State of Connecticut Comprehensive Annual Financial Report Fiscal Year Ended June 30, 1999 - Required Supplementary Information - Schedules of Employer Contributions

State of Connecticut

Required Supplementary Information
Schedules of Employer Contributions
(Expressed in Millions)
SERS TRS JRS MERS PJRS
Annual Annual Annual Annual Annual
Fiscal Required Percentage Required Percentage Required Percentage Required Percentage Required Percentage
Year Contrib-
ution
Contrib-
uted
Contrib-
ution
Contrib-
uted
Contrib-
ution
Contrib-
uted
Contrib-
ution
Contrib-
uted
Contrib-
ution
Contrib-
uted
1994 $480.4 64.6% $145.8 85.2% $8.3 100.0% $23.1 100.0% $- 0.0%
1995 $535.3 54.3% $154.0 86.0% $9.0 100.0% $22.2 100.0% $- 0.0%
1996 $501.1 66.9% $164.7 85.0% $9.2 100.0% $23.2 100.0% $0.35 100.0%
1997 $542.8 64.3% $174.0 85.0% $9.3 100.0% $21.3 100.0% $0.32 100.0%
1998 $567.6 59.0% $211.0 85.0% $9.3 100.0% $18.8 100.0% $0.20 100.0%
1999 $315.6 100.0% $221.6 85.0% $9.3 100.0% $17.9 100.0% $0.02 100.0%
Note: During 1993-1995, the only contributions to the Probate Judges Retirement System were the required member contributions.
The information presented in the required supplementary schedules was determined as part of the actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation follows.
SERS TRS JRS MERS PJRS
Valuation date 6/30/98 6/30/98 9/30/98 6/30/98 12/31/98
Actuarial cost method Projected Entry age Projected Entry age Entry Age
unit credit unit credit
Amortization method Level percent Level percent Level percent Flexible -
of pay of pay of pay amortization
Remaining amortization
period 34 Years 15-34 Years 32 Years 24 Years -
Asset valuation method 5 year smoothed 4 year smoothed 4 year smoothed Adjusted Adjusted
market market market market Market
Actuarial assumptions:
Investment rate of return 8.5% 8.5% 8.5% 8.5% 8.5%
Projected salary increases 3.25-14.0% 5.0% 5.5% 7.0-7.5% 7.50%
Includes inflation at 6% 5% 5.5% 4.5% 3.5%
Cost-of-living adjustments 2.5-4% 3-5% 3.0-5.5% 3.0-5.0% 3%

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