|
2001 (Preliminary) |
2000 |
1999 |
1998 |
1997 |
1996 |
1995 |
1994 |
1993 |
1992 |
1991 |
1990 |
1989 |
1988 |
1987 |
1986 |
|||||||||||||||||
|
Membership |
||||||||||||||||||||||||||||||||
|
Active Members |
151,413 |
135,560 |
137,528 |
136,166 |
130,865 |
129,431 |
126,612 |
120,199 |
114,932 |
110,100 |
107,025 |
102,664 |
99,515 |
95,224 |
92,497 |
89,336 |
||||||||||||||||
|
Service Retirees |
41,797 |
39,940 |
38,077 |
36,187 |
34,168 |
32,906 |
31,487 |
30,414 |
28,279 |
27,057 |
25,634 |
24,314 |
22,932 |
21,882 |
20,341 |
18,719 |
||||||||||||||||
|
Disabilitants |
1,468 |
1,397 |
1,301 |
1,223 |
1,115 |
1,051 |
959 |
871 |
794 |
781 |
739 |
708 |
689 |
650 |
645 |
633 |
||||||||||||||||
|
Survivors |
6,149 |
6,010 |
5,881 |
5,732 |
5,531 |
5,423 |
5,260 |
5,091 |
4,895 |
4,721 |
4,553 |
4,414 |
4,251 |
4,168 |
4,029 |
3,970 |
||||||||||||||||
|
Deferred Retirees |
22,352 |
21,495 |
16,340 |
10,817 |
10,817 |
8,605 |
7,156 |
6,277 |
5,402 |
4,502 |
3,655 |
2,699 |
2,349 |
2,094 |
2,152 |
1,746 |
||||||||||||||||
|
Nonvested Former Members |
74,666 |
79,362 |
18,491 |
15,162 |
15,162 |
11,448 |
9,683 |
9,180 |
9,307 |
8,711 |
7,995 |
7,695 |
6,805 |
6,621 |
40,185 |
40,023 |
||||||||||||||||
|
Total Membership |
297,845 |
283,764 |
217,618 |
205,287 |
197,658 |
188,864 |
181,157 |
172,032 |
163,609 |
155,872 |
149,601 |
142,494 |
136,541 |
130,639 |
159,849 |
154,427 |
||||||||||||||||
|
Funded Status |
||||||||||||||||||||||||||||||||
|
Accrued Liability |
$12,104,543,000 |
$11,133,682,000 |
$9,443,678,000 |
$8,769,303,000 |
$8,049,666,000 |
$7,270,073,000 |
$6,622,069,000 |
$6,223,622,000 |
$5,784,318,000 |
$5,439,953,000 |
$4,988,671,000 |
$4,560,469,000 |
$4,175,240,000 |
$3,755,608,000 |
$3,188,962,000 |
$2,925,006,000 |
||||||||||||||||
|
Current Assets |
$10,527,249,000 |
$9,609,367,000 |
$8,489,177,000 |
$7,636,668,000 |
$6,658,410,000 |
$5,786,398,000 |
$5,138,461,000 |
$4,747,128,000 |
$4,374,459,000 |
$3,978,110,000 |
$3,570,304,000 |
$3,297,216,000 |
$2,992,285,000 |
$2,657,038,000 |
$2,457,899,000 |
$2,148,114,000 |
||||||||||||||||
|
Unfunded Accrued Liability |
$1,577,294,000 |
$1,524,315,000 |
$954,501,000 |
$1,132,635,000 |
$1,391,256,000 |
$1,483,675,000 |
$1,483,608,000 |
$1,476,494,000 |
$1,409,859,000 |
$1,461,843,000 |
$1,418,367,000 |
$1,263,253,000 |
$1,182,955,000 |
$1,098,570,000 |
$731,063,000 |
$776,892,000 |
||||||||||||||||
|
Funding Ratio |
86.97% |
86.31% |
89.89% |
87.08% |
82.72% |
79.59% |
77.60% |
76.28% |
75.63% |
73.13% |
71.57% |
72.30% |
71.67% |
70.75% |
77.08% |
73.44% |
||||||||||||||||
|
Financing Requirements |
||||||||||||||||||||||||||||||||
|
Covered Payroll |
$3,820,084,000 |
$3,602,750,000 |
$3,544,488,000 |
$3,385,720,000 |
$3,214,578,000 |
$3,073,106,000 |
$2,930,993,000 |
$2,749,217,000 |
$2,578,604,000 |
$2,455,401,000 |
$2,286,179,000 |
$2,074,092,000 |
$1,932,674,000 |
$1,767,041,000 |
$1,645,876,000 |
$1,551,555,000 |
||||||||||||||||
|
Benefits Payable |
$592,209,000 |
$527,119,000 |
$467,602,000 |
$412,746,000 |
$342,154,000 |
$312,511,000 |
$290,483,000 |
$264,233,000 |
$236,420,000 |
$216,952,000 |
$198,324,000 |
$182,363,000 |
$162,130,000 |
$148,587,000 |
$128,009,000 |
$109,613,000 |
||||||||||||||||
|
Normal Cost |
9.40% |
$359,404,000 |
9.33% |
$336,088,000 |
7.49% |
$265,778,000 |
7.61% |
$257,628,000 |
7.11% |
$228,459,000 |
6.85% |
$210,507,761 |
6.68% |
$195,790,332 |
6.75% |
$185,572,148 |
6.82% |
$175,860,793 |
6.91% |
$169,668,209 |
6.38% |
$145,858,220 |
6.98% |
$144,771,622 |
5.85% |
$113,061,429 |
5.72% |
$101,074,745 |
5.45% |
$89,700,242 |
5.59% |
$86,731,925 |
|
Administrative Expenses |
0.23% |
$8,786,000 |
0.23% |
$8,286,000 |
0.28% |
$9,925,000 |
0.22% |
$7,449,000 |
0.18% |
$5,786,000 |
0.19% |
$5,838,901 |
0.17% |
$4,982,688 |
0.17% |
$4,673,669 |
0.16% |
$4,125,766 |
0.29% |
$7,120,663 |
0.27% |
$6,172,683 |
0.32% |
$6,637,094 |
0.29% |
$5,604,755 |
0.30% |
$5,301,123 |
0.33% |
$5,431,391 |
0.32% |
$4,964,976 |
|
Normal Cost & Expense |
9.63% |
$368,190,000 |
9.56% |
$344,374,000 |
7.77% |
$275,703,000 |
7.83% |
$265,077,000 |
7.29% |
$234,245,000 |
7.04% |
$216,346,662 |
6.85% |
$200,773,021 |
6.92% |
$190,245,816 |
6.98% |
$179,986,559 |
7.20% |
$176,788,872 |
6.65% |
$152,030,904 |
7.30% |
$151,408,716 |
6.14% |
$118,666,184 |
6.02% |
$106,375,868 |
5.78% |
$95,131,633 |
5.91% |
$91,696,901 |
|
Normal Cost & Expense |
9.63% |
$368,190,000 |
9.56% |
$344,374,000 |
7.77% |
$275,703,000 |
7.83% |
$265,077,000 |
7.29% |
$234,245,000 |
7.04% |
$216,346,662 |
6.85% |
$200,773,021 |
6.92% |
$190,245,816 |
6.98% |
$179,986,559 |
7.20% |
$176,788,872 |
6.65% |
$152,030,904 |
7.30% |
$151,408,716 |
6.14% |
$118,666,184 |
6.02% |
$106,375,868 |
5.78% |
$95,131,633 |
5.91% |
$91,696,901 |
|
Amortization |
1.98% |
$75,638,000 |
2.38% |
$85,745,000 |
1.67% |
$59,193,000 |
2.01% |
$68,053,000 |
2.51% |
$80,686,000 |
2.71% |
$83,281,173 |
2.76% |
$80,895,407 |
2.84% |
$78,077,763 |
2.60% |
$67,043,704 |
2.75% |
$67,523,528 |
2.79% |
$63,784,394 |
2.74% |
$56,830,121 |
2.69% |
$51,988,931 |
3.40% |
$60,079,394 |
2.43% |
$39,994,787 |
2.64% |
$40,961,052 |
|
Total Requirements |
11.61% |
$443,828,000 |
11.94% |
$430,119,000 |
9.44% |
$334,896,000 |
9.84% |
$333,130,000 |
9.80% |
$314,931,000 |
9.75% |
$299,627,835 |
9.61% |
$281,668,427 |
9.76% |
$268,323,579 |
9.58% |
$247,030,263 |
9.95% |
$244,312,400 |
9.44% |
$215,815,298 |
10.04% |
$208,238,837 |
8.83% |
$170,655,114 |
9.42% |
$166,455,262 |
8.21% |
$135,126,420 |
8.55% |
$132,657,953 |
|
Employee Contributions |
4.94% |
$188,856,000 |
4.77% |
$171,898,000 |
4.78% |
$169,398,000 |
4.79% |
$162,179,000 |
4.55% |
$146,127,000 |
4.29% |
$131,836,247 |
4.31% |
$126,325,798 |
4.30% |
$118,216,331 |
4.36% |
$112,427,134 |
4.38% |
$107,546,564 |
4.41% |
$100,820,494 |
4.44% |
$92,089,685 |
4.47% |
$86,390,528 |
4.27% |
$75,452,651 |
4.31% |
$70,937,256 |
4.37% |
$67,802,954 |
|
Employer Contributions |
5.38% |
$205,577,000 |
5.21% |
$187,823,000 |
5.23% |
$185,221,000 |
5.24% |
$177,504,000 |
4.92% |
$158,067,000 |
4.58% |
$140,748,255 |
4.60% |
$134,825,678 |
4.60% |
$126,463,982 |
4.68% |
$120,678,667 |
4.72% |
$115,894,927 |
4.76% |
$108,822,120 |
4.81% |
$99,763,825 |
4.86% |
$93,927,956 |
4.67% |
$82,520,815 |
4.74% |
$78,014,522 |
4.37% |
$67,802,954 |
|
Employer Add'l Cont. |
0.00% |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.46% |
$7,137,153 |
|
|
Direct State Funding |
0.00% |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
|
|
Other Govt. Funding |
0.00% |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
|
|
Administrative Assessment |
0.00% |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
0.00% |
$0 |
|
|
Total Contributions |
10.33% |
$394,433,000 |
9.98% |
$359,721,000 |
10.01% |
$354,619,000 |
10.03% |
$339,683,000 |
9.47% |
$304,194,000 |
8.88% |
$272,584,502 |
8.91% |
$261,151,476 |
8.90% |
$244,680,313 |
9.04% |
$233,105,802 |
9.10% |
$223,441,491 |
9.17% |
$209,642,614 |
9.25% |
$191,853,510 |
9.33% |
$180,318,484 |
8.94% |
$157,973,465 |
9.05% |
$148,951,778 |
9.20% |
$142,743,060 |
|
Total Requirements |
11.61% |
$443,828,000 |
11.94% |
$430,119,000 |
9.44% |
$334,896,000 |
9.84% |
$333,130,000 |
9.80% |
$314,931,000 |
9.75% |
$299,627,835 |
9.61% |
$281,668,427 |
9.76% |
$268,323,579 |
9.58% |
$247,030,263 |
9.95% |
$244,312,400 |
9.44% |
$215,815,298 |
10.04% |
$208,238,837 |
8.83% |
$170,655,114 |
9.42% |
$166,455,262 |
8.21% |
$135,126,420 |
8.55% |
$132,657,953 |
|
Total Contributions |
10.33% |
$394,433,000 |
9.98% |
$359,721,000 |
10.01% |
$354,619,000 |
10.03% |
$339,683,000 |
9.47% |
$304,194,000 |
8.88% |
$272,584,502 |
8.91% |
$261,151,476 |
8.90% |
$244,680,313 |
9.04% |
$233,105,802 |
9.10% |
$223,441,491 |
9.17% |
$209,642,614 |
9.25% |
$191,853,510 |
9.33% |
$180,318,484 |
8.94% |
$157,973,465 |
9.05% |
$148,951,778 |
9.20% |
$142,743,060 |
|
Deficiency (Surplus) |
1.28% |
$49,395,000 |
1.96% |
$70,398,000 |
(0.57%) |
($19,723,000) |
(0.19%) |
($6,553,000) |
0.33% |
$10,737,000 |
0.87% |
$27,043,333 |
0.70% |
$20,516,951 |
0.86% |
$23,643,266 |
0.54% |
$13,924,462 |
0.85% |
$20,870,909 |
0.27% |
$6,172,683 |
0.79% |
$16,385,327 |
(0.50%) |
($9,663,370) |
0.48% |
$8,481,797 |
(0.84%) |
($13,825,358) |
(0.65%) |
($10,085,108) |
|
Amortization Target Date |
2031 |
2024 |
2020 |
2020 |
2020 |
2020 |
2020 |
2020 |
2020 |
2020 |
2020 |
2020 |
2020 |
2010 |
2009 |
2009 |
||||||||||||||||
|
Actuary |
Milliman USA |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Milliman & Robertson |
Wyatt |
Wyatt |
Wyatt |
Wyatt |
Wyatt |
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