Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2004 Basic FINANCIAL STATEMENTS - Notes To Financial Statements - Note 13 - Postemployment Benefits

State of Connecticut

Note 13 Pension Trust Funds Financial Statements

The financial statements of the pension trust funds are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which the contributions are due. State contributions are recognized in the period in which the contributions are appropriated. Benefits and refunds are recognized when due and payable in accordance with the terms of each plan. Investment income and related expenses of the Combined Investment Funds are allocated ratably to the pension trust funds based on each fund's equity in the Combined Investment Funds. (see Note No. 4)

Statement of Fiduciary Net Assets (000's)
Connecticut
State State Municipal Probate
Employees Teachers Judicial Employees Judges Other Total
Assets
Cash and Cash Equivalents $ - $ - $ 106 $ 250 $ - $ 80 $ 436
Receivables:
Accounts, Net of Allowances 2,380 7,286 8 2,796 5 - 12,475
From Other Funds - 1,641 - - - - 1,641
Interest 138 209 4 25 4 - 380
Investments 7,709,616 10,860,276 140,387 1,303,833 67,072 716 20,081,900
Securities Lending Collateral 813,091 1,127,976 15,704 141,090 7,145 94 2,105,100
Total Assets 8,525,225 11,997,388 156,209 1,447,994 74,226 890 22,201,932
Liabilities
Securities Lending Obligation 813,091 1,127,976 15,704 141,090 7,145 94 2,105,100
Due to Other Funds 29,681 17,365 - - 25 - 47,071
Total Liabilities 842,772 1,145,341 15,704 141,090 7,170 94 2,152,171
Net Assets
Held in Trust For Employee
Pension Benefits 7,682,453 10,852,047 140,505 1,306,904 67,056 796 20,049,761
Total Net Assets $ 7,682,453 $10,852,047 $ 140,505 $ 1,306,904 $ 67,056 $ 796 $ 20,049,761

 

Statement of Changes in Fiduciary Net Assets (000's)
Connecticut
State State Municipal Probate
Employees Teachers Judicial Employees Judges Other Total
Additions
Contributions:
Plan Members $ 47,632 $ 210,227 $ 1,367 $ 12,009 $ 269 $ 26 $ 271,530
State 470,333 185,348 11,598 - - - 667,279
Municipalities - 1,019 - 16,271 - - 17,290
Total Contributions 517,965 396,594 12,965 28,280 269 26 956,099
Investment Income 1,060,852 1,518,735 17,055 170,045 9,002 81 2,775,770
Less: Investment Expenses (25,103) (35,937) (403) (4,024) (213) (2) (65,682)
Net Investment Income 1,035,749 1,482,798 16,652 166,021 8,789 79 2,710,088
Transfers In - - - - 1,705 - 1,705
Other 800 295 - - 2 - 1,097
Total Additions 1,554,514 1,879,687 29,617 194,301 10,765 105 3,668,989
Deductions
Administrative Expense 339 - 7 9 - - 355
Benefit Payments and Refunds 868,165 879,797 14,346 64,709 2,241 3 1,829,261
Other - - - - 1,967 13 1,980
Total Deductions 868,504 879,797 14,353 64,718 4,208 16 1,831,596
Changes in Net Assets 686,010 999,890 15,264 129,583 6,557 89 1,837,393
Net Assets Held in Trust For
Employee Pension Benefits:
Beginning of Year 6,996,443 9,852,157 125,241 1,177,321 60,499 707 18,212,368
End of Year $ 7,682,453 $ 10,852,047 $ 140,505 $ 1,306,904 $ 67,056 $ 796 $ 20,049,761

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