Fiscal year Ended June 30, 2007 - psers
Fiscal year Ended June 30, 2007 - psers
Fiscal year Ended June 30, 2007 - psers
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Page 15<br />
TABLE 5<br />
DERIVATION OF ACTUARIAL VALUE OF ASSETS<br />
AS OF JUNE <strong>30</strong>, <strong>2007</strong><br />
($ Amounts in Thousands)<br />
1. Market Value of Assets as of <strong>June</strong> <strong>30</strong>, <strong>2007</strong> $ 67,438,289<br />
2. Determination of Deferred Gain (Loss)<br />
Return on Assets<br />
<strong>Fiscal</strong><br />
Deferred<br />
Year Actual Expected Difference % Deferred Amount<br />
2006/<strong>2007</strong> $ 12,658,871 $ 4,359,054 $ 8,299,817 80% $ 6,639,854<br />
2005/2006 7,901,068 4,242,878 3,658,190 60% 2,194,914<br />
2004/2005 6,044,<strong>30</strong>5 4,321,981 1,722,324 40% 688,929<br />
2003/2004 8,201,871 4,404,561 3,797,310 20% 759,462<br />
$<br />
10,283,159<br />
3. Actuarial Value of Assets (1) - (2) $ 57,155,1<strong>30</strong><br />
4. Actuarial Rate of Return * 13.94%<br />
* The actuarial rate of return is the investment return based on the change in the actuarial value of<br />
assets from the <strong>June</strong> <strong>30</strong>, 2006 valuation to the <strong>June</strong> <strong>30</strong>, <strong>2007</strong> valuation.<br />
THE PUBLIC SCHOOL EMPLOYEES’<br />
RETIREMENT SYSTEM OF PENNSYLVANIA<br />
BUCK CONSULTANTS