Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, December 7, 1993                   TAG: 9312070014
SECTION: BUSINESS                    PAGE: B6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

REPORTED EARNINGS

Virginia Retirement System, Richmond-based administrator of retirement and pension plans for public employees of state agencies, local school boards and other political subdivisions, reported earning a record $1.1 billion on its investments in the fiscal year ended June 30, up 1.7 percent from $1 billion a year earlier. The rate of return was 11.5 percent, up from 11.2 percent a year earlier. The system's investment pool was $16 billion at the end of the 1993 fiscal year.

Contributions to the fund were $718.6 million in fiscal 1993, down 4.6 percent from $753.5 million in fiscal 1992. Net income was $1.11 billion, down 7.4 percent from $1.2 billion a year earlier.