VRS 80 Years Celebration & Overview

100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% Funded Status: State 83.3% 85.1% 88.0% 84.0% 75.2% 70.6% 65.6% beginning in 2014 New GASB accounting rules reflect funded status on the market value basis 10.0% 0.0% 2006 2007 up to 2013 & Market Value of Assets 2014 Forward Notes: 2008 Historical Funded Status - Actuarial Value of Assets 2009 2010 2011 2012 2013 2014 Projected Funded Status using Market Value of Assets (New GASB Standard) Projected funded status based on assumed investment returns of 6.75% and inflation of 2.5%. GASB Accounting rules reflect funded status using Market Value of Assets effective 6/30/14 for Plan Reporting and 6/30/15 for Employer Reporting. Projections do not include the impacts of additional payments included in the Appropriation Act. 65.1% 74.1% 71.2% 71.5% 76.3% 76.8% 75.2% 86.5% 72.9% 87.2% 88.0% 88.8% The funded status for FY 2021 based on the actuarial value of assets was 77.1% 89.2% RS Virginia Retirement System 89.7% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Market Assets $3.6 Billion using State Plan Unfunded Liability as of 6/30/2021 $6.1 Billion using Actuarial Assets 30

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