Comprehensive Annual Financial Report - Minnesota State ...
Comprehensive Annual Financial Report - Minnesota State ... Comprehensive Annual Financial Report - Minnesota State ...
2012 Comprehensive Financial Report This page left blank intentionally.
Introduction December 14, 2012 Public Employees Retirement Association of Minnesota 60 Empire Drive, Suite 200 Saint Paul, Minnesota 55103-2088 Member Information Services: 651-296-7460 or 1-800-652-9026 Employer Response Lines: 651-296-3636 or 1-888-892-7372 PERA Fax Number: 651-297-2547 PERA Website: www.mnpera.org GASB Statement No. 44, Economic Condition Reporting: The Statistical Section, was issued in May 2004. The statement establishes requirements related to the supplementary information presented in the Statistical Section of this report. The objective of the information found in the Statistical Section is to provide financial statement users with additional historical perspective, context and detail. We trust that when used in conjunction with information found in previous sections of this report, readers will gain a better understanding of PERA’s overall financial condition. Financial Information The Schedule of Changes in Net Assets is presented for the last 10 years, giving the reader an opportunity to review trends in the revenues and expenses of our defined benefit plans. Benefits and refunds are then broken down by type. The Revenues and Expenses graph on page 74 shows that almost two-thirds of our revenue has come from investment income over the past 20 years, despite two deep recessions during that time period. Plan Membership Membership and financial information for the Statewide Volunteer Firefighter Retirement Plan is provided on page 75. Membership data for the three largest plans over the past ten years can be found on page 76. Active membership rose until 2008, and has since fallen back to previous levels, while the number of benefit recipients has increased 45 percent and the number of terminated vested members has increased 43 percent since 2002. The graphs on page 77 show the distribution of our active membership as of 6/30/12. Information about PERA’s benefit recipients is provided on pages 78 through 86, including monthly benefit amounts, types of benefits, benefit options, and location of benefit recipients. Employers The rest of this section provides information about the employers who participate in PERA. All non-accounting data is derived from PERA’s internal sources. Assistant Executive Director, Finance and IS S tatistical Section Public Employees Retirement Association of Minnesota 67
- Page 27 and 28: made in 2010 and contribution rate
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- Page 31 and 32: Statewide Public Employees Agency F
- Page 33 and 34: Financial Section Minneapolis Emplo
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- Page 37 and 38: are recognized as revenues when due
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- 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
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- Page 69 and 70: General Employees Retirement Fund A
- Page 71 and 72: Public Employees Correctional Fund
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- Page 77: Introduction Schedule of Changes in
- Page 81 and 82: Statistical Section 2007 2008 2009
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- Page 87 and 88: Fire Department Statistical Section
- Page 89 and 90: General Employees Retirement Fund A
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- Page 95 and 96: Schedule of Benefit Recipients by T
- Page 97 and 98: Top 10 States by PERA Annuitant Pop
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2012 <strong>Comprehensive</strong> <strong>Financial</strong> <strong>Report</strong><br />
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