Table 1.  Cash and Security Holdings of Major Public Employee - Retirement Systems:
          Quarter Ending June 30, 2003 and Prior Periods

                Dollar amounts in millions.
                Because of rounding, detail may not add to totals.
                r = revised from previously published amounts.


                                                        Federal     Inter-               State/Local
                                 Corporate  Corporate  Government  national              Government Cash and    Other
Date                   Total       Stocks     Bonds    Securities Securities  Mortgages  Securities Deposits    Securities

June 30, 2003        1,913,369     749,959    327,807    200,285    223,830     19,995        501     63,403    327,589
March 31, 2003r      1,873,699     725,328    308,826    187,720    224,967     17,900        642     96,976    311,339

Dec 31, 2002r        1,822,778     635,564    308,371    180,068    253,468     19,690        528     94,796    330,292
Sept 30, 2002        1,805,087     630,295    315,848    189,634    240,503     19,589        527     87,928    320,765
June 30, 2002        1,881,900     640,237    323,651    192,240    244,978     19,244        528     95,972    365,051
March 31, 2002       1,987,630     711,609    317,490    214,520    254,439     20,442        543    101,525    367,062

Dec 31, 2001         1,948,696     683,304    320,434    204,901    259,170     19,495        507    100,438    360,446
Sept 30, 2001        1,952,461     662,512    316,644    214,055    253,712     18,971        644    105,758    380,166
June 30, 2001        1,969,108     687,943    311,419    228,236    260,531     19,683      1,994    103,804    355,498
March 31, 2001       1,919,384     670,195    301,026    246,177    244,369     21,196      1,921     97,510    336,990

Dec 31, 2000         1,914,867     664,312    311,618    239,746    257,491     20,783      1,994     99,244    319,679
Sept 30, 2000        1,880,458     665,483    308,660    239,215    251,621     20,969      2,798    106,693    285,019
June 30, 2000        1,718,203     622,082    305,063    219,641          0     22,151      3,246     99,399    446,621
March 31, 2000       1,704,216     624,093    304,476    215,669          0     21,726      3,382     95,058    439,812

Dec 31, 1999         1,654,432     609,049    293,484    212,260          0     21,509      3,560     85,107    429,462
Sept 30, 1999        1,618,826     595,068    284,935    216,382          0     21,336      3,612     84,450    413,043
June 30, 1999        1,576,782     577,995    270,253    236,175          0     24,082      3,549     83,759    380,969
March 31, 1999       1,538,289     555,880    267,754    234,446          0     24,293      2,065     84,611    369,241

Dec 31, 1998         1,485,522     542,306    262,328    230,193          0     24,124      1,946     79,062    345,562
Sept 30, 1998        1,454,386     529,361    257,222    226,025          0     23,368      1,772     78,800    337,837
June 30, 1998        1,421,510     520,644    247,667    226,293          0     22,726      1,789     76,364    326,028
March 31, 1998       1,385,787     505,732    236,706    220,881          0     22,748      1,764     77,924    320,032