retirement system achievements in the areas of benefits, actuarial valuations, financial reporting, investing and disclosure to members.

"VRS is proud to receive such a prestigious award that recognizes the commitment of our staff and Board of Trustees to providing financial security for members, retirees and beneficiaries," said VRS Director Robert P. Schultze.

PPCC is comprised 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)