State of Connecticut

Notes to the Financial Statements

June 30, 2009

Note 13 Pension Trust Funds Financial Statements

The financial statements of the pension trust funds are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which the contributions are due. State contributions are recognized in the period in which the contributions are appropriated. Benefits and refunds are recognized when due and payable in accordance with the terms of each plan. Investment income and related expenses of the Combined Investment Funds are allocated ratably to the pension trust funds based on each fund's equity in the Combined Investment Funds.

Statement of Fiduciary Net Assets (000's)
Connecticut
State State Municipal Probate
Employees' Teachers' Judicial Employees' Judges' Other Total
Assets
Cash and Cash Equivalents $ - $ 2,729 $ 2 $ - $ - $ 220 $ 2,951
Receivables:
Accounts, Net of Allowances 2,289 9,216 7 5,219 4 - 16,735
From Other Governments - 3,104 - - - - 3,104
From Other Funds 21 144 - - - - 165
Interest 189 372 4 38 3 - 606
Investments 7,320,844 11,396,682 148,168 1,345,096 66,306 864 20,277,960
Securities Lending Collateral 1,216,042 1,834,046 29,704 262,857 12,018 145 3,354,812
Total Assets 8,539,385 13,246,293 177,885 1,613,210 78,331 1,229 23,656,333
Liabilities
Accounts Payable and Accrued Liabilities 64 - - - - - 64
Securities Lending Obligation 1,216,042 1,834,046 29,704 262,857 12,018 145 3,354,812
Due to Other Funds 499 1,567 - 1,128 15 - 3,209
Total Liabilities 1,216,605 1,835,613 29,704 263,985 12,033 145 3,358,085
Net Assets
Held in Trust For Employee
Pension Benefits 7,322,780 11,410,680 148,181 1,349,225 66,298 1,084 20,298,248
Total Net Assets $ 7,322,780 $ 11,410,680 $ 148,181 $ 1,349,225 $ 66,298 $ 1,084 $ 20,298,248

 

Statement of Changes in Fiduciary Net Assets (000's)
Connecticut
State State Municipal Probate
Employees' Teachers' Judicial Employees' Judges' Other Total
Additions
Contributions:
Plan Members $ 70,847 $ 241,145 $ 1,618 $ 15,337 $ 291 $ 38 $ 329,276
State 699,770 539,303 14,173 - - - 1,253,246
Municipalities - 156 - 35,937 - - 36,093
Total Contributions 770,617 780,604 15,791 51,274 291 38 1,618,615
Investment Income (1,673,282) (2,476,319) (25,788) (238,441) (12,083) (54) (4,425,967)
Less: Investment Expenses (35,132) (52,245) (541) (5,006) (254) - (93,178)
Net Investment Income (1,708,414) (2,528,564) (26,329) (243,447) (12,337) (54) (4,519,145)
Transfers In - - - - 2,703 - 2,703
Other - 277 - - - - 277
Total Additions (937,797) (1,747,683) (10,538) (192,173) (9,343) (16) (2,897,550)
Deductions
Administrative Expense 846 - 10 - - - 856
Benefit Payments and Refunds 1,070,474 1,396,098 18,522 90,925 3,095 2 2,579,116
Other - - 7 24 2,709 - 2,740
Total Deductions 1,071,320 1,396,098 18,539 90,949 5,804 2 2,582,712
Changes in Net Assets (2,009,117) (3,143,781) (29,077) (283,122) (15,147) (18) (5,480,262)
Net Assets Held in Trust For
Employee Pension Benefits:
Beginning of Year 9,331,897 14,554,461 177,258 1,632,347 81,445 1,102 25,778,510
End of Year $ 7,322,780 $ 11,410,680 $ 148,181 $ 1,349,225 $ 66,298 $ 1,084 $ 20,298,248