State of Connecticut Comprehensive Annual Financial Report Fiscal Year Ended June 30, 1998 - Required Supplementary Information - Schedules of Funding Progress

State of Connecticut

Required Supplementary Information
Schedules of Funding Progress
(Expressed in Millions)
(a) (b) (b-a) (a/b) (c) ((b-a)/c)
Actuarial Actuarial Unfunded UAAL as a
Valuation Value of Actuarial Accrued AAL Funded Covered Percentage of
Date Assets Liability (AAL) (UAAL) Ratio Payroll Covered Payroll
SERS
6/30/92 $3,425.9 $6,668.7 $3,242.8 51.4% $1,931.4 167.9%
6/30/93 $3,696.2 $7,189.7 $3,493.5 51.4% $2,144.8 162.9%
6/30/94 $3,944.5 $7,329.2 $3,384.7 53.8% $2,155.9 157.0%
6/30/95 $4,209.2 $7,838.2 $3,629.0 53.7% $2,325.8 156.0%
6/30/96 $4,604.2 $8,138.6 $3,534.4 56.6% $2,385.5 148.2%
6/30/97 $5,131.0 $8,833.2 $3,702.2 58.1% $2,244.0 165.0%
TRS
6/30/92 $4,848.0 $7,278.2 $2,430.2 66.6% $1,841.9 131.9%
6/30/93 * - - - - - -
6/30/94 $5,602.1 $8,222.6 $2,620.5 68.1% $2,030.4 129.1%
6/30/95 * - - - - - -
6/30/96 $6,648.2 $9,626.8 $2,978.6 69.1% $2,151.6 138.4%
6/30/97 * - - - - - -
*No actuarial valuations were performed as of June 30, 1993, 1995 and 1997
JRS
9/30/92 $52.0 $130.6 $78.6 39.8% $16.2 485.2%
9/30/93 $57.2 $141.3 $84.1 40.5% $18.1 464.6%
9/30/94 $63.2 $148.0 $84.8 42.7% $18.5 458.4%
9/30/95 $70.5 $154.7 $84.2 45.6% $19.2 438.5%
9/30/96 $77.8 $161.5 $83.7 48.2% $19.5 429.2%
9/30/97 $87.8 $167.5 $79.7 52.4% $20.2 394.6%
MERS
6/30/92 $545.0 $539.0 $(6.0) 101.1% $203.0 (3.0)%
6/30/93 $601.0 $586.0 $(15.0) 102.6% $214.6 (7.0)%
6/30/94 $653.0 $635.0 $(18.0) 102.8% $226.0 (8.0)%
6/30/95 $711.0 $661.0 $(50.0) 107.6% $237.0 (21.1)%
6/30/96 $782.0 $692.2 $(89.8) 113.0% $242.8 (37.0)%
6/30/97 $872.0 $731.1 $(140.9) 119.3% $246.0 (57.3)%
PJRS
For the Probate Judges Retirement System because the UAAL is zero, the actuarial cost method becomes the aggregate cost method and a schedule of funding progress is not required.

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