Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2002 BASIC FINANCIAL STATEMENTS Required Supplementary Information Schedules of Funding Progress

State of Connecticut

Required Supplementary Information
Schedules of Funding Progress
(Expressed in Millions)
(a) (b) (b-a) (a/b) (c) ((b-a)/c)
Actuarial Actuarial Unfunded UAAL 
as a
Valuation Value
 of
Actuarial
Accrued
AAL Funded Covered Percentage 
of
Date Assets Liability
  (AAL)
(UAAL) Ratio Payroll Covered 
Payroll
SERS              
6/30/1997   $5,131.0 $8,833.2 $3,702.2 58.1% $2,225.2 166.4%
6/30/1998   $5,669.9 $9,592.4 $3,922.5 59.1% $2,339.0 167.7%
6/30/1999 * - - - - - -
6/30/2000   $7,196.0 $11,512.1 $4,316.1 62.5% $2,651.9 162.8%
6/30/2001   $7,638.9 $12,105.4 $4,466.5 63.1% $2,784.5 160.4%
6/30/2002   $7,893.7 $12,806.1 $4,912.4 61.6% $2,852.1 172.2%

*No actuarial valuation was performed as of June 30, 1999

TRS              
6/30/1997 * - - - - - -
6/30/1998   $7,721.1 $10,970.1 $3,249.0 70.4% $2,298.9 141.3%
6/30/1999 * - - - - - -
6/30/2000   $9,605.9 $11,797.6 $2,191.7 81.4% $2,501.5 87.6%
6/30/2001 * - - - - - -
6/30/2002   $10,387.3 $13,679.9 $3,292.6 75.9% $2,698.3 122.0%

*No actuarial valuation was performed as of June 30, 1997, 1999 and 2001

JRS              
9/30/1997   $87.8 $167.5 $79.7 52.4% $20.2 394.6%
6/30/1998   $98.1 $168.1 $70.0 58.4% $21.2 330.2%
6/30/1999   $110.7 $172.5 $61.8 64.2% $21.9 282.2%
6/30/2000   $123.4 $181.7 $58.3 67.9% $24.1 241.9%
6/30/2001   $133.1 $193.8 $60.7 68.7% $26.3 230.8%
6/30/2002   $138.4 $209.4 $71.0 66.1% $28.9 245.7%
               
MERS              
6/30/1996   $782.0 $692.2 $(89.8) 113.0% $242.8 (37.0)%
6/30/1997   $872.0 $731.1 $(140.9) 119.3% $246.0 (57.3)%
6/30/1998   $980.4 $814.1 $(166.3) 120.4% $258.2 (64.4)%
6/30/1999   $1,100.7 $860.1 $(240.6) 128.0% $269.4 (89.3)%
6/30/2000   $1,251.6 $1,153.2 $(98.4) 108.5% $290.3 (33.9)%
6/30/2001   $1,353.1 $1,238.1 $(115.0) 109.3% $311.2 (37.0)%

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.