The Virginia Retirement System, an independent state agency, administers defined benefit, defined contribution and hybrid plans along with other benefits for Virginia's public sector employees. We are headquartered in Richmond, Virginia. VRS ranks as the 19th largest public or private pension fund in the U.S. and the 43rd largest in the world, serving approximately 705,000 active and inactive members, retirees and beneficiaries. Active members include about 147,000 teachers, 108,000 political subdivision employees and 88,000 state employees. VRS paid out approximately $4.6 billion in benefits to more than 206,000 retirees and beneficiaries in fiscal year 2018. About 86 percent of VRS retirees and beneficiaries reside in Virginia.