|
STATE OF MARYLAND
Required Supplemental Schedule of Funding Progress for
Pension and Retirement System
(Expressed in Thousands)
|
|
|
|
|
|
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Unfunded AAL /
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Actuarial
|
|
Actuarial
|
(Unfunded AAL) /
|
|
|
Excess
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|
Valuation
|
Actuarial
|
Accrued
|
Excess of
|
|
|
asa
|
|
Date
|
Value of
|
Liability (AAL)
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Assets
|
Funded
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Covered
|
Percentage of
|
|
June 30
|
Assets
|
Entry Age
|
over AAL
|
Ratio
|
Payroll(l)
|
Covered Payroll
|
|
|
|
TEACHERS
|
RETIREMENT AND PENSION
|
SYSTEM
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|
|
|
1994
|
$ 9,634,321
|
$14,070,829
|
$(4,436,508)
|
68.47%
|
$2,821,756
|
157.23%
|
|
1995
|
10,508,766
|
14,844,365
|
(4,335,599)
|
70.79%
|
2,986,391
|
145.18%
|
|
1996
|
11,630,258 ;
|
15,616,272
|
(3,986,014)
|
74.48%
|
3,065,203
|
130.04%
|
|
|
|
EMPLOYEES
|
RETIREMENT AND PENSION
|
SYSTEM
|
|
|
|
1994
|
5,843,445
|
6,969,182
|
(1,125,737)
|
83.85%
|
2,328,321
|
48.35%
|
|
1995
|
6,294,727
|
7,361,026
|
(1,066,299)
|
85.51%
|
2,446,296
|
43.59%
|
|
1996
|
6,870,504
|
7,690,211
|
(819,707)
|
89.34%
|
2,474,814
|
33.12%
|
|
|
|
STATI
|
5 POLICE RETIREMENT
|
SYSTEM
|
|
|
|
1994
|
675,456^
|
: 606,019
|
69,436
|
111.46%
|
59,0981
|
117.4996(2)
|
|
1995
|
728,440
|
641,610
|
86,830
|
113.53%
|
60,677
|
143.1096(2)
|
|
1996
|
802,943:
|
675,097
|
127,845
|
118.94%
|
60,823|
|
210.1996(2)
|
|
|
|
JUDGES
|
RETIREMENT SYSTEM
|
|
|
|
|
1994
|
106,758
|
177,720
|
(70,962)
|
60.07%
|
22,831
|
310.81%
|
|
1995
|
118,573
|
188,445
|
(69,872)
|
62.92%
|
23,064
|
302.95%
|
|
1996
|
131,631
|
196,319
|
(64,689)
|
67.05%
|
23,917
|
270.47%
|
|
|
NATURAL
|
RESOURCES
|
LAW ENFORCEMENT OF
|
FICERS PENSION
|
SYSTEM
|
|
|
1994
|
9,458
|
44,487
|
(35,029)
|
21.26%
|
10,177
|
344.20%
|
|
1995
|
12,208
|
49,051
|
(36,843)
|
24.89%
|
11,369
|
324.07%
|
|
1996
|
15,333
|
54,583
|
(39,249)
|
28.09%
|
11,646
|
337.02%
|
|
|
MUNICIPAL
|
CORP. LAW ENFORCEMENT
|
OFFICERS AND
|
FIRE FIGHTERS
|
PENSION SYSTEM
|
|
|
1994
|
3,139
|
7,226
|
(4,087)
|
43.44%
|
4,066
|
100.52%
|
|
1995
|
3,868
|
8,040
|
(4,172)
|
48.11%
|
4,353
|
95.84%
|
|
1996
|
4,611
|
8,875
|
(4,264)
|
51.95%
|
4,430
|
96.25%
|
|
|
|
|
TOTAL OF ALL PLANS
|
|
|
|
|
1994
|
16,272,577
|
21,875,463
|
(5,602,887)
|
74.39%
|
5,246,249
|
106.80%
|
|
1995
|
17,666,582
|
23,092,537
|
(5,425,955)
|
76.50%
|
5,532,150
|
98.08%
|
|
1996
|
19,455,280
|
24,241,357
|
(4,786,078)
|
80.26%
|
5,640,833
|
84.85%
|
(1) Covered payroll includes the payroll cost of those participants which the State pays the retirement contribution for, but does not pay the
participants' payroll cost
(2) Percentage of excess assets over AAL as a percentage of covered payroll.
83
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