Table 1.  National Summary of State and Local
Government Employee-Retirement System Finances:
Fiscal Year 2004-2005
(Thousand dollars)

Item                                                  Amount          CV     Percent          CV

Total receipts                                   354,251,323       0.05%     100.00%       0.00%

Employee contributions                            30,968,182       0.08%       8.74%       0.04%
Government contributions                          60,596,511       0.13%      17.11%       0.08%
    State government contributions                24,394,114       0.07%       6.89%       0.07%
    Local government contributions                36,202,397       0.20%      10.22%       0.15%
Earnings on investments1                         262,686,630       0.04%      74.15%       0.02%

Total payments                                   156,050,735       0.07%     100.00%       0.00%

Benefits                                         142,141,336       0.07%      91.09%       0.01%
Withdrawals                                        3,654,663       0.11%       2.34%       0.09%
Other payments                                    10,254,736       0.10%       6.57%       0.07%

Total cash and investment holdings at          2,675,138,857       0.04%     100.00%       0.00%
end of fiscal year

Cash and short-term investments                   91,099,859       0.15%       3.41%       0.15%

Total securities                               2,371,494,227       0.05%      88.65%       0.01%
    Governmental securities                      234,114,635       0.11%       8.75%       0.10%
        Federal government                       232,508,060       0.11%       8.69%       0.10%
            United States Treasury               171,517,400       0.12%       6.41%       0.10%
            Federal agency                        60,990,660       0.26%       2.28%       0.25%
        State and local government                 1,606,575       2.02%       0.06%       2.02%

Nongovernmental                                2,137,379,592       0.05%      79.90%       0.01%
    Corporate bonds                              392,202,391       0.06%      14.66%       0.04%
    Corporate stocks                           1,038,353,125       0.05%      38.81%       0.04%
    Mortgages                                     11,652,927       0.02%       0.44%       0.04%
    Funds held in trust                           81,696,819       0.66%       3.05%       0.64%
    Foreign and international                    376,887,479       0.01%      14.09%       0.04%
    Other nongovernmental                        236,586,851       0.19%       8.84%       0.18%

Other investment                                 212,544,771       0.03%       7.95%       0.05%
    Real Property                                 41,999,690       0.00%       1.57%       0.04%
    Miscellaneous investments                    170,545,081       0.04%       6.38%       0.06%


(1) The total of "net earnings" is a calculated statistic (the item code in the
data file is X08), and thus can be positive or negative.  Net earnings is the
sum of earnings on investments plus gains on investments minus losses on investments.
The change made in 2002 for asset valuation from book to market value in accordance
with Statement 34 of the Governmental Accounting Standards Board is reflected in the
calculated statistics.

Note: The standard error is a measure of the variation among the estimates from all
possible samples and thus is a measure of the precision with which an estimate from a
particular sample approximates the average results of all possible samples.  The coefficient
of variation is the estimated standard error expressed as a percent of the estimated total or
proportion.

Source: U.S. Census Bureau, Governments Division
Created: September 22, 2006
Last Revised: May 30, 2008