RICHMOND, November 12, 2021 — The Virginia Retirement System has received awards for its Comprehensive Annual Financial Report and Popular Annual Financial Report (PAFR) for fiscal year 2020 from the Government Finance Officers Association of the United States and Canada (GFOA). This is the 39th consecutive award for the comprehensive report and the fifth consecutive award for the PAFR.

The Certificate of Achievement for Excellence in Financial Reporting awarded to the VRS comprehensive annual financial report recognizes excellence in governmental accounting and financial reporting. The PAFR received an Award for Outstanding Achievement in Popular Annual Financial Reporting for its concise summary of financial, investment and statistical information derived from the comprehensive report.

GFOA commended VRS for demonstrating a constructive “spirit of full disclosure” in communicating its financial story and motivating readership of the comprehensive report, and for the reader appeal, understandability, creativity and distribution of the popular report.

“We are honored to receive the Certificate of Achievement, GFOA’s highest form of recognition in the area of government accounting and financial reporting,” VRS Director Patricia S. Bishop said. “This award represents a tradition of excellence maintained over many years. It also demonstrates our team’s continuing commitment to delivering transparency while producing an engaging, comprehensive resource that communicates VRS’s financial position with clarity.”

GFOA is a professional association serving more than 21,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. For more information on the awards and GFOA, visit and

Media Contact

Jeanne Chenault
Director of Public Relations