Table 4. Cash and Investment Holdings of State and Local Government Employee-Retirement Systems by State and Level of Government: Fiscal Year 1994 - 1995 (Thousand dollars. Detail may not add to total because of rounding) Cash and deposits Securities ---------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------- Time, savings Governmental Nongovernmental deposits, and ------------------------------------------- --------------------------------------------------------------------- Cash and nonfederal United State and Total State and level demand short-term States Federal local Corporate Corporate Funds held other of government Total Total deposits investments Total Treasury agency government bonds stocks Mortgages in trust Other investments United States 1,118,352,988 69,799,077 4,687,290 65,111,787 982,574,642 189,811,075 48,639,268 1,088,576 196,646,814 382,691,739 17,667,848 32,266,992 114,850,906 64,890,693 State 913,929,489 54,163,156 2,714,016 51,449,140 804,183,587 160,717,959 39,796,372 530,591 164,324,545 300,547,610 16,665,236 28,457,760 93,674,106 55,052,154 Local 204,423,499 15,635,921 1,973,274 13,662,647 178,391,055 29,093,116 8,842,896 557,985 32,322,269 82,144,129 1,002,612 3,809,232 21,176,800 9,838,539 Alabama 15,017,579 2,488,358 20,730 2,467,628 12,003,896 496,155 146,991 0 6,043,107 4,215,832 1,091,757 0 10,054 525,325 State 14,106,398 2,396,295 10,908 2,385,387 11,184,778 253,315 109,701 0 5,839,719 3,890,642 1,091,401 0 0 525,325 Local 911,181 92,063 9,822 82,241 819,118 242,840 37,290 0 203,388 325,190 356 0 10,054 0 Alaska 7,174,712 130,795 1,252 129,543 6,872,147 1,641,906 164,813 0 1,673,188 2,765,037 11,021 0 616,182 171,770 State 6,919,826 111,796 0 111,796 6,648,406 1,586,461 164,813 0 1,633,490 2,651,366 6,552 0 605,724 159,624 Local 254,886 18,999 1,252 17,747 223,741 55,445 0 0 39,698 113,671 4,469 0 10,458 12,146 Arizona 14,514,784 962,201 937 961,264 13,450,148 2,132,288 1,985,405 0 714,743 8,361,157 193,000 0 63,555 102,435 State 13,312,719 897,942 937 897,005 12,356,956 2,042,657 1,730,685 0 586,598 7,804,016 193,000 0 0 57,821 Local 1,202,065 64,259 0 64,259 1,093,192 89,631 254,720 0 128,145 557,141 0 0 63,555 44,614 Arkansas 6,346,323 467,943 7,324 460,619 5,842,469 1,171,744 306,341 12,980 1,074,399 2,691,893 150,264 4,455 443,373 22,931 State 6,165,190 439,440 5,618 433,822 5,690,428 1,128,289 299,092 12,980 1,031,391 2,643,265 150,264 1,288 436,839 22,342 Local 181,133 28,503 1,706 26,797 152,041 43,455 7,249 0 43,008 48,628 0 3,167 6,534 589 California 195,355,825 12,167,529 678,002 11,489,527 169,394,890 30,474,745 4,052,927 145,559 35,702,497 64,084,247 5,698,341 914,577 28,467,556 13,647,847 State 142,065,928 7,601,498 231,964 7,369,534 123,969,465 24,639,932 2,325,569 0 25,400,711 43,995,939 5,589,838 546,448 21,471,028 10,494,965 Local 53,289,897 4,566,031 446,038 4,119,993 45,425,425 5,834,813 1,727,358 145,559 10,301,786 20,088,308 108,503 368,129 6,996,528 3,152,882 Colorado 16,835,981 1,040,667 202,888 837,779 14,261,290 1,523,427 129,157 16,640 3,306,024 6,626,802 558,208 61,270 2,056,402 1,517,384 State 14,307,296 815,477 102,671 712,806 12,092,810 1,079,131 83,670 16,640 2,805,670 5,911,822 492,430 215 1,719,872 1,382,369 Local 2,528,685 225,190 100,217 124,973 2,168,480 444,296 45,487 0 500,354 714,980 65,778 61,055 336,530 135,015 Connecticut 11,784,644 803,106 81,808 721,298 9,662,213 288,394 62,974 66,025 2,315,895 3,199,615 703 1,037,791 2,756,841 1,253,300 State 9,329,202 587,935 9,317 578,618 7,440,270 18,252 29,882 64,915 2,089,580 2,437,194 0 364,228 2,501,134 1,236,082 Local 2,455,442 215,171 72,491 142,680 2,221,943 270,142 33,092 1,110 226,315 762,421 703 673,563 255,707 17,218 Delaware 2,606,976 276,166 27,702 248,464 2,122,594 1,893 6,442 12,891 660,177 1,167,580 0 0 286,502 195,325 State 2,439,648 239,432 27,528 211,904 2,009,391 0 0 0 641,436 1,083,348 0 0 284,607 190,825 Local 167,328 36,734 174 36,560 113,203 1,893 6,442 12,891 18,741 84,232 0 0 1,895 4,500 District of Columbia 3,219,790 0 0 0 0 0 0 0 0 0 0 0 0 3,219,790 State 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Local 3,219,790 0 0 0 0 0 0 0 0 0 0 0 0 3,219,790 Florida 43,436,495 4,982,393 60,481 4,921,912 36,715,848 4,587,454 431,939 41,752 6,654,401 23,396,276 5 202,462 1,443,311 1,696,502 State 37,523,036 4,533,887 2,498 4,531,389 31,321,514 3,283,500 252,127 38,228 5,774,887 20,808,825 0 0 1,202,175 1,629,407 Local 5,913,459 448,506 57,983 390,523 5,394,334 1,303,954 179,812 3,524 879,514 2,587,451 5 202,462 241,136 67,095 Georgia 23,949,840 838,474 82,921 755,553 23,068,919 11,388,652 87,245 8,420 490,121 11,023,152 9,373 51,086 19,289 34,028 State 21,665,843 704,446 32,507 671,939 20,926,243 10,667,313 25,092 8,170 128,617 10,071,421 8,686 25,114 0 26,984 Local 2,283,997 134,028 50,414 83,614 2,142,676 721,339 62,153 250 361,504 951,731 687 25,972 19,289 7,044 Hawaii 5,623,388 434,563 48,901 385,662 4,608,472 5,654 0 0 1,311,311 2,489,094 232,898 0 569,515 580,353 State 5,623,388 434,563 48,901 385,662 4,608,472 5,654 0 0 1,311,311 2,489,094 232,898 0 569,515 580,353 Local 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Idaho 2,875,295 213,026 202 212,824 2,507,128 820,034 226 0 4,086 1,538,376 139,464 4,592 350 155,141 State 2,865,268 212,834 173 212,661 2,497,293 819,453 0 0 0 1,538,376 139,464 0 0 155,141 Local 10,027 192 29 163 9,835 581 226 0 4,086 0 0 4,592 350 0 Illinois 46,244,187 3,508,724 385,749 3,122,975 37,985,400 6,760,577 2,629,431 35,019 6,047,053 14,837,052 52,380 130,938 7,527,969 4,715,044 State 27,913,604 2,026,568 62,554 1,964,014 21,807,106 1,541,177 1,838,359 0 3,764,439 8,414,913 19,391 39,081 6,189,746 4,079,930 Local 18,330,583 1,482,156 323,195 1,158,961 16,178,294 5,219,400 791,072 35,019 2,282,614 6,422,139 32,989 91,857 1,338,223 635,114 Indiana 8,938,984 353,249 24,367 328,882 8,585,332 3,257,331 2,256,852 0 3,068,123 1,078 404 483 1,061 403 State 8,826,510 327,197 5,709 321,488 8,499,053 3,199,352 2,256,723 0 3,042,024 0 404 0 550 260 Local 112,474 26,052 18,658 7,394 86,279 57,979 129 0 26,099 1,078 0 483 511 143 Iowa 8,402,165 444,935 138,257 306,678 7,045,276 134,660 26,944 0 1,688,939 960,545 0 0 4,234,188 911,954 State 8,222,584 441,911 138,243 303,668 6,869,028 131,382 17,812 0 1,539,147 946,704 0 0 4,233,983 911,645 Local 179,581 3,024 14 3,010 176,248 3,278 9,132 0 149,792 13,841 0 0 205 309 Kansas 5,299,987 89,258 1,594 87,664 4,771,988 331,157 131,740 2,489 877,997 1,689,617 0 29,057 1,712,420 436,252 State 4,747,910 81,205 1,229 79,976 4,232,653 256,597 109,901 0 746,794 1,415,941 0 0 1,703,420 434,052 Local 552,077 8,053 365 7,688 539,335 74,560 21,839 2,489 131,203 273,676 0 29,057 9,000 2,200 Kentucky 11,210,664 1,101,336 2,198 1,099,138 9,642,339 2,161,148 37,774 0 2,121,051 4,938,004 373,898 9,357 1,107 466,989 State 11,044,637 1,094,047 0 1,094,047 9,483,614 2,132,898 22,980 0 2,072,315 4,881,523 373,898 0 0 466,976 Local 166,027 7,289 2,198 5,091 158,725 28,250 14,794 0 48,736 56,481 0 9,357 1,107 13 Louisiana 14,101,390 1,407,018 202,990 1,204,028 12,472,464 2,744,813 489,420 506 2,379,865 4,319,749 1,805 17,596 2,519,216 221,402 State 13,089,094 1,281,805 195,097 1,086,708 11,586,922 2,486,124 354,875 0 2,199,670 4,054,662 1,805 1,013 2,488,773 220,367 Local 1,012,296 125,213 7,893 117,320 885,542 258,689 134,545 506 180,195 265,087 0 16,583 30,443 1,035 Maine 2,747,704 13,526 13,526 0 2,694,057 164,528 0 0 58,221 1,339,145 0 1,132,163 0 40,121 State 2,747,704 13,526 13,526 0 2,694,057 164,528 0 0 58,221 1,339,145 0 1,132,163 0 40,121 Local 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Maryland 20,679,580 574,864 29,908 544,956 18,237,901 2,670,288 405,109 277,231 4,446,553 5,319,318 36,208 204,666 5,155,759 1,589,584 State 16,269,489 488,775 28,714 460,061 15,097,406 2,623,182 369,377 71,857 4,157,538 4,099,359 32,629 0 3,815,321 611,451 Local 4,410,091 86,089 1,194 84,895 3,140,495 47,106 35,732 205,374 289,015 1,219,959 3,579 204,666 1,340,438 978,133 Massachusetts 19,174,714 1,536,296 751,598 784,698 15,912,350 1,120,018 976,004 2,265 3,438,402 4,008,003 40,939 1,774,953 4,554,031 1,723,803 State 12,910,986 945,928 442,706 503,222 10,561,155 217,818 742,408 517 2,282,293 1,806,286 6,745 1,656,569 3,849,036 1,403,386 Local 6,263,728 590,368 308,892 281,476 5,351,195 902,200 233,596 1,748 1,156,109 2,201,717 34,194 118,384 704,995 320,417 Michigan 36,981,254 4,765,832 358,574 4,407,258 28,813,549 5,091,282 305,015 41,199 6,814,910 13,554,270 1,272,422 288,140 1,487,509 3,360,675 State 26,320,814 3,792,001 245,174 3,546,827 19,479,649 3,552,685 0 0 4,429,383 9,449,560 763,304 0 1,284,717 3,049,164 Local 10,660,440 973,831 113,400 860,431 9,333,900 1,538,597 305,015 41,199 2,385,527 4,104,710 509,118 288,140 202,792 311,511 Minnesota 21,883,111 427,914 47,249 380,665 17,402,623 629,188 157,473 933 840,611 1,786,219 35,163 13,866,347 87,622 4,051,641 State 19,230,925 206,221 4,091 202,130 15,110,063 367,308 3,707 0 297,209 581,929 0 13,859,910 0 3,914,641 Local 2,652,186 221,693 43,158 178,535 2,292,560 261,880 153,766 933 543,402 1,204,290 35,163 6,437 87,622 137,000 Mississippi 8,919,419 1,011,174 91,411 919,763 7,840,986 2,802,373 0 63,982 1,029,796 3,399,629 0 636 608,552 3,277 State 8,918,783 1,011,174 91,411 919,763 7,840,350 2,802,373 0 63,982 1,029,796 3,399,629 0 0 608,552 3,277 Local 636 0 0 0 636 0 0 0 0 0 0 636 0 0 Missouri 21,617,659 411,319 20,559 390,760 20,896,650 2,645,232 400,014 38,938 7,512,252 6,639,536 5,953 95,657 3,598,006 270,752 State 18,420,135 222,340 2,173 220,167 17,986,053 2,079,300 276,884 36,438 6,919,337 5,260,341 5 75,459 3,374,727 175,304 Local 3,197,524 188,979 18,386 170,593 2,910,597 565,932 123,130 2,500 592,915 1,379,195 5,948 20,198 223,279 95,448 Montana 2,494,590 54,326 1,535 52,791 2,314,872 286,534 3,397 0 1,336,301 576,748 105,751 0 6,141 125,392 State 2,493,975 53,711 1,424 52,287 2,314,872 286,534 3,397 0 1,336,301 576,748 105,751 0 6,141 125,392 Local 615 615 111 504 0 0 0 0 0 0 0 0 0 0 Nebraska 4,071,168 206,954 23,786 183,168 3,846,110 426,209 754,403 0 377,536 1,410,602 0 596,765 280,595 18,104 State 2,792,318 139,325 22,216 117,109 2,652,993 191,085 715,722 0 123,885 949,142 0 493,462 179,697 0 Local 1,278,850 67,629 1,570 66,059 1,193,117 235,124 38,681 0 253,651 461,460 0 103,303 100,898 18,104 Nevada 5,775,589 169,247 570 168,677 5,012,255 1,512,573 327,304 0 796,120 1,052,639 0 21,600 1,302,019 594,087 State 5,753,989 169,247 570 168,677 4,990,655 1,512,573 327,304 0 796,120 1,052,639 0 0 1,302,019 594,087 Local 21,600 0 0 0 21,600 0 0 0 0 0 0 21,600 0 0 New Hampshire 2,409,034 127,726 2,061 125,665 1,981,453 3,990 251,714 0 259,568 1,095,273 92 0 370,816 299,855 State 2,401,912 127,270 2,061 125,209 1,974,787 0 251,714 0 257,671 1,095,185 92 0 370,125 299,855 Local 7,122 456 0 456 6,666 3,990 0 0 1,897 88 0 0 691 0 New Jersey 30,772,777 21,294 4,450 16,844 30,162,778 12,534 82,492 0 15,174,430 12,919,935 0 0 1,973,387 588,705 State 30,706,847 740 740 0 30,120,284 0 80,002 0 15,167,437 12,899,458 0 0 1,973,387 585,823 Local 65,930 20,554 3,710 16,844 42,494 12,534 2,490 0 6,993 20,477 0 0 0 2,882 New Mexico 6,356,632 227,894 149,264 78,630 6,125,945 1,440,317 614,685 0 1,792,031 2,129,803 42,491 106,619 0 2,792 State 6,356,632 227,894 149,264 78,630 6,125,945 1,440,317 614,685 0 1,792,031 2,129,803 42,491 106,619 0 2,792 Local 0 0 0 0 0 0 0 0 0 0 0 0 0 0 New York 140,758,054 5,635,988 45,135 5,590,853 130,832,027 26,151,774 3,633,445 0 18,525,775 63,993,676 3,904,158 555,951 14,067,248 4,290,039 State 83,317,143 1,746,161 15,215 1,730,946 77,280,943 18,575,543 553,304 0 10,409,120 35,596,579 3,871,106 0 8,275,291 4,290,039 Local 57,440,911 3,889,827 29,920 3,859,907 53,551,084 7,576,231 3,080,141 0 8,116,655 28,397,097 33,052 555,951 5,791,957 0 North Carolina 25,655,972 7,866,472 54,048 7,812,424 17,431,217 7,073,679 655 0 6,728,393 3,503,721 0 15,655 109,114 358,283 State 25,509,527 7,856,339 46,001 7,810,338 17,295,081 7,053,665 0 0 6,709,758 3,440,804 0 12,574 78,280 358,107 Local 146,445 10,133 8,047 2,086 136,136 20,014 655 0 18,635 62,917 0 3,081 30,834 176 North Dakota 1,478,800 47,265 11,148 36,117 1,412,925 168,738 19,724 0 131,742 305,190 65 671,422 116,044 18,610 State 1,366,215 19,817 4,150 15,667 1,329,130 139,422 19,724 0 119,109 301,838 65 637,427 111,545 17,268 Local 112,585 27,448 6,998 20,450 83,795 29,316 0 0 12,633 3,352 0 33,995 4,499 1,342 Ohio 78,866,709 2,148,756 10,100 2,138,656 72,063,174 32,357,577 4,164,553 1,400 10,826,013 21,204,386 417,373 12,783 3,080,489 4,653,379 State 77,618,318 2,009,413 7,871 2,001,542 70,955,626 32,154,442 4,134,237 1,400 10,810,530 20,379,012 406,401 12,783 3,058,221 4,651,879 Local 1,248,391 139,343 2,229 137,114 1,107,548 203,135 30,316 0 15,483 825,374 10,972 0 22,268 1,500 Oklahoma 7,379,703 545,980 70,705 475,275 6,518,761 1,587,592 360,561 184,095 640,488 3,282,022 6,909 0 641,189 130,867 State 6,956,650 509,874 50,504 459,370 6,135,738 1,480,053 348,190 182,535 603,824 3,096,491 0 0 607,180 128,503 Local 423,053 36,106 20,201 15,905 383,023 107,539 12,371 1,560 36,664 185,531 6,909 0 34,009 2,364 Oregon 9,837,196 605,277 186,573 418,704 6,994,219 1,454,883 677,358 0 1,087,817 1,321,827 248,055 0 2,204,279 2,237,700 State 9,824,230 592,311 173,607 418,704 6,994,219 1,454,883 677,358 0 1,087,817 1,321,827 248,055 0 2,204,279 2,237,700 Local 12,966 12,966 12,966 0 0 0 0 0 0 0 0 0 0 0 Pennsylvania 43,585,113 1,880,370 189,704 1,690,666 38,857,317 3,408,630 3,109,184 3,133 3,390,628 19,709,428 703,075 504,425 8,031,948 2,844,292 State 38,589,382 1,328,347 177 1,328,170 34,521,691 2,726,751 2,710,571 0 2,931,712 17,807,589 642,265 193,641 7,509,162 2,739,344 Local 4,995,731 552,023 189,527 362,496 4,335,626 681,879 398,613 3,133 458,916 1,901,839 60,810 310,784 522,786 104,948 Rhode Island 3,457,085 406,779 4,823 401,956 2,880,453 16,082 1,131,257 0 125,714 1,550,727 0 46 56,627 169,853 State 3,224,475 391,836 2,068 389,768 2,673,511 0 1,091,140 0 95,699 1,486,672 0 0 0 159,128 Local 232,610 14,943 2,755 12,188 206,942 16,082 40,117 0 30,015 64,055 0 46 56,627 10,725 South Carolina 12,526,394 3,719,946 572 3,719,374 8,806,448 2,740,035 2,704,574 0 3,352,716 9,123 0 0 0 0 State 12,495,750 3,718,046 345 3,717,701 8,777,704 2,734,485 2,699,941 0 3,343,278 0 0 0 0 0 Local 30,644 1,900 227 1,673 28,744 5,550 4,633 0 9,438 9,123 0 0 0 0 South Dakota 2,731,084 494,996 2,343 492,653 2,080,567 240,062 86,382 2,558 321,362 1,100,701 0 0 332,060 152,963 State 2,615,975 481,001 0 481,001 1,985,668 225,870 84,318 0 315,103 1,087,623 0 0 272,754 149,306 Local 115,109 13,995 2,343 11,652 94,899 14,192 2,064 2,558 6,259 13,078 0 0 59,306 3,657 Tennessee 14,311,774 247,219 43,323 203,896 14,012,647 447,867 2,784,407 2,175 3,407,509 4,666,694 6,526 127,563 2,572,081 49,733 State 10,891,749 6,105 6,105 0 10,885,644 62,752 2,618,960 0 3,070,370 3,568,159 0 0 1,565,403 0 Local 3,420,025 241,114 37,218 203,896 3,127,003 385,115 165,447 2,175 337,139 1,098,535 6,526 127,563 1,006,678 49,733 Texas 62,201,980 2,215,104 515,434 1,699,670 59,004,644 9,471,143 10,348,013 86,765 10,096,789 21,499,010 994,151 226,472 6,369,066 895,467 State 55,228,735 1,729,323 481,044 1,248,279 52,954,846 8,602,414 10,228,788 0 9,107,994 18,722,154 981,718 500 5,311,278 544,566 Local 6,973,245 485,781 34,390 451,391 6,049,798 868,729 119,225 86,765 988,795 2,776,856 12,433 225,972 1,057,788 350,901 Utah 6,161,055 380,439 132 380,307 5,069,599 706,892 416,635 0 542,048 3,375,016 12,306 0 16,702 711,017 State 6,161,055 380,439 132 380,307 5,069,599 706,892 416,635 0 542,048 3,375,016 12,306 0 16,702 711,017 Local 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Vermont 1,156,549 111,105 3,881 107,224 1,000,893 9,139 19 0 307,292 678,396 1,578 382 4,087 44,551 State 1,105,903 110,698 3,881 106,817 952,152 0 0 0 299,318 652,135 699 0 0 43,053 Local 50,646 407 0 407 48,741 9,139 19 0 7,974 26,261 879 382 4,087 1,498 Virginia 20,752,043 1,267,300 50,115 1,217,185 17,896,786 2,086,968 190,875 2,426 2,957,333 6,331,204 30,079 5,979,031 321,296 1,585,531 State 16,366,075 912,788 21,577 891,211 13,904,269 1,421,168 0 0 2,322,660 4,170,103 29,524 5,960,814 0 1,549,018 Local 4,385,968 354,512 28,538 325,974 3,992,517 665,800 190,875 2,426 634,673 2,161,101 555 18,217 321,296 36,513 Washington 23,623,311 493,945 20,472 473,473 19,319,367 6,593,448 40,022 1,058 2,581,270 1,388,755 892,265 3,338,452 4,485,155 3,808,941 State 22,549,474 436,996 9,101 427,895 18,348,303 6,400,159 0 0 2,414,710 1,145,243 823,281 3,338,452 4,226,458 3,764,175 Local 1,073,837 56,949 11,371 45,578 971,064 193,289 40,022 1,058 166,560 243,512 68,984 0 258,697 44,766 West Virginia 2,539,967 154,752 2,179 152,573 2,381,590 1,867,662 334,847 0 109,652 0 6,613 24,574 38,242 3,625 State 2,434,455 142,257 10 142,247 2,292,198 1,842,588 308,660 0 96,378 0 6,613 0 37,959 0 Local 105,512 12,495 2,169 10,326 89,392 25,074 26,187 0 13,274 0 0 24,574 283 3,625 Wisconsin 32,222,016 305,684 1,435 304,249 31,485,316 4,255,186 1,407,945 38,137 10,580,000 14,570,408 392,155 256,177 23,445 392,879 State 29,935,109 152,671 0 152,671 29,420,219 4,193,965 898,065 32,929 9,878,719 14,057,315 392,155 0 0 329,290 Local 2,286,907 153,013 1,435 151,578 2,065,097 61,221 509,880 5,208 701,281 513,093 0 256,177 23,445 63,589 Wyoming 2,285,943 13,593 12,374 1,219 2,272,350 446,620 4,581 0 924,565 665,229 0 2,849 228,506 0 State 2,246,679 12,304 12,304 0 2,234,375 433,717 0 0 911,377 660,775 0 0 228,506 0 Local 39,264 1,289 70 1,219 37,975 12,903 4,581 0 13,188 4,454 0 2,849 0 0