Required Supplementary Information
Schedules of Funding Progress
June 30, 1997
(Expressed in Millions)
| (a) | (b) | (b-a) | (a/b) | (c) | ((b-a)/c) | ||
|---|---|---|---|---|---|---|---|
| Actuarial | Actuarial | Unfunded | UAAL as a | ||||
| Valuation | Value of | Actuarial Accrued | AAL | Funded | Covered | Percentage of | |
| Date | Assets | Liability (AAL) | (UUAL) | Ratio | Payroll | Covered Payroll | |
| SERS | |||||||
| 6/30/91 | $3,208.0 | $5,982.7 | $2,774.7 | 53.6% | $1,956.6 | 141.8% | |
| 6/30/92 | $3,425.9 | $6,668.7 | $3,242.8 | 51.4% | $1,931.4 | 167.9% | |
| 6/30/93 | $3,696.2 | $7,189.7 | $3,493.5 | 51.4% | $2,144.8 | 162.9% | |
| 6/30/94 | $3,944.5 | $7,329.2 | $3,384.7 | 53.8% | $2,155.9 | 157.0% | |
| 6/30/95 | $4,209.2 | $7,838.2 | $3,629.0 | 53.7% | $2,325.8 | 156.0% | |
| 6/30/96 | $4,604.2 | $8,335.1 | $3,730.9 | 55.2% | $2,385.5 | 156.4% | |
| TRS | |||||||
| 6/30/91 | $4,692.0 | $8,152.7 | $3,460.7 | 57.6% | $1,792.5 | 193.1% | |
| 6/30/92 | $4,848.0 | $7,278.2 | $2,430.2 | 66.6% | $1,841.9 | 131.9% | |
| 6/30/93 | * | - | - | - | - | - | - |
| 6/30/94 | $5,602.1 | $8,222.6 | $2,620.5 | 68.1% | $2,030.4 | 129.1% | |
| 6/30/95 | * | - | - | - | - | - | - |
| 6/30/96 | $6,648.2 | $9,626.8 | $2,978.6 | 69.1% | $2,151.6 | 138.4% | |
| *No actuarial valuations were performed as of June 30, 1993 and June 30, 1995. | |||||||
| JRS | |||||||
| 9/30/91 | $47.1 | $120.4 | $73.3 | 39.1% | $15.3 | 479.1% | |
| 9/30/92 | $52.0 | $130.6 | $78.6 | 39.8% | $16.2 | 485.2% | |
| 9/30/93 | $57.2 | $141.3 | $84.1 | 40.5% | $18.1 | 464.6% | |
| 9/30/94 | $63.2 | $148.0 | $84.8 | 42.7% | $18.5 | 458.4% | |
| 9/30/95 | $70.5 | $154.7 | $84.2 | 45.6% | $19.2 | 438.5% | |
| 9/30/96 | $77.8 | $161.5 | $83.7 | 48.2% | $19.5 | 429.2% | |
| MERS | |||||||
| 6/30/91 | $489.0 | $533.0 | $44.0 | 91.7% | $195.0 | 22.6% | |
| 6/30/92 | $545.0 | $539.0 | $(6.0) | 101.1% | $203.0 | (3.0)% | |
| 6/30/93 | $601.0 | $586.0 | $(15.0) | 102.6% | $214.6 | (7.0)% | |
| 6/30/94 | $653.0 | $635.0 | $(18.0) | 102.8% | $226.0 | (8.0)% | |
| 6/30/95 | $711.0 | $661.0 | $(50.0) | 107.6% | $237.0 | (21.1)% | |
| 6/30/96 | $782.0 | $692.2 | $(89.8) | 113.0% | $242.8 | (37.0)% | |
| PJRS | |||||||
| 6/30/90 | $28.8 | $27.5 | $(1.3) | 104.7% | $6.8 | (19.1)% | |
| 6/30/91 | $31.2 | $30.5 | $(0.7) | 102.3% | $7.7 | (9.1)% | |
| 6/30/92 | $33.0 | $32.5 | $(0.5) | 101.5% | $8.0 | (6.3)% | |
| 6/30/93 | $34.8 | $34.7 | $(0.1) | 100.3% | $8.2 | (1.2)% | |
| 6/30/94 | $36.2 | $40.3 | $4.1 | 89.8% | $8.6 | 47.7% | |
| 6/30/95 | $39.1 | $42.9 | $3.8 | 91.1% | $8.9 | 42.7% | |
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