Comprehensive Annual Financial Report - Minnesota State ...
Comprehensive Annual Financial Report - Minnesota State ... Comprehensive Annual Financial Report - Minnesota State ...
Fair Value of Investments General Employees Retirement Fund $12,000 $10,000 $8,894 $8,000 $6,000 $4,000 $2,000 50 Millions Public Employees Retirement Association of Minnesota $13,555 2002 2004 2006 2008 2010 2012 Despite investment losses in 2008 and 2009, the fair value of investments is close to its all-time high for the General Fund. Last 10 Years $4,000 $3,000 $2,000 $1,000 $200 $150 $100 Police and Fire Fund $5,000 $3,692 2002 2004 2006 2008 2010 2012 Fair value of Police and Fire Fund investments increased 46 percent in three years, erasing most of the losses from 2008-09. $250 $ 50 Millions Public Employees Correctional Fund Millions $34 2002 2004 2006 2008 2010 2012 Created in 1999, the Public Employees Correctional Fund now has investments valued at $305 million. $305 $5,766
SBI & Consultants: State Board of Investment $ 1,238 Financial Control Systems 182 Nuveen Investment Solutions 157 Pension Consulting Alliance 15 Total $ 1,592 Outside Money Managers: Active Domestic Equity: Barrow, Hanley $ 380 Earnest Partners 189 Goldman Equity 556 Hotchkis and Wiley 561 Intech Investment 474 Jacobs Levy Equity 452 Knelman Asset Management 147 LSV Asset 319 Martingale 275 McKinley Capital 410 New Amsterdam 243 Next Century 929 Peregrine Capital 664 Sands Capital 731 Systematic Financial 385 Turner Investment 651 UBS Asset Management 276 Winslow Capital 261 Zevenbergen Capital 600 Total $ 8,503 Passive Domestic Equity: Blackrock $ 358 Schedule of Investment Fees For the Fiscal Year Ended June 30, 2012 (in thousands) Investment Section Semi Passive Equity: Blackrock $ 1,052 Mellon Capital 679 JP Morgan 1,127 Intech Investment 719 Total $3,577 Global Equity: Acadian Asset $ 496 AllianceBernstein 223 AQR Capital Management 549 Capital Group 2,105 Columbia Investments 347 Invesco Global 305 JP Morgan Fleming 423 Marathon Asset 719 McKinley Capital 402 Morgan Stanley Dean 2,351 Pyramis Global Advisors 865 State Street 640 Total $9,425 Domestic Bonds: Aberdeen Asset Management $ 579 Blackrock Financial 411 Columbia Investment 406 Dodge & Cox 502 Goldman Sachs 575 Neuberger 254 Pimco 1,129 Western Asset Management 547 Total $ 4,403 Fixed Interest: Galliard Capital Management $ 7 Total Investment Fees $27,865 PERA's assets are commingled in various pooled investment accounts administered by the State Board of Investment. The SBI uses outside money managers and consultants to invest the assets. The amounts in this schedule represent PERA's share of fees paid to SBI, and fees paid by SBI to consultants and money managers. A listing of commissions paid to brokers by the money managers can be obtained from the Minnesota State Board of Investment. Public Employees Retirement Association of Minnesota 51
- Page 7 and 8: Achievement Awards GFOA The Governm
- Page 9 and 10: December 27, 2012 Board of Trustees
- Page 11 and 12: Economic Conditions and Outlook Alt
- Page 13 and 14: National Recognition PERA has an ou
- Page 15 and 16: Ross E. Arneson General Membership
- Page 17 and 18: The Public Employees Police and Fir
- Page 19 and 20: Pre-Age 62 Increase — This pensio
- Page 21 and 22: Legislative Auditor’s Report Mana
- Page 23 and 24: Legislative Auditor’s Report O L
- Page 25 and 26: Financial Highlights å PERA’s Ne
- Page 27 and 28: made in 2010 and contribution rate
- Page 29 and 30: This page left blank intentionally.
- Page 31 and 32: Statewide Public Employees Agency F
- Page 33 and 34: Financial Section Minneapolis Emplo
- Page 35 and 36: facilities. Elected officials and a
- Page 37 and 38: are recognized as revenues when due
- Page 39 and 40: å The aggregate value of these obl
- Page 41 and 42: of the value protected by the wrap
- Page 43 and 44: age of pay, and are specified in st
- Page 45 and 46: Employer pension contributions for
- Page 47 and 48: Schedule of Employer Contributions
- Page 49 and 50: Source of Expenses Schedule of Inve
- Page 51 and 52: Investment Report Investment Result
- Page 53 and 54: Investment Report MINNESOTA STATE B
- Page 55 and 56: 25% 20% 15% 10% 5% 0% -5% -10% -15%
- Page 57: Investment Summary at Fair Value Fo
- Page 61 and 62: Actuary’s Certification Letter Su
- Page 63 and 64: Actuary’s Certification Letter De
- Page 65 and 66: General Employees Retirement Fund A
- Page 67 and 68: Other Assumptions Separation GERF u
- Page 69 and 70: General Employees Retirement Fund A
- Page 71 and 72: Public Employees Correctional Fund
- Page 73 and 74: General Employees Retirement Fund A
- Page 75 and 76: Public Employees Correctional Fund
- Page 77 and 78: Introduction Schedule of Changes in
- Page 79 and 80: Introduction December 14, 2012 Publ
- Page 81 and 82: Statistical Section 2007 2008 2009
- Page 83 and 84: Statistical Section 2007 2008 2009
- Page 85 and 86: Statistical Section 2007 2008 2009
- Page 87 and 88: Fire Department Statistical Section
- Page 89 and 90: General Employees Retirement Fund A
- Page 91 and 92: Statistical Section Schedule of New
- Page 93 and 94: General Employees Retirement Fund S
- Page 95 and 96: Schedule of Benefit Recipients by T
- Page 97 and 98: Top 10 States by PERA Annuitant Pop
- Page 99 and 100: General Employees Retirement Fund P
- Page 101 and 102: ISANTI ISLE IVANHOE JACKSON JANESVI
- Page 103 and 104: DEER CREEK DEER PARK DEER RIVER DEE
- Page 105 and 106: PIERZ PIKE PIKE BAY PIKE CREEK PILL
- Page 107 and 108: BROOKLYN CENTER ISD-286 BROOTEN ISD
Fair Value of Investments<br />
General Employees<br />
Retirement Fund<br />
$12,000<br />
$10,000<br />
$8,894<br />
$8,000<br />
$6,000<br />
$4,000<br />
$2,000<br />
50<br />
Millions<br />
Public Employees<br />
Retirement Association<br />
of <strong>Minnesota</strong><br />
$13,555<br />
2002 2004 2006 2008 2010 2012<br />
Despite investment losses in 2008 and 2009, the<br />
fair value of investments is close to its all-time high<br />
for the General Fund.<br />
Last 10 Years<br />
$4,000<br />
$3,000<br />
$2,000<br />
$1,000<br />
$200<br />
$150<br />
$100<br />
Police and Fire Fund<br />
$5,000<br />
$3,692<br />
2002 2004 2006 2008 2010 2012<br />
Fair value of Police and Fire Fund investments<br />
increased 46 percent in three years,<br />
erasing most of the losses from 2008-09.<br />
$250<br />
$ 50<br />
Millions<br />
Public Employees<br />
Correctional Fund<br />
Millions<br />
$34<br />
2002 2004 2006 2008 2010 2012<br />
Created in 1999, the Public Employees<br />
Correctional Fund now has investments<br />
valued at $305 million.<br />
$305<br />
$5,766
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