| 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 |
| 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% | $0.25 | 100.0% |
| 1999 | $315.6 | 100.0% | $221.6 | 85.0% | $9.3 | 100.0% | $18.1 | 100.0% | $0.32 | 100.0% |
| 2000 | $342.8 | 100.0% | $240.5 | 85.0% | $9.3 | 100.0% | $32.0 | 100.0% | $- | - |
| 2001 | $375.6 | 100.0% | $252.5 | 85.0% | $9.8 | 100.0% | $15.5 | 100.0% | $- | - |
| 2002 | $415.5 | 100.0% | $210.7 | 97.1% | $9.6 | 100.0% | $15.3 | 100.0% | $- | - |
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 | 6/30/2002 | 6/30/2002 | 6/30/2002 | 6/30/2001 | 12/31/2001 |
| Actuarial cost method | Projected | Entry age | Projected | Entry age | Entry Age |
| unit credit | unit credit | ||||
| Amortization method | Level percent | Level percent | Level percent | Level percent | - |
| of pay, closed | of pay, closed | of pay, closed | of pay, closed | ||
| Remaining amortization | |||||
| period | 30 Years | 10-29 Years | 29 Years | 10-25 Years | - |
| Asset valuation method | 5 year | 4 year | 5 year | 5 year | Asset |
| smoothed | smoothed | smoothed | smoothed | smoothing | |
| market | market | market | market | ||
| Actuarial assumptions: | |||||
| Investment rate of return | 8.5% | 8.5% | 8.5% | 8.5% | 8.5% |
| Projected salary increases | 4.25-15% | 4-8% | 5.5% | 4.5-11.25% | 6% |
| Includes inflation at | 5% | 4% | 5.5% | 3.75% | 3.5% |
| Cost-of-living adjustments | 2.75-3.75% | 3% | 3-5.5% | 2.5-5.0% | 3% |