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PERA
Financial Information for Funds Administered by PERA
For the Year Ended December 31, 2007
(Includes all funds - Division Trust Funds, Colorado PERA 401(k)/DC Plans, Health Care Trust Fund, and Life Insurance Reserve)
(In Thousands of Dollars)
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Net Assets Available for
Benefits
December 31, 2006 |
$40,416,162 |
|
Additions |
|
Employer Contributions |
$754,274 |
Member Contributions |
$699,071 |
|
Purchased Service |
$25,117 |
Investment Income |
$3,983,543 |
|
Other |
$18,851 |
|
Total Additions |
5,598,673 |
Deductions |
|
Benefits Payments |
$2,545,249 |
|
Refunds |
$233,730 |
|
Disability Insurance Premiums |
$13,363 |
|
Administrative Expenses |
$39,109 |
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Other |
$11,358 |
|
Total Deductions |
$2,842,809 |
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Net Assets Available for Benefits
December
31, 2007 |
$43,172,026 |
PERA Trust Fund Results
(compared
to respective benchmarks)
(Does not include the Colorado PERA 401(k)/DC Plans)
|
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|
2007 |
3-Year Annualized |
5-Year Annualized |
10-Year Annualized |
|
PERA Total Portfolio |
10.0% |
11.7% |
14.4% |
8.1% |
| |
Total Fund Policy Benchmark |
8.7% |
10.4% |
– |
– |
|
|
Median Plan (Russell/Mellon's Median Public Fund
Universe) |
8.0% |
9.6% |
13.0% |
7.7% |
|
Domestic Stocks |
6.6% |
9.4% |
13.6% |
6.6% |
|
|
DJ Wilshire 50001 |
5.6% |
9.1% |
13.6% |
6.5% |
|
International Stocks |
17.1% |
20.0% |
23.9% |
10.7% |
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MSCI ACWI Ex-U.S.1 |
16.7% |
19.9% |
23.6% |
9.8% |
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Fixed Income |
6.5% |
4.7% |
5.2% |
5.4% |
|
|
Lehman Brothers Universal1 |
6.5% |
4.7% |
4.6% |
6.1% |
|
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Lehman Brothers Aggregate |
7.0% |
4.6% |
4.4% |
6.0% |
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Alternative Investments |
19.3% |
20.8% |
22.5% |
13.2% |
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Custom
Alternative Benchmark2
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8.6% |
12.1% |
17.0% |
9.3% |
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Real Estate |
18.1% |
22.6% |
20.7% |
14.7% |
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Custom Real Estate Benchmark3 |
15.8% |
15.2% |
16.3% |
11.7% |
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PERA
Timber Investments |
16.4% |
14.5% |
16.1% |
10.4% |
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NCREIF Timberland
Property Index |
18.4% |
17.1% |
14.0% |
8.6% |
1
The Colorado PERA Board of Trustees adopted new benchmarks for
domestic stock, international stock, and fixed income as of
April 1, 2004. Accordingly, the benchmark returns presented
represent a blend as follows:
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The Total Fund benchmark is a combination of 45 percent
of the DJ Wilshire 5000 Stock Index; 15 percent of the
Morgan Stanley Capital International All Country World
Ex-U.S. Index; 25 percent of the Lehman Brothers
Universal Bond Index; 7 percent of the Colorado PERA
Real Estate Index; 7 percent of the Colorado PERA
Alternatives Index; and 1 percent of the NCREIF Timber
Index. Prior to January 1, 2006, the weight for the MSCI
ACWI Ex-U.S. Index was 14 percent and the Custom
Alternative Benchmark was 8 percent.
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Domestic Stocks–S&P 1500 prior to April 1, 2004; DJ
Wilshire 5000 beginning April 1, 2004.
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International Stocks–EAFE Custom Index (75 percent MSCI
EAFE Index and 25 percent MSCI EAFE excluding Japan)
prior to April 1, 2004; MSCI ACWI excluding U.S.
beginning April 1, 2004. |
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Fixed Income–Lehman Aggregate prior to April 1, 2004;
Lehman Universal beginning April 1, 2004.
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2
DJ Wilshire 5000 plus 300 basis points.
3
Beginning January 1, 2006: NFI (NCREIF Open Core Fund Index) plus
100 basis points; prior to January 1, 2006:
15 percent NAREIT, 45 percent NCREIF Property, 20 percent CITI
Mortgage, and 20 percent Global Property Research.
Note: Performance calculations
were prepared using net-of-fee time-weighted rates of return.
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