| 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 | |||||||||
| 6/30/2003 | $8,058.6 | $14,223.8 | $6,165.2 | 56.7% | $2,654.3 | 232.3% | |||
| 6/30/2004 | $8,238.3 | $15,128.5 | $6,890.2 | 54.5% | $2,816.7 | 244.6% | |||
| 6/30/2005 | $8,517.7 | $15,987.5 | $7,469.8 | 53.3% | $2,980.1 | 250.7% | |||
| 6/30/2006 | $8,951.4 | $16,830.3 | $7,878.9 | 53.2% | $3,107.9 | 253.5% | |||
| 6/30/2007 | $9,585.1 | $17,888.1 | $8,303.0 | 53.6% | $3,310.4 | 250.8% | |||
| 6/30/2008 | $9,990.2 | $19,243.4 | $9,253.2 | 51.9% | $3,497.4 | 264.6% | |||
| TRS | |||||||||
| 6/30/2003* | - | - | - | - | - | - | |||
| 6/30/2004 | $9,846.7 | $15,070.5 | $5,223.8 | 65.3% | $2,930.8 | 178.2% | |||
| 6/30/2005 | - | - | - | - | - | - | |||
| 6/30/2006 | $10,190.3 | $17,112.8 | $6,922.5 | 59.5% | $3,137.7 | 220.6% | |||
| 6/30/2007* | - | - | - | - | - | - | |||
| 6/30/2008 | 15,271.00 | 21,801.00 | $6,530.0 | 70.0% | 3,399.30 | 192.1% | |||
| 6/30/2008* | $- | $2,318.8 | $2,318.8 | 0.0% | $3,399.3 | 68.2% | |||
* No actuarial valuations were performed.
| JRS | ||||||
| 6/30/2003 | $142.8 | $211.1 | $68.3 | 67.6% | $27.8 | 245.7% |
| 6/30/2004 | $150.9 | $219.8 | $68.9 | 68.7% | $28.9 | 238.4% |
| 6/30/2005 | $160.3 | $235.0 | $74.7 | 68.2% | $30.2 | 247.8% |
| 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% |
| RTHP | ||||||
| 6/30/2008* | $- | $2,318.8 | $2,318.8 | 0.0% | $3,399.3 | 68.2% |
* Only one actuarial valuation is presented because GASB Statement No. 45 was implemented in the current fiscal year.