RICHMOND, November 13, 2018 — The Virginia Retirement System (VRS) has received the Public Pension Coordinating Council (PPCC) Award for Funding and Administration for the 15th consecutive year.
The award recognizes the agency's fulfillment of public pension standards for management, administration and funding. The 2018 award points to excellence in VRS' funding adequacy, comprehensive benefit program, actuarial valuation, audit, investments and communications.
"Our commitment to sound financial stewardship and superior customer service is reflected in this award," VRS Director Patricia S. "Trish" Bishop said. "We thank PPCC for once again recognizing VRS' performance. We strive to not only meet, but exceed these requirements."
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 state and local government employees.