State of Connecticut

Notes to the Financial Statements

June 30, 2011

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 $1,627 $971 $- $385 $- $249 $3,232
Receivables:
Accounts, Net of Allowances 2,510 7,371 8 8,788 4 - 18,681
From Other Governments - 1,276 - - - - 1,276
From Other Funds 3 9 - - - - 12
Interest 265 561 4 47 4 - 881
Investments 8,980,629 14,143,320 158,886 1,697,937 81,789 1,112 25,063,673
Securities Lending Collateral 1,120,350 1,734,341 24,357 242,783 11,542 161 3,133,534
Total Assets 10,105,384 15,887,849 183,255 1,949,940 93,339 1,522 28,221,289
Liabilities
Accounts Payable and Accrued Liabilities 12 - - - - - 12
Securities Lending Obligation 1,120,350 1,734,341 24,357 242,783 11,542 161 3,133,534
Due to Other Funds - 1,271 - - 192 - 1,463
Total Liabilities 1,120,362 1,735,612 24,357 242,783 11,734 161 3,135,009
Net Assets
Held in Trust For Employee
Pension Benefits 8,985,022 14,152,237 158,898 1,707,157 81,605 1,361 25,086,280
Total Net Assets $8,985,022 $14,152,237 $158,898 $1,707,157 $81,605 $1,361 $25,086,280

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 $67,679 $253,925 $1,566 $16,307 $328 $38 $339,843
State 825,801 581,593 - - - - 1,407,394
Municipalities - - - 51,126 - - 51,126
Total Contributions 893,480 835,518 1,566 67,433 328 38 1,798,363
Investment Income 1,657,847 2,570,338 27,516 266,655 13,082 101 4,535,539
Less: Investment Expenses (34,184) (53,003) (567) (5,498) (270) (2) (93,524)
Net Investment Income 1,623,663 2,517,335 26,949 261,157 12,812 99 4,442,015
Transfers In - - - - 3,665 - 3,665
Other 476 452 - 1,138 10 - 2,076
Total Additions 2,517,619 3,353,305 28,515 329,728 16,815 137 6,246,119
Deductions
Administrative Expense 346 - 11 - - - 357
Benefit Payments and Refunds 1,323,593 1,485,398 19,390 100,475 3,604 1 2,932,461
Other - - - 3 3,465 - 3,468
Total Deductions 1,323,939 1,485,398 19,401 100,478 7,069 1 2,936,286
Changes in Net Assets 1,193,680 1,867,907 9,114 229,250 9,746 136 3,309,833
Net Assets Held in Trust For
Employee Pension Benefits:
Beginning of Year 7,791,342 12,284,330 149,784 1,477,907 71,859 1,225 21,776,447
End of Year $8,985,022 $14,152,237 $158,898 $1,707,157 $81,605 $1,361 $25,086,280