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 > Virginia Retirement System Recognized for Public Pension Standards

Virginia Retirement System Recognized for Public Pension Standards

RICHMOND, February 1, 2017 — Virginia Retirement System (VRS) has received a 2016 Public Pension Standards Award for Funding and Administration from the Public Pension Coordinating Council (PPCC). The award recognizes the agency's fulfillment of public pension standards. The award marks the 13th one VRS has received from PPCC.

The Public Pension Standards provide a benchmark for public defined benefit plans. The PPCC is a confederation of the National Association of State Retirement Administrators, the National Council on Teacher Retirement and the National Conference on Public Employee Retirement Systems. The council represents more than 500 of the largest pension plans in the United States, serving most of the nation's 16 million employees of state and local government.

"We are deeply honored to receive this prestigious award," said Patricia S. "Trish" Bishop, director of VRS. "VRS is dedicated to maintaining the highest of standards as we work to serve those who serve others."

In addition to meeting the award's requirements for funding adequacy, VRS certified that it met the requirements in these areas of administration assessment: comprehensive benefit program, actuarial, audit, investments and communications. For more information on the award requirements, visit www.nasra.org/ppcc.

About Virginia Retirement System

VRS, an independent state agency with a $68 billion portfolio, is the 20th largest public or private pension system in the U.S. and 44th largest in the world, serving more than 678,000 members, retirees and beneficiaries. The agency delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service. Participating employers include state agencies, public colleges and universities, local public school divisions, state police officers, Virginia law officers, political subdivisions and the judiciary.

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