Investor Presentaiton
17
Funded Status: State
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
3.0.0%
20.0%
10.0%
88.0%
84.0%
RS
New GASB accounting rules reflect
funded status on the market value basis
beginning in 2014
The funded status for FY 2023 based on
the actuarial value of assets was 79.0%
75.2%
70.6%
65.6%
65.1% 74.1%
71.2%
71.5%-76.3%
80.2%
81.0%
81.7%
82.4%
83.3%
83.9%
Virginia
Retirement
System
State Plan
Unfunded
Liability as of
6/30/2023
$6.1 Billion
using
Actuarial
Assets
$5.8 Billion
using
Market
Assets
0.0%
76.8%
75.2%
2008
up to 2013 & Market Value of Assets 2014 Forward
Notes:
2009
Historical Funded Status - Actuarial Value of Assets
72.9%
86.5%
81.3%
2010
2011
2012
2013
2014
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.
2015
2016
2017
2018
2019
2020
2021
2022
Projected Funded Status using Market Value of Assets
(New GASB Standard)
2023
2024
2025
2026
2027
2028View entire presentation