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 > Virginia Retirement System Receives Award for Excellence in Financial Reporting

Virginia Retirement System Receives Award for Excellence in Financial Reporting

RICHMOND, August 28, 2019 — For the 37th consecutive year, the Virginia Retirement System (VRS) has received an award for its Comprehensive Annual Financial Report (CAFR) from the Government Finance Officers Association of the United States and Canada (GFOA).

VRS was awarded the Certificate of Achievement for Excellence in Financial Reporting for governmental accounting and financial reporting.

In awarding the Certificate of Achievement, GFOA announced that "it is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management."

GFOA announced that VRS had met high standards and had demonstrated a constructive "spirit of disclosure" in communicating its financial story and in motivating potential users to read the CAFR and for clearly communicating its financial story.

"We are pleased and honored to be recognized by the GFOA for the quality of our annual financial report," VRS Director Patricia S. "Trish" Bishop said. "Our team works constantly to maintain high standards of transparency and clarity. We are always mindful of and motivated by our goal of providing exceptional customer service to our members and stakeholders."

GFOA is a professional association serving more than 20,000 appointed and elected local, state and provincial-level government officials and other finance practitioners.

For more information on the awards and GFOA, visit www.gfoa.org/cafr and www.gfoa.org/pafr.

About Virginia Retirement System

VRS, an independent state agency with a $79.2 billion portfolio, is the 19th largest public or private pension system in the U.S. and 43rd largest in the world, serving more than 706,000 members, retirees and beneficiaries. The agency delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service. Participating employers include state agencies, public colleges and universities, local public school divisions, state police officers, Virginia law officers, political subdivisions and the judiciary.

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