Table 4b(1) 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 Cash and deposits ------------------------------------ Time, savings deposits Cash and and nonfederal State and level demand short-term of government Total Total deposits investments United States 0.05% 0.20% 0.94% 0.13% State 0.00% 0.00% 0.00% 0.00% Local 0.31% 0.80% 2.12% 0.66% 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 0.01% 1.44% 10.58% 0.01% State 0.00% 0.00% 0.00% 0.00% Local 0.40% 38.63% 41.09% 2.15% California 0.00% 0.48% 2.77% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.01% 0.74% 3.77% 0.00% Colorado 0.05% 0.42% 2.23% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.37% 1.98% 2.26% 0.00% Connecticut 0.15% 1.65% 3.44% 2.20% State 0.00% 0.00% 0.00% 0.00% Local 0.72% 4.39% 3.58% 10.00% 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 0.32% 0.37% 2.37% 0.12% State 0.00% 0.00% 0.00% 0.00% Local 2.82% 3.45% 7.80% 1.94% Georgia 0.02% 0.15% 1.85% 0.10% State 0.00% 0.00% 0.00% 0.00% Local 0.31% 0.89% 1.96% 1.88% 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 0.69% 1.67% 2.02% 2.95% State 0.00% 0.00% 0.00% 0.00% Local 2.07% 4.23% 4.44% 8.64% Indiana 0.02% 1.27% 1.29% 2.26% State 0.00% 0.00% 0.00% 0.00% Local 2.81% 14.26% 16.89% 2.26% 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% 0.04% 1.56% 0.02% State 0.00% 0.00% 0.00% 0.00% Local 0.78% 1.29% 19.40% 0.73% Louisiana 0.02% 0.25% 0.35% 0.25% State 0.00% 0.00% 0.00% 0.00% Local 0.24% 3.79% 1.52% 11.14% 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 0.24% 1.20% 0.49% 35.99% State 0.00% 0.00% 0.00% 0.00% Local 0.90% 4.66% 2.20% 36.69% Michigan 0.11% 2.44% 12.52% 0.77% State 0.00% 0.00% 0.00% 0.00% Local 0.46% 4.80% 21.37% 1.58% Minnesota 0.06% 3.03% 7.03% 2.07% State 0.00% 0.00% 0.00% 0.00% Local 0.76% 9.46% 18.97% 7.63% 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 0.04% 1.98% 5.10% 2.21% State 0.00% 0.00% 0.00% 0.00% Local 0.31% 12.64% 7.82% 17.98% 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 0.39% 1.59% 12.82% 0.20% State 0.00% 0.00% 0.00% 0.00% Local 2.73% 9.89% 12.82% 4.99% 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 0.02% 0.00% 0.01% 0.00% State 0.00% 0.00% 0.00% 0.00% Local 0.15% 0.01% 0.02% 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 0.03% 22.21% 36.62% 26.92% State 0.00% 0.00% 0.00% 0.00% Local 0.57% 22.23% 36.67% 26.92% 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(1). Source: U.S. Census Bureau, Governments Division Created: September 26, 2007 Last Revised: June 25, 2008