PENSION TRUST FUNDS by wxv15919

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									                                                                  West Virginia



PENSION TRUST FUNDS
 Pension Trust and Investment Trust Funds These Funds are accounted for in
 essentially the same manner as proprietary funds, and are described below:

 Consolidated Public Retirement Board The Consolidated Public Retirement
 Board consists of seven plans. There are six defined benefit plans as follows: The
 Public Employees’ Retirement System (PERS) plan is a multiple-employer defined
 benefit, cost-sharing public employee retirement system. This plan covers
 substantially all employees of the State and its component units, as well as
 employees of participating non-State governmental entities who are not participants
 of another State or municipal retirement system. The Deputy Sheriff Retirement
 System (DSRS) plan is a multiple-employer defined benefit, cost-sharing public
 employee retirement system. This plan covers all deputy sheriffs hired on or after
 July 1, 1998, as well as eligible transferees from PERS. The Teachers’ Retirement
 System (TRS) plan is a multiple-employer defined benefit, cost- sharing public
 employee retirement system. This plan covers all full-time employees of the public
 school systems in the State, as well as certain personnel of the State-supported
 institutions of higher education, State Department of Education, and Boards of
 higher education. The Public Safety Death, Disability and Retirement Fund
 (PSDDRF) plan is a single-employer defined benefit public employee retirement
 system. This plan covers all West Virginia State Police hired before July 1, 1994.
 The State Police Retirement System (SPRS) was implemented to cover all State
 Police employees hired on or after July 1, 1994. The Judges Retirement System
 (JRS) plan is a single-employer defined benefit public employee retirement system.
 This plan covers State judges who elect to participate. The Teachers’ Defined
 Contribution Retirement System (TDCRS) plan is a multiple-employer defined
 contribution retirement system. This plan primarily covers full-time employees of
 the State’s county public school systems.




                                     155
  West Virginia



Combining Statement of Fiduciary Net Assets
Pension Trust Funds
June 30, 2002
(Expressed in Thousands)




                                                                                   Public
                                                                                Safety Death,
                                                        Public                   Disability,
                                                      Employees'    Teachers'        and
                                                      Retirement   Retirement    Retirement
                                                       System        System         Fund
Assets
  Cash and Cash Equivalents                           $       2    $     126     $       2
  Investments:
     Equity Pooled Investments                        2,585,250     1,058,558        88,699
     Mutual Funds                                            —             —             —
  Receivables, Net:
     Contributions Receivable                             3,420        18,470         2,396
     Participant Loans Receivable                            —         19,329            —
  Due from Other Funds                                       26         2,041            —
  Due from Component Units                                  200            —             —

Total Assets                                          2,588,898     1,098,524        91,097

Liabilities
  Accrued and Other Liabilities                              73           83             2
  Due to Other Funds                                         48           —              —

Total Liabilities                                           121           83             2

Net Assets Held in Trust for Pension Benefits         $2,588,777   $1,098,441    $91,095




                                                156
                                                                        West Virginia




                            Teachers'                           Total
   State                     Defined            Deputy      Consolidated
  Police      Judges'     Contribution           Sheriff       Public
Retirement   Retirement    Retirement          Retirement    Retirement
 System       System         System             System         Board

$    —       $       —    $     6,266          $    —       $      6,396

 11,644          47,620            —            43,946          3,835,717
     —               —        357,860               —             357,860

     —               —          7,340              415            32,041
     —               —             —               133            19,462
     —               —             —                —              2,067
     —               —             —                —                200

 11,644          47,620       371,466           44,494          4,253,743


     —               —             —               123               281
     —               —             —                —                 48

     —               —             —               123               329

$11,644       $47,620     $371,466             $44,371      $4,253,414




                                         157
  West Virginia



Combining Statement of Changes in Plan Net Assets
Pension Trust Funds
For the Fiscal Year Ended June 30, 2002
(Expressed in Thousands)
                                                                                   Public
                                                                                   Safety
                                                                                   Death,
                                                 Public                          Disability,
                                               Employees'        Teachers'          and
                                               Retirement       Retirement       Retirement
                                                System            System           Fund
Additions:
Contributions:
 Members                                       $     47,191     $     54,748     $ 1,359
 Employer                                            96,690          252,061      19,844

  Total Contributions                               143,881          306,809      21,203

Investment Income (Loss):
 Net Appreciation (Depreciation) in
  Fair Value of Investments                          (70,395)         (29,212)     (2,168)
 Interest                                                 —             2,780          —
 Investment Expense                                   (6,384)          (2,580)       (213)

 Net Investment Income                               (76,779)         (29,012)     (2,381)

Transfers from (to) Plans                               404             (492)         —
Transfer In                                              —             5,741          —
Other                                                    —             8,951         523

  Total Additions                                    67,506          291,997      19,345

Deductions:
Benefit Expense                                     150,847          277,293      17,304
Refunds of Contributions                              7,012            4,746         137
Administrative Expenses                               2,265            2,180          38

  Total Deductions                                  160,124          284,219      17,479

Net Increase (Decrease)                              (92,618)           7,778      1,866

Net Assets Held in Trust for
Pension Benefits:
  Net Assets, Beginning of Year                    2,681,395        1,090,663     89,229

  Net Assets, End of Year                      $2,588,777       $1,098,441       $91,095




                                         158
                                                            West Virginia




                             Teachers'                     Total
   State                      Defined      Deputy      Consolidated
  Police      Judges'      Contribution     Sheriff       Public
Retirement   Retirement     Retirement    Retirement    Retirement
 System       System          System       System         Board


$ 1,220      $      457    $ 21,393       $ 1,927      $ 128,295
  1,220           6,000      35,882         2,181        413,878

  2,440           6,457      57,275         4,108        542,173



   (283)         (1,276)     (12,654)      (1,139)       (117,127)
     —               —            —            —            2,780
    (28)           (115)          —          (107)         (9,427)

   (311)         (1,391)     (12,654)      (1,246)       (123,774)

     —              66           21             1              —
     —              —            —             —            5,741
     —              —            —            453           9,927

  2,129           5,132      44,642         3,316        434,067


     46           3,539          —          1,652        450,681
    252              —        3,859           182         16,188
     12               4         696            30          5,225

    310           3,543       4,555         1,864        472,094

  1,819           1,589      40,087         1,452         (38,027)



  9,825          46,031     331,379        42,919       4,291,441

$11,644      $47,620       $371,466       $44,371      $4,253,414




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