|
STATE OF MARYLAND
Required Supplemental Schedule of Funding Progress for
Pension and Retirement System
(Expressed in Thousands)
|
Actuarial
|
|
Actuarial
|
(Unfunded AAL)
|
|
|
(Unfunded AAL)
|
|
Valuation
|
Actuarial
|
Accrued
|
/Excess of
|
|
|
/Excess as a
|
|
Date
|
Value of
|
Liability (AAL)
|
Assets
|
Funded
|
Covered
|
Percentage of
|
|
June 30,
|
Assets
|
Entry Age
|
over AAL
|
Ratio
|
Payroll(l)
|
Covered Payroll(2)
|
|
|
|
TEACHERS
|
RETIREMENT AND PENSION
|
SYSTEM
|
|
|
|
2000
|
$18,419,539
|
$18,994,294
|
$ (574,755)
|
96.97%
|
$3,753,096
|
(15.31)%
|
|
1999
|
16,634,932
|
18,036,251
|
(1,401,319)
|
92.23
|
3,576,867
|
(39.18)
|
|
1998
|
14,934,503
|
17,452,181
|
(2,517,678)
|
85.57
|
3,454,377
|
(72.88)
|
|
1997
|
13,142,495
|
16,292,451
|
(3,149,956)
|
80.67
|
3,151,218
|
(99.96)
|
|
1996
|
11,630,258
|
15,616,273
|
(3,986,015)
|
74.48
|
3,065,203
|
(130.04)
|
|
1995
|
10,508,766
|
14,844,365
|
(4,335,599)
|
70.79
|
2,986,391
|
(145.18)
|
|
1994
|
9,634,321
|
14,070,829
|
(4,436,508)
|
68.47
|
2,821,756
|
(157.23)
|
|
|
|
EMPLOYEES
|
RETIREMENT AND PENSION
|
SYSTEM
|
|
|
|
2000
|
$10,593,917
|
$ 9,907,683
|
$ 686,234
|
106.93%
|
$2,870,990
|
23.90%
|
|
1999
|
9,557,556
|
9,203,218
|
354,338
|
103.85
|
2,659,022
|
13.33
|
|
1998
|
8,621,081
|
8,877,652
|
(256,571)
|
97.11
|
2,552,880
|
(10.05)
|
|
1997
|
7,668,655
|
8,060,733
|
(392,078)
|
95.14
|
2,399,504
|
(16.34)
|
|
1996
|
6,870,504
|
7,690,211
|
(819,707)
|
89.34
|
2,474,815
|
(33.12)
|
|
1995
|
6,294,727
|
7,361,026
|
(1,066,299)
|
85.51
|
2,446,296
|
(43.59)
|
|
1994
|
5,843,445
|
6,969,182
|
(1,125,737)
|
83.85
|
2,328,321
|
(48.35)
|
|
|
|
STATE
|
POLICE RETIREMENT SYSTEM
|
|
|
|
|
2000
|
$ 1,269,418
|
$ 911,273
|
$ 358,145
|
139.30%
|
$ 82,610
|
433.54%
|
|
1999
|
1,150,559
|
850,041
|
300,518
|
135.35
|
78,781
|
381.46
|
|
1998
|
1,033,274
|
739,074
|
294,200
|
139.81
|
70,663
|
416.34
|
|
1997
|
909,549
|
744,496
|
165,053
|
122.17
|
62,936
|
262.26
|
|
1996
|
802,943
|
675,097
|
127,846
|
118.94
|
60,823
|
210.19
|
|
1995
|
728,440
|
641,610
|
86,830
|
113.53
|
60,677
|
143.10
|
|
1994
|
675,456
|
606,019
|
69,437
|
111.46
|
59,098
|
117.49
|
|
|
|
|
JUDGES RETIREMENT SYSTEM
|
|
|
|
|
2000
|
$ 216,374
|
$ 236,446
|
$ (20,072)
|
91.51%
|
$ 30,891
|
(64.98)%
|
|
1999
|
192,909
|
231,394
|
(38,485)
|
83.37
|
30,307
|
(126.98)
|
|
1998
|
170,953
|
220,136
|
(49,183)
|
77.66
|
25,553
|
(192.47)
|
|
1997
|
149,283
|
213,259
|
(63,976)
|
70.00
|
25,007
|
(255.83)
|
|
1996
|
131,631
|
196,319
|
(64,688)
|
67.05
|
23,917
|
(270.47)
|
|
1995
|
118,573
|
188,445
|
(69,872)
|
62.92
|
23,064
|
(302.95)
|
|
1994
|
106,758
|
177,720
|
(70,962)
|
60.07
|
22,831
|
(310.81)
|
|
|
|
LAW ENFORCEMENT
|
OFFICERS' PENSION
|
SYSTEM
|
|
|
|
2000
|
$ 140,034
|
$ 214,822
|
$ (74,788)
|
65.19%
|
$ 51,544
|
(145.10)%
|
|
1999
|
102,040
|
140,677
|
(38,637)
|
72.53
|
37,305
|
(103.57)
|
|
1998
|
83,430
|
115,534
|
(32,104)
|
72.21
|
30,512
|
(105.22)
|
|
1997
|
44,947
|
60,824
|
(15,877)
|
73.90
|
12,905
|
(123.03)
|
|
1996
|
15,333
|
54,583
|
(39,250)
|
28.09
|
11,646
|
(337.03)
|
|
1995
|
12,208
|
49,051
|
(36,843)
|
24.89
|
11,369
|
(324.07)
|
|
1994
|
9,458
|
44,487
|
(35,029)
|
21.26
|
10,177
|
(344.20)
|
|
|
|
|
LOCAL FIRE AND POLICE SYSTEM
|
|
|
|
|
2000
|
$ 10,099
|
$ 15,349
|
$ (5,250)
|
65.80%
|
$ 7,109
|
(73.85)%
|
|
1999
|
8,583
|
13,799
|
(5,216)
|
62.20
|
6,691
|
(77.96)
|
|
1998
|
7,114
|
12,358
|
(5,244)
|
57.57
|
6,288
|
(83.40)
|
|
1997
|
5,767
|
11,446
|
(5,679)
|
50.38
|
5,815
|
(97.66)
|
|
1996
|
4,611
|
8,875
|
(4,264)
|
51.95
|
4,430
|
(96.25)
|
|
1995
|
3,868
|
8,040
|
(4,172)
|
48.11
|
4,353
|
(95.84)
|
|
1994
|
3,139
|
7,226
|
(4,087)
|
43.44
|
4,066
|
(100.52)
|
|
|
|
|
TOTAL OF ALL PLANS
|
|
|
|
|
2000
|
$30,649,381
|
$30,279,867
|
$ 369,514
|
101.22%
|
$6,796,240
|
5.44%
|
|
1999
|
27,646,579
|
28,475,380
|
(828,801)
|
97.09
|
6,388,973
|
(12.97)
|
|
1998
|
24,850,355
|
27,416,935
|
(2,566,580)
|
90.64
|
6,140,273
|
(41.80)
|
|
1997
|
21,920,696
|
25,383,209
|
(3,462,513)
|
86.36
|
5,657,385
|
(61.20)
|
|
1996
|
19,455,280
|
24,241,358
|
(4,786,078)
|
80.26
|
5,640,834
|
(84.85)
|
|
1995
|
17,666,582
|
23,092,537
|
(5,425,955)
|
76.50
|
5,532,150
|
(98.08)
|
|
1994
|
16,272,577
|
21,875,463
|
(5,602,886)
|
74.39
|
5,246,249
|
(106.80)
|
(1) Covered payroll includes the payroll cost of those participants which the State pays the retirement contribution but does not pay the participants payroll cost.
(2) Percentage of (Unfunded AAL)/ excess assets over AAL as a percentage of covered payroll.
82
|
 |
