Tag: VRS
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VRS Hybrid Plan Drawing Even Fewer Contributions
The percentage of state employees making voluntary contributions to their own retirement pot, contributions which are matched with free money, has continued its rapid decline over the past year. As of March 2019, fewer than half of state employees who should be investing in their own retirement are doing so, according to a Virginia Retirement…
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Fully Funded? Not Even Close
by James A. Bacon Earlier this month the Virginia Retirement System (VRS) announced that it had generated a 15.7% return on its investment portfolio over the previous year, bringing its total assets to $66.1 billion. It’s always good news when the pension fund for 600,000 state and local employees and retirees goes up, not down. That’s…
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Forget FOREX, VRS’ problem is with active management
by Norm Leahy The headline news is that Virginia and Florida are suing Bank of New York Mellon for “…cheat[ing] pension funds in those states by choosing improper prices for currency trades the bank processed for the funds. But the real headline story that, so far, I’ve only seen posted here, is how Virginia’s public…