Table 4b(2) 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 Securities ------------------------------------------------------ Total Governmental --------------------------------------------- State and level United States Federal State and local of government Treasury agency government United States 0.05% 0.12% 0.26% 2.02% State 0.00% 0.00% 0.00% 0.00% Local 0.28% 0.73% 1.43% 8.54% Alabama 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Alaska 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Arizona 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Arkansas 0.08% 0.00% 5.57% 0.02% State 0.00% 0.00% 0.00% 0.00% Local 3.86% 0.00% 74.09% 100.00% California 0.00% 0.01% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.06% 0.00% 0.00% Colorado 0.10% 0.73% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.72% 5.31% 0.00% 0.00% Connecticut 0.17% 14.05% 1.81% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.82% 14.05% 1.81% 0.00% Delaware 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% District of Columbia 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Florida 0.33% 0.67% 0.32% 0.58% State 0.00% 0.00% 0.00% 0.00% Local 3.01% 4.87% 3.46% 0.58% Georgia 0.04% 0.01% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.49% 0.12% 0.00% 0.00% Hawaii 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Idaho 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Illinois 0.20% 1.86% 7.10% 39.33% State 0.00% 0.00% 0.00% 0.00% Local 0.56% 3.04% 8.70% 43.47% Indiana 0.62% 1.14% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 44.20% 71.31% 0.00% 0.00% Iowa 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Kansas 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Kentucky 0.01% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.85% 0.00% 0.00% 0.00% Louisiana 0.05% 0.22% 6.66% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.80% 1.40% 11.72% 0.00% Maine 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Maryland 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Massachusetts 0.31% 5.10% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 1.19% 5.56% 0.00% 0.00% Michigan 0.08% 3.03% 2.63% 20.36% State 0.00% 0.00% 0.00% 0.00% Local 0.28% 3.03% 2.63% 20.36% Minnesota 0.12% 9.94% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 1.09% 9.94% 0.00% 0.00% Mississippi 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Missouri 0.02% 0.84% 0.59% 0.12% State 0.00% 0.00% 0.00% 0.00% Local 0.15% 7.71% 4.70% 0.21% Montana 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Nebraska 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Nevada 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% New Hampshire 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% New Jersey 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% New Mexico 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% New York 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% North Carolina 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% North Dakota 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Ohio 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Oklahoma 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Oregon 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Pennsylvania 0.56% 0.62% 2.55% 38.88% State 0.00% 0.00% 0.00% 0.00% Local 3.21% 3.33% 5.48% 38.88% Rhode Island 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% South Carolina 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% South Dakota 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Tennessee 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Texas 0.03% 0.13% 0.53% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.28% 1.50% 35.77% 0.00% Utah 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Vermont 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Virginia 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Washington 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% West Virginia 0.07% 0.29% 10.48% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 2.24% 2.28% 10.48% 0.00% Wisconsin 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% 0.00% Wyoming 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 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(2). Source: U.S. Census Bureau, Governments Division Created: September 22, 2006 Last Revised: May 30, 2008