Michael Desai

Virginia Retirement System

The Virginia Retirement System, an independent state agency, administers defined benefit, defined contribution and hybrid plans along with other benefits for Virginia's public sector employees. We are headquartered in Richmond, Virginia. VRS ranks as the 17th largest public or private pension fund in the U.S. and the 42nd largest in the world, serving approximately 778,000 active and inactive members, retirees and beneficiaries. Active members include about 153,000 teachers, 110,000 political subdivision employees and 76,000 state employees. VRS paid out approximately $5.7 billion in benefits to more than 231,000 retirees and beneficiaries in FY 2022. About 86% of VRS retirees and beneficiaries reside in Virginia. Find VRS on Facebook and Join the Conversation: @VirginiaRetirementSystem. The VRS and myVRS logos are registered trademarks of the Virginia Retirement System.