Table 3.  Percent Distribution of Cash and Security Holdings of Major Public
          Employee - Retirement Systems: Quarter Ending Sept 30, 2000 and
          Prior Periods (Because of rounding, detail may not add to totals.
          r = revised from previously published amounts.  Note: The quarter
          ending Sept 30, 2000 is based on a new sample of retirement systems.)

          (z) = less than 0.05 percent

                                                       Total      United     Federal              State/Local
                               Corporate  Corporate   Federal     States     Agency               Government   Cash and    Other
Date                    Total    Stocks     Bonds    Securities  Treasury  Securities  Mortgages  Securities   Deposits  Securities

Sept 30, 2000           100.0     36.0      16.0        13.0        9.6        3.4         1.1        0.1         5.9       27.8
June 30, 2000           100.0     36.2      17.7        12.8       10.1        2.7         1.3        0.2         5.8       26.0
March 31, 2000          100.0     36.6      17.9        12.7       10.3        2.4         1.3        0.2         5.6       25.8

Dec 31, 1999r           100.0     36.8      17.7        12.8       10.2        2.6         1.3        0.2         5.1       26.0
Sept 30, 1999           100.0     36.8      17.6        13.4       10.6        2.7         1.3        0.2         5.2       25.5
June 30, 1999           100.0     36.7      17.1        15.0       11.7        3.2         1.5        0.2         5.3       24.2
March 31, 1999r         100.0     36.1      17.4        15.2       11.9        3.3         1.6        0.1         5.5       24.0

Dec 31, 1998            100.0     36.5      17.7        15.5       12.2        3.3         1.6        0.1         5.3       23.3
Sept 30, 1998           100.0     36.4      17.7        15.5       12.2        3.4         1.6        0.1         5.4       23.2
June 30, 1998           100.0     36.6      17.4        15.9       12.7        3.2         1.6        0.1         5.4       22.9
March 31, 1998          100.0     36.5      17.1        15.9       12.9        3.1         1.6        0.1         5.6       23.1

Dec 31, 1997            100.0     35.6      18.2        17.3       14.3        3.1         1.2        0.1         4.4       23.1
Sept 30, 1997           100.0     35.2      17.5        17.8       14.7        3.1         1.2        0.1         5.1       23.1
June 30, 1997           100.0     34.8      17.9        18.1       15.0        3.1         1.1        0.1         5.1       22.9
March 31, 1997          100.0     35.1      17.9        18.3       15.0        3.2         1.1        0.1         4.8       22.7

Dec 31, 1996r           100.0     34.4      17.8        19.3       15.9        3.4         2.0        (z)         4.9       21.4
Sept 30, 1996           100.0     33.9      17.9        19.7       16.3        3.4         2.0        (z)         5.0       21.4
June 30, 1996           100.0     33.5      17.4        20.1       16.6        3.5         2.0        (z)         5.1       21.8
March 31, 1996          100.0     34.2      18.4        19.7       16.5        3.2         2.1        0.1         5.0       20.6

Dec 31, 1995            100.0     35.0      19.1        19.7       16.7        3.0         1.7        (z)         6.0       18.5
Sept 30, 1995           100.0     34.6      19.0        19.9       17.1        2.9         1.7        (z)         5.8       18.8
June 30, 1995r          100.0     34.3      19.3        20.1       17.2        2.9         1.7        (z)         5.9       18.6
March 31, 1995          100.0     35.4      19.4        20.8       18.0        2.7         1.8        (z)         5.7       17.0