a complete copy of the 2012 CAFR Report! - PSERs

FINANCIAL SECTION
Supplementary Schedule 1
Schedule of Operating Expenses
Year Ended June 30, 2012
(Dollar Amounts in Thousands)
Administrative
Expenses (1)
Investment
Expenses (2)
Total
Personnel costs:
Salaries and wages $ 15,268 $ 3,681 $ 18,949
Social security contributions 1,144 229 1,373
Retirement contributions 1,104 259 1,363
Employees’ insurance contributions 4,713 545 5,258
Other employee benefits 50 130 180
Total personnel costs 22,279 4,844 27,123
Operating costs:
Investment managers’ fees - 467,195 467,195
Custodian fees - 604 604
Specialized services 17,553 2,856 20,409
Rental of real estate, electricity 2,028 179 2,207
Consultant and legal fees 2,941 3,447 6,388
Treasury and other commonwealth services 1,509 182 1,691
Postage 989 - 989
Contracted maintenance and repair services 963 14 977
Office supplies 247 14 261
Rental of equipment and software 1,619 187 1,806
Printing 304 - 304
Travel and training 165 13 178
Telecommunications 730 1 731
Equipment (non-capital assets) 2,565 4 2,569
Miscellaneous expenses 792 1,746 2,538
Total operating costs 32,405 476,442 508,847
Other charges:
Depreciation 1,836 - 1,836
Total other charges 1,836 - 1,836
Total operating expenses $ 56,520 $ 481,286 $ 537,806
(1) Includes administrative expenses of $2,065 related to Postemployment Healthcare Premium Assistance and $20,213 related to Postemployment
Healthcare Health Options Program for the fiscal year ended June 30, 2012.
(2) Includes investment expenses of $52 related to Postemployment Healthcare Premium Assistance for fiscal year ended June 30, 2012 and does
not include $8,006 in capitalized broker commissions for the fiscal year ended June 30, 2012.
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