Notes to the Financial Statements

June 30, 2015

Note 12 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 Position (000's)
Connecticut
State State Municipal Probate
Employees' Teachers' Judicial Employees' Judges' Other Total
Assets
Current:
Cash and Cash Equivalents $ 4 $ 8,248 $ 12 $ 4,387 $ - $ 314 $ 12,965
Receivables:
Accounts, Net of Allowances 6,159 9,614 8 9,151 4 - 24,936
From Other Governments - 1,444 - - - - 1,444
From Other Funds 19 3 - 1 - - 23
Interest 297 638 3 45 2 - 985
Investments 10,662,217 16,109,803 189,523 2,200,632 89,152 1,522 29,252,849
Securities Lending Collateral 681,850 986,457 13,352 154,923 6,559 130 1,843,271
Noncurrent:
Due From Employers - - - 240,962 - - 240,962
Total Assets 11,350,546 17,116,207 202,898 2,610,101 95,717 1,966 31,377,435
Liabilities
Accounts Payable and Accrued Liabilities $ 41 $ 8,040 $ - $ - $ - $ - $ 8,081
Securities Lending Obligation 681,850 986,458 13,352 154,923 6,559 130 1,843,272
Due to Other Funds - 1,656 - - 17 - 1,673
Total Liabilities 681,891 996,154 13,352 154,923 6,576 130 1,853,026
Net Position
Held in Trust For Employee
Pension Benefits 10,668,655 16,120,053 189,546 2,455,178 89,141 1,836 29,524,409
Total Net Assets $ 10,668,655 $ 16,120,053 $ 189,546 $ 2,455,178 $ 89,141 $ 1,836 $ 29,524,409
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 $ 187,339 $ 228,100 $ 1,791 $ 16,726 $ 235 $ 43 $ 434,234
State 1,371,649 984,110 17,731 - - - 2,373,490
Municipalities - - - 113,515 - - 113,515
Total Contributions 1,558,988 1,212,210 19,522 130,241 235 43 2,921,239
Investment Income 328,107 503,807 5,330 61,584 2,453 26 901,307
Less: Investment Expenses (33,126) (50,865) (539) (6,217) (248) (2) (90,997)
Net Investment Income 294,981 452,942 4,791 55,367 2,205 24 810,310
Transfer In - 8,313 - - - - 8,313
Other 244 62,570 - - 1,370 - 64,184
Total Additions 1,854,213 1,736,035 24,313 185,608 3,810 67 3,804,046
Deductions
Administrative Expense 783 - - - - - 783
Benefit Payments and Refunds 1,657,585 1,823,737 22,552 132,670 4,925 - 3,641,469
Other - - - 49 - - 49
Total Deductions 1,658,368 1,823,737 22,552 132,719 4,925 - 3,642,301
Changes in Net Assets 195,845 (87,702) 1,761 52,889 (1,115) 67 161,745
Net Position Held in Trust For
Employee Pension Benefits:
Beginning of Year (as restated) 10,472,810 16,207,755 187,785 2,402,289 90,256 1,769 29,362,664
End of Year $ 10,668,655 $ 16,120,053 $ 189,546 $ 2,455,178 $ 89,141 $ 1,836 $ 29,524,409