Table 1.  National Summary of State and Local Government
Employee-Retirement System Finances: Fiscal Year 1999 - 2000
(Thousand dollars.  Detail may not add to total because of rounding)

                                                    Amount          Percent

Total receipts                                 297,049,657           100.00

Employee contributions                          24,994,468             8.41
Government contributions                        40,155,114            13.52
  State governments contributions               17,547,408             5.91
  Local governments contributions               22,607,706             7.61
Earnings on investments                        231,900,075            78.07

Total Payments                                 100,457,883           100.00

Benefits                                        91,274,292            90.86
Withdrawals                                      4,431,876             4.41
Other payments                                   4,751,715             4.73

Total cash and investment
  holdings at end of fiscal year             2,168,643,033           100.00

Cash and short-term investments                121,142,060             5.59

Total securities                             1,873,843,223            86.41
Governmental securities                        271,551,952            12.52
  Federal Government                           267,480,783            12.33
    United States Treasury                     189,459,820             8.74
    Federal agency                              78,020,963             3.60
  State and local government                     4,071,169             0.19

Nongovernmental securities                   1,602,291,271            73.88
  Corporate bonds                              342,679,425            15.80
  Corporate stocks                             787,748,623            36.32
  Mortgages                                     21,288,457             0.98
  Foreign and international                    286,278,390            13.20
  Other nongovernmental                        164,296,376             7.58

Other investments                              173,657,750             8.01
  Real Property                                 47,189,167             2.18
  Miscellaneous investments                    126,468,583             5.83