2011 Annual TCRS Report - Tennessee Department of Treasury

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SCHEDULES OF FUNDING PROGRESS Expressed in Thousands F I N A N C I A L S E C T I O N TENNESSEE CONSOLIDATED RETIREMENT SYSTEM REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF FUNDING PROGRESS AND EMPLOYER CONTRIBUTIONS Actuarial Accrued Liability Actuarial (AAL) Unfunded Annual Actuarial Value of Frozen AAL Funded Covered Valuation Plan Assets Entry Age (UAAL) Ratio Payroll Date (a) (b) (b-a) (a/b) ( c ) UAAL as a Percentage of Covered Payroll ((b-a)/c) SETHEEPP 7/1/2009 $ 26,335,199 $ 29,054,966 $ 2,719,767 90.64% $ 6,054,528 44.92% 7/1/2007 $ 26,214,995 $ 27,240,151 $ 1,025,156 96.24% $ 5,742,866 17.85% 7/1/2005 $ 23,627,161 $ 23,666,967 $ 39,806 99.83% $ 5,245,989 0.76% PSPP 7/1/2009 $ 5,304,455 $ 6,143,775 $ 839,320 86.34% $ 2,282,082 36.78% 7/1/2007 $ 4,897,974 $ 5,475,620 $ 577,646 89.45% $ 2,081,964 27.75% 7/1/2005 $ 4,124,013 $ 4,450,127 $ 326,114 92.67% $ 1,890,968 17.25% The schedule of funding progress is intended to present multi-year trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits. SCHEDULES OF EMPLOYER CONTRIBUTIONS Expressed in Thousands SETHEEPP PSPP Year Ended Annual Required Percentage Annual Required Percentage June 30 Contribution Contributed Contribution Contributed 2011 $ 721,759 100.00% $ 273,781 100.00% 2010 578,403 100.00% 258,324 100.00% 2009 583,985 100.00% 252,926 100.00% 2008 593,412 100.00% 244,847 100.00% 2007 562,729 100.00% 231,699 100.00% 2006 474,879 100.00% 191,000 100.00% An actuarial valuation of the TCRS is performed every two years with the next valuation scheduled to be effective July 1, 2011. P A G E 3 9
T E N N E S S E E C O N S O L I D A T E D R E T I R E M E N T S Y S T E M TENNESSEE CONSOLIDATED RETIREMENT SYSTEM SCHEDULES OF ADMINISTRATIVE EXPENSES FOR THE YEAR ENDED JUNE 30, 2011 SETHEEPP PSPP TOTAL PERSONNEL SERVICES Salaries and wages $ 972,927 $ 1,002,548 $ 1,975,475 Employee benefits 424,007 436,916 860,923 TOTAL PERSONNEL SERVICES 1,396,934 1,439,464 2,836,398 PROFESSIONAL SERVICES Accounting 95,288 98,189 193,477 Actuarial services 72,866 75,084 147,950 Data processing 217,290 223,906 441,196 Enterprise system development 0 0 0 Information systems 608,262 626,780 1,235,042 Management services 152,370 157,009 309,379 Medical review 20,232 20,848 41,080 Technology Consulting Services 0 0 0 Administrative, Internal Audit, Legal, Personnel 475,358 489,830 965,188 TOTAL PROFESSIONAL SERVICES 1,641,666 1,691,646 3,333,312 COMMUNICATION Travel 14,205 14,638 28,843 Telephone 182,666 188,227 370,893 Printing 34,870 35,932 70,802 Postage 132,736 136,778 269,514 TOTAL COMMUNICATION 364,477 375,575 740,052 MISCELLANEOUS Office space 80,065 82,502 162,567 Supplies and maintenance 8,671 8,934 17,605 Other services and charges 32,943 33,945 66,888 TOTAL MISCELLANEOUS 121,679 125,381 247,060 TOTAL ADMINISTRATIVE EXPENSES $3,524,756 $3,632,066 $7,156,822 With 219,914 active members and 117,185 retired members, the operating cost per member was $21.23 for the year ended June 30, 2011. P A G E 4 0
Page 2 and 3: T ENNESSEE CONSOLIDATED R ETIREMENT
Page 4 and 5: TABLE OF CONTENTS INTRODUCTORY SECT
Page 6 and 7: INTRODUCTORY SECTION Elvis Aaron Pr
Page 8 and 9: T E N N E S S E E C O N S O L I D A
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Page 52 and 53: INVESTMENT SECTION Nashville’s Pa
Page 62 and 63: ACTUARIAL SECTION The Lorraine Mote
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S T A T I S T I C A L S E C T I O N
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2011 Annual TCRS Report - Tennessee Department of Treasury

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