|
Required Supplementary Information Schedules of Funding Progress |
|||||||
| (Expressed in Millions) | |||||||
|---|---|---|---|---|---|---|---|
|
Actuarial Valuation Date |
(a) Actuarial Value of Assets |
(b) Actuarial Accrued Liability (AAL) |
(b-a) Unfunded AAL (UAAL) |
(a/b) Funded Ratio |
(c) Covered Payroll |
((b-a)/c) UAAL as a Percentage of Covered Payroll |
|
| SERS | |||||||
| 6/30/95 | $4,209.2 | $7,838.2 | $3,629.0 | 53.7% | $2,325.8 | 156.0% | |
| 6/30/96 | $4,604.2 | $8,138.6 | $3,534.4 | 56.6% | $2,385.5 | 148.2% | |
| 6/30/97 | $5,131.0 | $8,833.2 | $3,702.2 | 58.1% | $2,225.2 | 166.4% | |
| 6/30/98 | $5,669.9 | $9,592.4 | $3,922.5 | 59.1% | $2,339.0 | 167.7% | |
| 6/30/99 | * | - | - | - | - | - | - |
| 6/30/00 | $7,196.0 | $11,512.1 | $4,316.1 | 62.5% | $2,651.9 | 162.8% | |
| *No actuarial valuation was performed as of June 30, 1999 | |||||||
| TRS | |||||||
| 6/30/95 | * | - | - | - | - | - | - |
| 6/30/96 | $6,648.2 | $9,626.8 | $2,978.6 | 69.1% | $2,151.6 | 138.4% | |
| 6/30/97 | * | - | - | - | - | - | - |
| 6/30/98 | $7,721.1 | $10,970.1 | $3,249.0 | 70.4% | $2,298.9 | 141.3% | |
| 6/30/99 | * | - | - | - | - | - | - |
| 6/30/00 | $9,605.9 | $11,797.6 | $2,191.7 | 81.4% | $2,501.5 | 87.6% | |
| *No actuarial valuations were performed as of June 30, 1995, 1997 and 1999 | |||||||
| JRS | |||||||
| 9/30/95 | $70.5 | $154.7 | $84.2 | 45.6% | $19.2 | 438.5% | |
| 9/30/96 | $77.8 | $161.5 | $83.7 | 48.2% | $19.5 | 429.2% | |
| 9/30/97 | $87.8 | $167.5 | $79.7 | 52.4% | $20.2 | 394.6% | |
| 6/30/98 | $98.1 | $168.1 | $70.0 | 58.4% | $21.2 | 330.2% | |
| 6/30/99 | $110.7 | $172.5 | $61.8 | 64.2% | $21.9 | 282.2% | |
| 6/30/00 | $123.4 | $181.7 | $58.3 | 67.9% | $24.1 | 241.9% | |
| MERS | |||||||
| 6/30/95 | $711.0 | $661.0 | $(50.0) | 107.6% | $237.0 | (21.1)% | |
| 6/30/96 | $782.0 | $692.2 | $(89.8) | 113% | $242.8 | (37.0)% | |
| 6/30/97 | $872.0 | $731.1 | $(140.9) | 119.3% | $246.0 | (57.3)% | |
| 6/30/98 | $980.4 | $814.1 | $(166.3) | 120.4% | $258.2 | (64.4)% | |
| 6/30/99 | $1,100.7 | $860.1 | $(240.6) | 128.0% | $269.4 | (89.3)% | |
| 6/30/00 | $1,251.6 | $1,153.2 | $(98.4) | 108.5% | $290.3 | (33.9)% | |
| PJRS | |||||||
For the Probate Judges Retirement System because the UAAL is zero, the actuarial cost method becomes the "aggregate cost method" and a schedule of funding progress is not required.