Notes to the Financial Statements

June 30, 2013

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 fundís equity in the Combined Investment Funds.

    Statement of Fiduciary Net Position (000's)
            Connecticut          
   State    State       Municipal    Probate       
   Employees'    Teachers'    Judicial    Employees'    Judges'    Other    Total
Assets         
Cash and Cash Equivalents    $-    $-    $18    $22,996    $-    $279    $23,293
Receivables:                      
Accounts, Net of Allowances    5,840    11,588    8    8,858    4    -    26,298
From Other Governments    -    347    -    -    -    -    347
From Other Funds    10    2    -    1    -    -    13
Interest    196    255    2    13    1    -    467
Investments    9,179,573    14,453,544    168,327    1,828,132    81,893    1,272    25,712,741
Securities Lending Collateral    887,939    1,390,000    17,116    186,402   8,692   167    2,490,316
Total Assets    10,073,558    15,855,736    185,471    2,046,402    90,590    1,718    28,253,475
Liabilities
Accounts Payable and Accrued Liabilities    30    -    -    -    -    -    30
Securities Lending Obligation    887,939    1,390,000    17,116    186,402   8,692   167    2,490,316
Due to Other Funds    2,970    2,833    -    -    -    -    5,803
Total Liabilities    890,939    1,392,833    17,116    186,402    8,692    167    2,496,149
Net Position
Held in Trust For Employee
Pension Benefits    9,182,619    14,462,903    168,355    1,860,000    81,898    1,551    25,757,326
Total Net Assets    $9,182,619    $14,462,903    $168,355    $1,860,000    $81,898    $1,551    $25,757,326

  Statement of Changes in Fiduciary Net Position (000's)
        Connecticut      
   State    State      Municipal    Probate       
   Employees'    Teachers'    Judicial    Employees'    Judges'    Other    Total
Additions                    
Contributions:                    
Plan Members    $164,000    $274,880    $1,520    $13,163    $200    $38    $453,801
State    1,058,113    787,536    16,006    -    -    -    1,861,655
Municipalities    -    14    -    116,329    -    -    116,343
Total Contributions    1,222,113    1,062,430    17,526    129,492    200    38    2,431,799
Investment Income    1,012,054    1,607,248    15,316    163,267    7,510    55    2,805,450
Less: Investment Expenses    (31,259)    (49,642)    (473)    (5,043)    (232)    (1)    (86,650)
Net Investment Income    980,795    1,557,606    14,843    158,224    7,278    54    2,718,800
Transfers In    -    -    -    -    -    -    -
Other    -    1,118    -    715 842    -    2,675
Total Additions    2,202,908    2,621,154    32,369    288,431    8,320  92    5,153,274
Deductions                      
Administrative Expense    717    -    31    -    -    -    748
Benefit Payments and Refunds    1,487,694    1,640,387    20,902    115,008    4,501    1    3,268,493
Other    519    -    -    -    -    -    519
Total Deductions    1,488,930    1,640,387    20,933    115,008    4,501    1    3,269,760
Changes in Net Assets    713,978    980,767    11,436    173,423   3,819 91    1,883,514
Net Position Held in Trust For                     
Employee Pension Benefits:              
Beginning of Year    8,468,641    13,482,136    156,919    1,686,577    78,079    1,460    23,873,812
End of Year    $9,182,619    $14,462,903    $168,355    $1,860,000    $81,898    $1,551    $25,757,326