VRS Reports 0.6% Return for Fiscal Year 2022
The Virginia Retirement System achieved a 0.6% return, net of fees, on its investment portfolio for fiscal year 2022. The portfolio ended the year with approximately $101.2 billion.
“We registered a positive return by following VRS’ long-term strategy of diversification while taking advantage of strong private markets,” Chief Investment Officer Ronald D. Schmitz said. “Although the return was muted compared to last year’s banner 27.5%, the VRS total fund outperformed passively managed stock and bond indices by over 10%. In addition, we exceeded the assumed rate of return for the three-, five- and 10-year periods.”
Read the full release.
View Your Yearly Member Benefit Profile in myVRS
Your 2022 Member Benefit Profile (MBP) will soon be available in myVRS. Your MBP is an annual benefit statement based on information your employer reports to VRS as of June 30, 2022. It shows your account balance information, retirement eligibility and eligibility for other benefits, such as group life insurance and the health insurance credit.
Looking over your MBP provides an opportunity to assess and refocus your retirement goals. Are you on track with your savings? Can you afford to retire earlier than expected, or are there benefits to working longer? Used in conjunction with tools like the myVRS Benefit Estimator and the myVRS Retirement Planner, your MBP can kickstart your future planning.
Register for Live Member Education Webinars
Taking advantage of VRS member education sessions is one of the best ways to gain a deeper understanding of your benefits. Visit the VRS Education and Counseling page to register for upcoming live webinar sessions or watch recorded webinars at your own convenience.
Register for one of the following upcoming live webinar dates.
Are You Ready to Retire? – October 19
If you’re within five years of retirement, this presentation will help you learn about important decisions you’ll have to make, such as when to retire and selecting a benefit payout option.
Benefit Payout Options – October 24
Learn about the four payout options to choose from when retiring and how your benefit is calculated.
Health Insurance Credit – November 10
Find out more about the health insurance credit, if you’re eligible, how it’s calculated and how to claim it.
VRS Board Appoints Junkin as Chief Investment Officer
The VRS Board of Trustees recently appointed Andrew H. Junkin as chief investment officer effective January 2023.
Junkin comes to VRS in September from his role as CIO for Rhode Island, where he oversaw the state’s $10.5 billion pension plan, a $2 billion defined contribution plan and other funds. Previously, he was with Wilshire Consulting for 15 years, serving as president for five years. Junkin succeeds Ronald D. Schmitz who will retire January 2023. Schmitz will remain with VRS through the end of this year, working with Junkin to provide continuity and facilitate an effective transition.
See the full press release.
Updated Plan Handbooks Available Online
VRS member handbooks have recently been updated to reflect the latest legislative and administrative changes. Find the most up-to-date version of your plan handbook on the VRS Publications page.
When referencing printed or downloaded handbooks from VRS, check the date on the back cover to ensure you have the most recent version. It should match the date of the online version. Most handbooks, except the VRS Member Guide and the Hybrid Retirement Plan Handbook for Members, are no longer available in print.
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