In an effort to save Virginia's taxpayers the costs associated with disbursing checks, a state agency has launched a new direct deposit program for government employees.

The agency, the Virginia Retirement System, was created in 1950 to disburse pension, health, and life insurance benefits to active and retired state employees. It has assets of about $20 billion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.