Annual report 1994 [1994]

Table of Contents
BOARDSOFTRUSTEES ............................................................. 1 DIRECTOR'S COMMENTS ........................................................ 2 .3
ACTUARIAL S W Y
Employees' Retirement System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 .9 Public School EmployeesRetirement System .................................... 10 .12 LegislativeRetirement System ............................................... 13 .15 Trial Judges and SolicitorsRetirement Fund ..................................... 16 .18 State Employees Assurance Department (GTLI) .................................. 19 .21
INVESTMENT REPORT
PooledInvestmentFund ....................................................... 22 StructuralAnalysis of InvestmentsRateof Return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 TemporaryInvestments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Common Stock Holdings ................................................... 25 .27 Mortgages. Other SecuredNotes. Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Purchases of Long-Term Fixed-Income Investments ................................. 29
AUDITED FINANCIAL STATEMENTS
Tableofcontents ............................................................ 30 IndependentAuditors' Report ................................................... 31
Balance Sheets. Historical Trend Information. Supplementary
Information. and Additional Information ................................ 32 .56