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STATE OF MARYLAND
Combining Statement of Changes in Plan Net Assets
Pension Trust Funds
for the year ended June 30,1999
(Expressed in Thousands)
|
|
Teachers'
Retirement
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Retirement
Employees'
Retirement
|
and Pension
Judges'
|
System of
State Police
|
Maryland
Local Fire
|
Natural
Resources
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|
Mass Transit
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|
|
|
and Pension
|
and Pension
|
Retirement
|
Retirement
|
and Police
|
Pension
|
|
Administration
|
|
|
|
Systems
|
Systems
|
System
|
System
|
System
|
System
|
Subtotal
|
Pension Plan
|
Total
|
|
Additions:
|
|
|
|
|
|
|
|
|
|
|
Contributions:
|
|
|
|
|
|
|
|
|
|
|
Employers ................................................................................
|
$ 19,808
|
$ 199,879
|
$ 14,983
|
$ 8,270
|
$1,037
|
$ 8,360
|
$ 252,337
|
$13,103
|
$ 265,440
|
|
Members ..................................................................................
|
98,517
|
56,551
|
1,363
|
5,645
|
7
|
259
|
162,342
|
|
162,342
|
|
Sponsors ..................................................................................
|
440,784
|
|
232
|
|
|
|
441,016
|
|
441,016
|
|
Total contributions ..............................................................
|
559,109
|
256,430
|
16,578
|
13,915
|
1,044
|
8,619
|
855,695
|
13,103
|
868,798
|
|
Investment income:
|
|
|
|
|
|
|
|
|
|
|
Net appreciation (depreciation) in fair value of investment ....
|
868,285
|
538,822
|
8,334
|
79,331
|
114
|
5,361
|
1,500,247
|
(1,144)
|
1,499,103
|
|
Interest ........................................................................................
|
370,149
|
205,673
|
6,098
|
19,496
|
444
|
2,243
|
604,103
|
5,549
|
609,652
|
|
Dividends......................................................................................
|
157,183
|
91,478
|
1,871
|
12,681
|
102
|
1,036
|
264,351
|
|
264,351
|
|
Real estate operating net income ..............................................
|
9,384
|
4,122
|
203
|
522
|
28
|
96
|
14,355
|
|
14,355
|
|
Total investment income ....................................................
|
1,405,001
|
840,095
|
16,506
|
112,030
|
688
|
8,736
|
2,383,056
|
4,405
|
2,387,461
|
|
Less investment expense ................................................................
|
93,426
|
54,423
|
1,725
|
7,251
|
105
|
728
|
157,658
|
|
157,658
|
|
Net investment income........................................................
|
1,311,575
|
785,672
|
14,781
|
104,779
|
583
|
8,008
|
2,225,398
|
4,405
|
2,229,803
|
|
Total additions ....................................................................
|
1,870,684
|
1,042,102
|
31,359
|
118,694
|
1,627
|
16,627
|
3,081,093
|
17,508
|
3,098,601
|
|
Deductions:
|
|
|
|
|
|
|
|
|
|
|
Benefit payments ........................................................................
|
679,659
|
382,718
|
14,034
|
35,002
|
247
|
3,426
|
1,115,086
|
9,374
|
1,124,460
|
|
Refunds ........................................................................................
|
7,557
|
9,035
|
3
|
275
|
|
28
|
16,898
|
|
16,898
|
|
Administrative expenses ............................................................
|
14,852
|
8,601
|
164
|
1,043
|
6
|
76
|
24,742
|
104
|
24,846
|
|
Net transfers.. ..................... .........................................................
|
3,197
|
31,579
|
3
|
(50)
|
|
(34,729)
|
|
|
|
|
Total deductions ..................................................................
|
705,265
|
431,933
|
14,204
|
36,270
|
253
|
(31,199)
|
1,156,726
|
9,478
|
1,166,204
|
|
Net increase in plan assets ....................................................
|
1,165,419
|
610,169
|
17,155
|
82,424
|
1,374
|
47,826
|
1,924,367
|
8,030
|
1,932,397
|
|
Net assets held in trust for pension benefits:
|
|
|
|
|
|
|
|
|
|
|
July 1,1998 ..................................................................................
|
16,835,903
|
9,783,597
|
188,044
|
1,188,014
|
7,388
|
58,236
|
28,061,182
|
56,891
|
28,118,073
|
|
June 30, 1999 ................................................................................
|
$18,001,322
|
$10,393,766
|
$205,199
|
$1,270,438
|
$8,762
|
$106,062
|
$29,985,549
|
$64,921
|
$30,050,470
|
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