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 > Voluntary Contributions Campaign Receives National Recognition

Voluntary Contributions Campaign Receives National Recognition

RICHMOND, November 4, 2015 — The Virginia Retirement System recently received two 2015 Leadership Recognition Awards from the National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) for its Voluntary Contributions Campaign.

The campaign, designed to promote the importance of voluntary contributions to the Hybrid Retirement Plan, was recognized in the Participant Education and Effective Communication category, as well as the Plan Design and Administration category. NAGDCA presented the awards during its annual conference Sept. 27-30 in Indianapolis.

Making voluntary contributions is critical to attaining a sufficient benefit at retirement for VRS members in the new Hybrid Retirement Plan. The educational campaign resulted in increased plan knowledge among employers, and an increase in the number of hybrid plan members making voluntary contributions to their accounts.

"VRS' priority is to provide members with the information and tools they need to learn about and plan for their retirement," said VRS Director Patricia Bishop. "We're honored to receive national recognition for this campaign. But, more important, our goal is to help VRS members plan for retirement early in their careers and take action now to maximize their retirement savings."

VRS ranks as the 22nd largest public or private pension fund in the U.S. and the 49th largest in the world, serving approximately 660,000 members, retirees and beneficiaries. Members include about 146,000 teachers, 105,500 local government employees and 78,000 state employees. In addition, VRS provides benefits to more than 184,500 retirees and beneficiaries.

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