VRS 80 Years Celebration & Overview

Funded Status: Political Subdivisions in Aggregate 120.0% 100.0% 80.0% 60.0% New GASB accounting rules reflect funded status on the market value basis beginning in 2014 86.5% 88.2% 88.7% 85.1% V Virginia Retirement RS System 40.0% 20.0% 77.7% 76.3% 73.3% 87.6% 75.3% 86.9% 84.2% 89.3% 0.0% 2006 2007 2008 2009 2010 Projected years' investment returns assume 6.75% with 2.5% inflation rate. 2011 2012 2013 2014 2015 Historical Funded Status - Actuarial Value of Assets up to 2013 & Market Value of Assets 2014 Forward Notes: " New GASB Accounting Rules will reflect funded status using Market Value of Assets effective 6/30/14 for Plan Reporting and 6/30/15 for Employer Reporting. 90.0% 87.0% 97.8% 83.9% 98.4% actuarial value of assets was 87.2% 99.3% The funded status for FY 2021 based on the 100.2% 100.6% 101.2% 2016 2017 2018 2019 2020 2021 2022 2023 Projected Funded Status using Market Value of Assets (New GASB Standard) 2024 2025 2026 Assets Market $0.6 Billion using Political Subdivisions in Aggregate Unfunded Liability as of 6/30/21 $3.5 Billion using Actuarial Assets 32

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