The Virginia Retirement System (VRS) recently reported a 6.1 percent return on its investment portfolio for the previous fiscal year, ending the year with approximately $105 billion in assets. The rate of return for the three-, five-, and 10-year periods exceeded benchmarks. The health and well-being of VRS is important to local governments as it administers retirement programs and other benefit programs for state and local government employees, including teachers. VRS receives funds from employer contributions, employee contributions, and investment income.
The major asset classes performed as follows for the fiscal year ending June 30, 2023:
- Public equity program returned 15.6%
- Fixed income program returned 0.5%
- Credit strategies program returned 5.7%
- Real assets program returned 1.7%
- Private equity program returned -0.7%
- Private investment partnerships 1.9%
- Multi-asset public strategies 7.7%
VRS serves more than 799,000 active and retired members. Based on assets, VRS is the 14th largest public and private pension systems in the United States, and 42nd largest in the world.
VACo Contact: Jeremy R. Bennett