Overview

Virginia Retirement System (VRS) is the state system that manages retirement, disability, and survivor benefits for Virginia’s public servants, including teachers and state employees. Members and their employers contribute to retirement funds, which are invested and managed to pay future benefits. The funds are kept as independent trusts and overseen by a board with appointments shared by the Governor and the General Assembly. This makes VRS different from private pension plans because it is a government-run system with publicly controlled trusts and governance. Its goal is to provide stable, predictable financial support for its members and their beneficiaries throughout retirement and after.