Transcription of 2017 Popular Annual Report - varetire.org
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2017 Popular Annual Report - varetire.org
Popular Annual . FINANCIAL Report . A summary of VRS financial, investment and statistical information for our stakeholders above the VRS Board policy benchmark, resulting in about $ billion in excess dollars over the past 10 years. In addi- A Message tion, VRS saves approximately $41 mil- From the VRS lion per year in external management fees Director by directly managing about one-third of the plan assets in-house. Considering Patricia S. Bishop that two-thirds of retirement benefits are VRS is the funded through investment earnings, the investment team's efforts help ensure 20th Largest public or private pension that those we serve will enjoy benefits for Dear Members, Retirees and Employers: system in the , years to come. based on assets At VRS, we conduct our day-to-day busi- As members take an even more active ness with four ethical principles in mind: role in planning for retirement during integrity, accountability, confidentiality their working years, we're focused on and inclusivity.
4 | POPULAR ANNUAL FINANCIAL REPORT 2017 Fiscal Year 2017 Highlights • $75.1 billion combined total net position of trust fund Up 10% from fiscal year 2016 • 12.1% rate of return on investments An increase over the 1.9% return in fiscal year 2016 Plan fiduciary net position as a
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