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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

The Virginia Retirement System, an independent state agency based in Richmond, delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service. VRS ranks as the 18th largest public or private pension fund in the U.S. and the 41st largest in the world, serving more than 723,000 active and inactive members, retirees and beneficiaries. Members include public school teachers, political subdivision employees, state agency employees, public college and university personnel, state police, Virginia law officers and the judiciary.

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