State Employees’ Retirement Fund Market Value Altimeter
March 2004
| Valuation Date |
Market Value (in billions) |
| 1/31/2004 | $9.420 |
| 12/31/2003 | $9.369 |
| 11/30/2003 | $9.107 |
| 10/31/2003 | $9.073 |
| 9/30/2003 | $8.857 |
| 6/30/2003 | $8.707 |
| 3/31/2003 | $8.181 |
| 12/31/2002 | $8.537 |
| 12/31/2001 | $9.914 |
| 12/31/2000 | $10.890 |
| 12/31/1999 | $11.055 |
| 12/31/1995 | $6.595 |
| 12/31/1990 | $3.935 |
The State Employee Retirement Investment Portfolio increased 51 million from year end 2003 to January 31, 2004 representing a bottom line of 9.420 billion. This is the tenth month straight increase. I guess the Treasury Bureau of Investments is not the 29th largest pension fund in the world for nothing; they do it by ability, perseverance and loyalty.
Observations, Facts and Assumptions
When Alan Greenspan, Federal Reserve Chairman speaks, people listen, or they should. In recent weeks, our friend Alan in some talks and speeches, jarred many, even those working under the Dome in Washington, including President Bush. The Chairman recently explained that the I trillion (that’s with a 1) tax cuts the President has proposed should be made permanent. Then he further stated that one place to look should be in reducing the Social Security benefits paid to retirees. The President, we understand, looked at Alan and taking a verse from the bible quoted Peter by saying, “I know not this man.” (I made the last sentence up) Mr. Greenspan also has alluded to the soaring deficit which he said should be addressed. He favored to cut spending rather than raising taxes to deal with the deficit, which sometime in 2004, will exceed 521 billion. In conjunction with this information the last three years over 3 million private sector jobs have been lost representing 8.3 million unemployed. And these are good times!
Paint the house — It’s the same house. The biggest corporate fraud case in history involved WorldCom. Inc., the largest long distance company. It involved the former Chief Executive Officer, Bernard Ebbers, who was indicted in taking part in a scheme to falsely inflate earnings by 11 billion dollars. His attorney, Reid Weingarten, has an imagination. He said, “No fair minded jury would conclude that his client acted with criminal intent.”! Mr. Ebbers will be gone for awhile. In the meantime, WorldCom has changed its name to MCI. Same house.
When I was a kid during the depression little things were appreciated. Back then, little was big; a penny bought all sorts of candy. Movies were a dime. Summers seemed hot — no problem. Cars drove extra slow to save on gasoline. Things were accepted without needed explanations. In away, they were the good old days even though there was little money to be earned and spent. Today, it seems we have difficulty settling things in or out of court or our minds are cluttered with choices or excuses or knowing what’s best for the other guy. The following are some thoughts in this matter. Now we have problems with: The price of gas, smoking, drinking, drugs, jobs, jobs in Mexico, jobs in China, clergy sex abuse, Engler legacy, increase in football fees at MSU, gay marriages, dove shooting, affirmative action, gambling, Amen, WorldCom, Mars, Martha Stewart, Colby Johnson, Passion of the Christ, votes in Florida, partial birth abortion, taxes, Ralph Nader, fat foods, corporate greed, winter, Engler legacy #2, snow removal, potholes, 13th check, sunshine and Spring. “Nuff said”.
Did You Know
- The Star Spangled Banner was voted on and adopted by our country in 1931.
- Every session of Congress begins with a prayer by a paid preacher whose salary has been paid by the taxpayer since 1777.
- The Girl Scouts of America were founded in 1912.
- Aspirin was patented in 1900.
Ponder This
Why English isn’t easy:
- The bandage was wound around the wound.
- The farm was used to produce produce.
- The dump was so full it had to refuse more refuse.
- A bass was painted on the head of the bass drum.
- I did not object to the object.
- The insurance was invalid for the invalid.
- They were too close to the door to close it.
- The wind was too strong to wind the sail.
- Upon seeing the tear in the painting, I shed a tear.
- I had to subject the subject to a series of tests.
(Provided by Dot and Carroll Reid, Lansing SERA Chapter members)
Editor’s note: Al Trierweiter is a former President of the Lansing SERA Chapter, former Chairman of the Michigan SERA Coordinating Council, former Legislative Representative for both the Lansing Chapter and the SERA Council. AI may be reached at 6440 Old River Trail, Lansing 48917; phone 321-0041.
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