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S T A T I S T I C A L / C H A N G E S I N P L A N N E T A S S E T S CHANGES IN PLAN NET ASSETS FOR THE LAST TEN FISCAL YEARS ENDED JUNE 30 (MILLIONS OF DOLLARS) 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Additions Employee Contributions (1) $ 6.7 $ 7.4 $ 8.4 $ 10.8 $ 17.3 $ 34.7 $ 33.6 $ 40.8 $ 41.9 $ 44.5 Employer Contributions (2) 51.8 36.4 38.1 41.1 50.6 616.1 700.6 316.1 302.5 320.5 Investment Income (Net of expenses) 466.9 396.0 564.4 (344.8) (164.8) 149.9 936.5 794.7 962.2 1119.3 Total Additions $ 525.4 $ 439.8 $ 610.9 $(292.9) $ (96.9) $800.7 $1,670.7 $1,151.6 $1,306.6 $1,484.3 Deductions Administrative Expenses $ 4.5 $ 4.8 $ 5.3 $ 6.4 $ 7.6 $ 7.0 $ 7.4 $ 7.5 $ 8.0 $ 10.3 Retirement Benefits (1) (3) 103.7 121.3 132.8 144.1 163.0 201.2 228.8 259.5 290.2 322.6 Health Benefits 6.6 7.9 9.0 10.8 14.3 19.9 26.5 32.6 32.9 35.3 Refunds 0.9 1.4 1.7 1.6 1.5 2.8 2.7 2.2 3.0 2.6 Total Deductions $ 115.7 $ 135.4 $ 148.8 $ 162.9 $ 186.4 $230.9 $ 265.4 $ 301.8 $ 334.1 $ 370.8 Total Change in Net Assets $ 409.7 $ 304.4 $ 462.1 $(455.8) $(283.3) $569.8 $1,405.3 $ 849.8 $ 972.5 $1,113.5 NOTES: (1) Enhancement of Plan benefits in March 2002, resulted in an increase in member contributions and benefit payments. (2) Includes proceeds from Pension obligation bonds of $550 million in 2003 and $450 million in 2004. (3) Refer to benefit and refund deductions for detail. SDCERA NET ASSET VALUE Millions of Dollars 10,000 10,000 8,000 6,000 4,000 2,000 - Millions of Dollars 8,000 6,000 4,000 2,000 - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 For the Fiscal Years Ended June 30 For the Fiscal Years Ended June 30 Beginning Net Asset Beginning Net Asset Ending Net Asset Ending Net Asset 74 COMPREHENSIVE ANNUAL FINANCIAL REPORT 2007
B E N E F I T S / S T A T I S T I C A L ADDITIONS TO PLAN NET ASSETS BY SOURCE Employee Contributions Employer Contributions Investment Income Total $1,800 $1,350 Employee Contributions Employer Contributions Investment Income Total $1,800 $1,350 $900 $450 $900 $450 $0 -$450 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 $0 -$450 100% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 DEDUCTIONS 80% FROM PLAN NET ASSETS BY TYPE 100% 80% 60% 40% 60% 40% 20% 0% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 20% Administrative Retirement Benefits Medical Payments Refund 0% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Administrative Retirement Benefits Medical Payments Refund COMPREHENSIVE ANNUAL FINANCIAL REPORT 2007 75
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C u l • t i • v a t e To foster
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COMPREHENSIVE ANNUAL FINANCIAL REPO
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I N T R O D U C T I O N / L E T T E
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I N T R O D U C T I O N / L E T T E
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8 COMPREHENSIVE ANNUAL FINANCIAL RE
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I N T R O D U C T I O N / O R G A N
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F I N A N C I A L / I N D E P E N D
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F I N A N C I A L / M A N A G E M E
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F I N A N C I A L / M A N A G E M E
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F I N A N C I A L / S T A T E M E N
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F I N A N C I A L / N O T E S T O T
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