Active Members

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 Retirees who may receive lump-sum benefit payments on retirement or who may elect to receive benefits periodically, depending on the provisions of a pension plan.

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Benefits

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Prorated using available secondary sources into appropriate investment detail (stocks, bonds, federal securities, etc.).

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Payments made to active employees on which contributions to a pension plan are based.

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Cash and Securities

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Contributions

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A retirement plan in which the amount of the pension benefit is set by a formula established through the plan. Benefits are calculated based on age, length of service, and final salary. The benefit is payable as a lifetime annuity and possibly for the lifetime of the designated beneficiary. Benefits are typically paid out in substantially equal periodic payments. The plan funds these benefits through a combination of employee contributions, employer contributions, and investment returns. There are no individual accounts

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Earnings on Investments

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Includes U.S. Treasury notes and bonds issued by agencies operating under federal authority but privately administered.

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Include U.S. Treasury bonds, notes, Federal Financing Bank and other Federal Agency securities.

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Inactive Members

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May include funds administered by private agencies, guaranteed investment accounts, and loans made to employees

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Mortgages

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 Include stocks, bonds, federally-sponsored agency securities, investments held in trust, mutual funds, and direct loans.

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Projects the total obligation required to cover costs for providing pensions to former and present employees.

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Retirement System

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Cash on hand, demand deposits, and time deposits such as certificates of deposits are classified as "cash and deposits," but may include federal securities or commercial and finance company paper not shown in detail.

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Data collected on total holding and investments, total revenue, employee contributions, government contributions, total expenditures, benefits paid, and total deposits for both State and Local retirement systems. Data are shown for individual retirement systems as well as at the national, state, and local level.

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Withdrawl

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