RICHMOND, November 9, 2017 — For the 14th year, the Virginia Retirement System (VRS) has received an award from the Public Pension Coordinating Council (PPCC).
The PPCC Public Pension Standards Award for Funding and Administration reflects expectations for managing, administering and funding public retirement systems like VRS. The 2017 award recognizes VRS' funding adequacy, comprehensive benefit program, actuarial valuation, audit, investments and communications.
"We are deeply appreciative of PPCC's recognition of the quality of service VRS strives to provide," said Patricia S. "Trish" Bishop, director of VRS. "I also commend our staff for their exceptional performance and commitment to sound financial stewardship and delivery of benefits to our members, retirees, beneficiaries and participating employers across the state."
The PPCC is a coalition 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.