Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Virginia Retirement System posts 9.99% fiscal-year return; trustees expected to consider lower employer contribution rates
Summary
Virginia Retirement System officials reported a 9.99% investment return for the year ending June 30, 2025, a $123 billion fund value and improved funded status. VRS staff said employer contribution rates are expected to decline slightly for the next biennium and previewed issues with the hybrid retirement plan.
Trish Bishop, director of the Virginia Retirement System, told the Joint Money Committee that VRS produced strong investment returns for the year ending June 30, 2025 and that the system’s funded status has improved, which should moderate employer contribution-rate pressure in the next biennium.
Bishop said the fund returned 9.99% for the fiscal year and the market value of assets stood at approximately $123,000,000,000 as of June 30, 2025. She said the one‑year return exceeded VRS’s long‑term actuarial assumption of 6.75% and that, on longer horizons, the system has outperformed its assumption across most multi‑year windows.
"Two thirds of benefit payments are funded by investment income," Bishop said, explaining…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
