Virginia Retirement System (VRS) vs Michigan Public School Employees Retirement System (MPSERS)
Side-by-side pension health comparison from DOL and public plan data
Virginia Retirement System (VRS) (B) and Michigan Public School Employees Retirement System (MPSERS) (C) are close on the LakeQuality rubric. Funding ratios sit at 75% and 60% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Virginia Retirement System (VRS) has a stronger Pension Health Score of 70/100 (B) compared to Michigan Public School Employees Retirement System (MPSERS) at 56/100 (C). Funding ratios differ by 14.7 percentage points (75.1% vs 60.4%). Virginia Retirement System (VRS) covers 740,000 participants.
| Metric | Virginia Retirement System (VRS) | Michigan Public School Employees Retirement System (MPSERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 70/100 (B)* | 56/100 (C) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 75.1%* | 60.4% |
| Total Assets | $87.0B | $54.0B |
| Total Liabilities | $115.8B | $89.4B* |
| Unfunded Liability | $28.8B* | $35.4B |
| Participants | 740,000 | 465,000 |
| 1-Year Investment Return | 6.0%* | 5.3% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | high |
| Sponsor | State of Virginia | State of Michigan |
Virginia Retirement System (VRS) has a stronger Pension Health Score of 70/100 (B) compared to Michigan Public School Employees Retirement System (MPSERS) at 56/100 (C). Funding ratios differ by 14.7 percentage points (75.1% vs 60.4%). Virginia Retirement System (VRS) covers 740,000 participants.