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 > Newsroom
 > 2018 News
 > VRS Receives Funding and Administration Award for 15th Consecutive Year

VRS Receives Funding and Administration Award for 15th Consecutive Year

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.

About Virginia Retirement System

VRS ranks as the 19th largest public or private pension fund in the U.S. and the 43rd largest in the world, serving approximately 705,000 active and inactive members, retirees and beneficiaries. Active members include about 147,000 teachers, 108,000 political subdivision employees and 88,000 state employees. VRS paid out approximately $4.6 billion in benefits to more than 206,000 retirees and beneficiaries in fiscal year 2018. About 86 percent of VRS retirees and beneficiaries reside in Virginia.

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