Table 4b(4) 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 State and level Total other Real Miscellaneous of government investments property investments United States 0.03% 0.00% 0.04% State 0.00% 0.00% 0.00% Local 0.27% 0.00% 0.42% Alabama 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Alaska 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Arizona 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Arkansas 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% California 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Colorado 0.22% 0.00% 0.25% State 0.00% 0.00% 0.00% Local 1.67% 0.00% 2.40% Connecticut 0.26% 0.00% 0.26% State 0.00% 0.00% 0.00% Local 2.19% 0.00% 2.19% Delaware 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% District of Columbia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Florida 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Georgia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Hawaii 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Idaho 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Illinois 0.82% 0.00% 0.88% State 0.00% 0.00% 0.00% Local 3.38% 0.00% 4.14% Indiana 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Iowa 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Kansas 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Kentucky 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Louisiana 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Maine 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Maryland 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Massachusetts 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Michigan 0.04% 1.40% 0.04% State 0.00% 0.00% 0.00% Local 0.57% 1.52% 0.59% Minnesota 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Mississippi 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Missouri 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.06% 0.00% 0.06% Montana 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Nebraska 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Nevada 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New Hampshire 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New Jersey 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New Mexico 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New York 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% North Carolina 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% North Dakota 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Ohio 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Oklahoma 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Oregon 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Pennsylvania 0.02% 0.00% 0.02% State 0.00% 0.00% 0.00% Local 0.82% 0.00% 0.82% Rhode Island 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% South Carolina 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% South Dakota 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Tennessee 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Texas 0.28% 0.00% 0.30% State 0.00% 0.00% 0.00% Local 0.99% 0.00% 1.21% Utah 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Vermont 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Virginia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Washington 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% West Virginia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Wisconsin 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Wyoming 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 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(4). Source: U.S. Census Bureau, Governments Division Created: September 22, 2006 Last Revised: May 30, 2008