Table 4b. Coefficient of Variation for Cash and Investment Holdings of State and Local Government Employee-Retirement Systems by State and Level of Government: Fiscal Year 2004-2005 (Cont.) Securities State and level ----------------------------------------------------------------------------------------- of government Nongovernmental ----------------------------------------------------------------------------------------- Corporate Corporate Mortgages Funds held Foreign and Other bonds stocks in trust international securities United States 0.06% 0.05% 0.02% 0.66% 0.01% 0.19% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.31% 0.30% 0.23% 8.39% 0.08% 1.10% Alabama 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Alaska 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Arizona 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Arkansas 0.13% 0.06% 0.00% 0.00% 0.00% 0.89% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 9.55% 7.51% 0.00% 0.00% 0.00% 6.22% California 0.01% 0.01% 0.00% 2.79% 0.00% 0.50% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.02% 0.05% 0.00% 10.83% 0.00% 1.15% Colorado 0.03% 0.10% 0.00% 20.82% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.26% 0.87% 0.00% 20.82% 0.00% 0.00% Connecticut 0.29% 0.33% 0.00% 58.06% 0.00% 4.79% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 2.98% 1.57% 0.00% 58.06% 0.00% 5.93% Delaware 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% District of Columbia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Florida 0.31% 0.17% 0.00% 72.58% 0.00% 1.49% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 1.66% 1.70% 0.00% 73.73% 0.00% 6.41% Georgia 0.13% 0.07% 0.00% 0.00% 0.00% 4.09% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 1.39% 0.85% 0.00% 0.00% 0.00% 5.72% Hawaii 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Idaho 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Illinois 0.50% 0.31% 100.00% 1.44% 0.04% 1.73% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 1.85% 0.79% 100.00% 32.93% 0.18% 2.68% Indiana 0.49% 0.58% 0.00% 2.44% 0.00% 0.75% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 32.84% 47.42% 0.00% 2.44% 0.00% 75.47% Iowa 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Kansas 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Kentucky 0.01% 0.00% 0.00% 100.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.39% 0.36% 0.00% 100.00% 0.00% 0.00% Louisiana 0.05% 0.00% 0.00% 0.00% 0.00% 0.63% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.66% 0.00% 0.00% 0.00% 0.00% 13.02% Maine 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Maryland 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Massachusetts 2.09% 0.19% 0.00% 0.83% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 2.64% 0.21% 0.00% 22.71% 0.00% 0.00% Michigan 0.30% 0.21% 0.00% 12.31% 0.05% 1.89% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 1.30% 0.79% 0.00% 12.31% 0.34% 6.52% Minnesota 0.11% 0.20% 0.00% 0.22% 0.00% 0.65% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.43% 0.99% 0.00% 52.05% 0.00% 4.57% Mississippi 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Missouri 0.10% 0.19% 0.00% 0.00% 0.12% 0.79% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 1.12% 0.95% 0.00% 0.00% 3.58% 4.83% Montana 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Nebraska 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Nevada 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% New Hampshire 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% New Jersey 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% New Mexico 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% New York 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% North Carolina 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% North Dakota 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Ohio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Oklahoma 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Oregon 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Pennsylvania 0.48% 0.40% 0.00% 17.01% 0.18% 6.19% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 3.77% 1.74% 0.00% 17.01% 9.21% 24.62% Rhode Island 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% South Carolina 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% South Dakota 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Tennessee 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Texas 0.22% 0.01% 0.00% 0.00% 0.14% 0.22% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 2.61% 0.10% 0.00% 0.00% 1.00% 0.88% Utah 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Vermont 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Virginia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Washington 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% West Virginia 0.04% 0.10% 0.00% 16.17% 0.00% 20.07% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 4.33% 3.36% 0.00% 16.17% 0.00% 20.07% Wisconsin 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Wyoming 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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 (CV) is the estimated standard error expressed as a percent of the estimated total or proportion. Each column in this table contains the coefficients of variation that have been computed for the estimated amounts in table 4a. Source: U.S. Census Bureau, Governments Division Created: September 22, 2007 Last Revised: May 15, 2007