| Pension and Other Postemployment Benefit Plans | |||||||
| Required Supplementary Information | |||||||
| Schedules of Funding Progress | |||||||
| (Expressed in Millions) | |||||||
| (a) | (b) | (b-a) | (a/b) | (c) | ((b-a)/c) | ||
|---|---|---|---|---|---|---|---|
| Actuarial Valuation Date |
Actuarial Value of Assets |
Actuarial Accrued Liability (AAL) |
Unfunded AAL (UAAL) |
Funded Ratio |
Covered Payroll |
UAAL as a Percentage of Covered Payroll |
|
| SERS | |||||||
| 6/30/2005 | $8,517.7 | $15,987.5 | $7,469.8 | 53.3% | $2,980.1 | 250.7% | |
| 6/30/2006 | $8,951.1 | $16,830.3 | $7,879.2 | 53.2% | 3107.9 | 253.5% | |
| 6/30/2007 | $9,585.1 | $17,888.1 | $8,303.0 | 53.6% | 3310.4 | 250.8% | |
| 6/30/2008 | $9,990.2 | $19,243.4 | $9,253.2 | 51.9% | 3497.4 | 264.6% | |
| 6/30/2009 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2010 | $9,349.6 | $21,054.2 | $11,704.6 | 44.4% | $3,295.7 | 355.1% | |
| 6/30/2011 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2012 | $9,745.0 | $23,018.8 | $13,273.8 | 42.3% | $3,354.7 | 395.7% | |
| 6/30/2013 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2014 | $10,584.8 | $25,505.6 | $14,920.8 | 41.5% | $3,487.6 | 427.8% | |
| *No actuarial valuation was performed. | |||||||
| TRS | |||||||
| 6/30/2005 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2006 | $10,190.3 | $17,112.8 | $6,922.5 | 59.5% | $3,137.7 | 220.6% | |
| 6/30/2007 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2008 | $15,271.0 | $21,801.0 | $6,530.0 | 70.0% | $3,399.3 | 192.1% | |
| 6/30/2009 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2010 | $14,430.2 | $23,495.9 | $9,065.7 | 61.4% | $3,646.0 | 248.6% | |
| 6/30/2011 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2012 | $13,734.8 | $24,862.2 | $11,127.4 | 55.2% | $3,652.5 | 304.7% | |
| 6/30/2013 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2014 | $15,546.5 | $26,349.2 | $10,802.7 | 59.0% | $3,831.6 | 281.9% | |
| *No actuarial valuation was performed. | |||||||
| JRS | |||||||
| 6/30/2005 | $160.3 | $235.0 | $74.7 | 68.2% | $30.2 | 247.4% | |
| 6/30/2006 | $169.7 | $246.9 | $77.2 | 68.7% | $31.8 | 242.8% | |
| 6/30/2007 | $182.4 | $261.2 | $78.8 | 69.8% | $33.8 | 233.1% | |
| 6/30/2008 | $191.7 | $267.0 | $75.3 | 71.8% | $34.0 | 221.5% | |
| 6/30/2009 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2010 | $179.7 | $276.8 | $97.1 | 64.9% | $31.6 | 307.3% | |
| 6/30/2011 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2012 | $174.7 | $319.5 | $144.8 | 54.7% | $30.3 | 477.9% | |
| 6/30/2013 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2014 | $190.1 | $343.9 | $153.8 | 55.3% | $33.4 | 460.4% | |
| *No actuarial valuation was performed. | |||||||
| RTHP | |||||||
| 6/30/2008 | $- | $2,318.8 | $2,318.8 | 0.0% | $3,399.3 | 68.2% | |
| 6/30/2009 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2010 | $- | $2,997.8 | $2,997.8 | 0.0% | $3,646.0 | 82.2% | |
| 6/30/2011 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2012 | $- | $3,048.3 | $3,048.3 | 0.0% | $3,652.5 | 83.5% | |
| 6/30/2013 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2014 | $- | $2,433.0 | $2,433.0 | 0.0% | $3,831.6 | 63.5% | |
| Actuarial valuations for other postemployment benefit plans are required to be disclosed starting with fiscal year 2008. | |||||||
| SEOPEBP | |||||||
| 6/30/2011 | $49.6 | $17,954.3 | $17,904.7 | 0.3% | $3,902.2 | 458.8% | |
| 6/30/2012 | * | $- | $- | $- | 0.0% | $- | 0.0% |
| 6/30/2013 | $143.8 | $19,676.3 | $19,532.5 | 0.7% | $3,539.7 | 551.8% | |
| 6/30/2014 | * | $- | $- | $- | 0.0% | $- | 0.0% |
* No actuarial valuation was performed.
Actuarial valuations for other postemployment benefits are required to be disclosed starting with fiscal year 2008.
June 30,2011 was the first year an actuarial valuation for State Employees Other Postemployment Benefit Plan was performed.