VRS Posts 6.1% Return Amidst Challenges

August 25, 2023

Virginia Retirement System Posts 6.1% Return Amidst Economic Challenges

In a year marked by economic turbulence, including high inflation, soaring interest rates, and global uncertainties stemming from the ongoing war in Ukraine, the Virginia Retirement System (VRS) managed to achieve a notable 6.1% return on its investments. This update comes from a recent report in the Richmond Times Dispatch.

Though the return falls slightly short of the annual 6.75% target the VRS sets to fulfill long-term commitments, the accomplishment exceeds the 5% estimate projected two months prior. This showcases the resilience and adaptability of the VRS amidst unpredictable financial climates.

Chief Investment Officer, Andrew Junkin, reflected on the year’s outcomes, stating in an interview, “Given everything that was going on… 6.1% doesn’t feel too bad.”

For members of the VGEA, this serves as a testament to the ongoing efforts of the VRS team to ensure the protection and growth of pensions for Virginia’s educators, state, and public employees. It underscores the unwavering commitment we share with the VRS to help ensure a secure future for Virginia’s workforce.

Read the full article from the Richmond Times-Dispatch.

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