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 2005-2006 Securities ------------------------------------------------------ Total Governmental --------------------------------------------- State and level United States Federal State and local of government Treasury agency government United States 0.06% 0.18% 0.18% 1.53% State 0.00% 0.00% 0.00% 0.00% Local 0.34% 1.11% 1.27% 6.16% 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 0.06% 0.07% 0.00% 0.12% State 0.00% 0.00% 0.00% 0.00% Local 3.09% 0.51% 0.00% 100.00% California 0.02% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.07% 0.00% 0.00% 0.00% Colorado 0.09% 0.08% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.66% 0.71% 0.00% 0.00% Connecticut 0.17% 6.09% 2.78% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.83% 6.09% 2.78% 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 0.35% 4.10% 0.30% 0.41% State 0.00% 0.00% 0.00% 0.00% Local 2.87% 4.10% 3.72% 0.45% Georgia 0.03% 0.07% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.36% 1.65% 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 0.77% 3.22% 11.15% 25.09% State 0.00% 0.00% 0.00% 0.00% Local 2.26% 5.72% 17.42% 28.00% Indiana 0.00% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.10% 0.00% 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 0.02% 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.98% 0.00% 0.00% 0.00% Louisiana 0.02% 0.80% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.30% 2.80% 0.00% 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 0.17% 4.00% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.70% 4.58% 0.00% 0.00% Michigan 0.20% 4.32% 4.07% 1.75% State 0.00% 0.00% 0.00% 0.00% Local 0.88% 4.32% 4.07% 1.75% Minnesota 0.11% 5.23% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 1.06% 5.23% 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 0.10% 0.35% 0.86% 3.46% State 0.00% 0.00% 0.00% 0.00% Local 0.82% 3.16% 11.05% 3.46% 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 0.51% 0.62% 0.97% 22.19% State 0.00% 0.00% 0.00% 0.00% Local 3.12% 3.67% 12.48% 22.19% 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 0.04% 0.46% 0.00% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.33% 4.63% 1.22% 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 0.11% 2.14% 0.30% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 2.33% 2.14% 0.30% 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 26, 2007 Last Revised: June 25, 2008