State Employees’ Retirement Fund Market Value Altimeter
June 2007
| Valuation Date |
Market Value (in billions) |
| 4/30/07 | $11.695 |
| 3/31/07 | $11.392 |
| 2/28/07 | $11.304 |
| 1/31/07 | $11.369 |
| 12/31/06 | $11.311 |
| 9/30/06 | $10.836 |
| 6/30/06 | $10.494 |
| 3/31/06 | $10.590 |
| 12/31/05 | $10.273 |
| 12/31/04 | $9.785 |
| 12/31/03 | $9.369 |
| 12/31/02 | $8.573 |
| 12/31/01 | $9.914 |
| 12/31/00 | $10.890 |
| 12/31/99 | $11.055 |
| 12/31/98 | $10.020 |
| 12/31/97 | $8.922 |
| 12/31/96 | $7.654 |
| 12/31/94 | $5.385 |
| 12/31/90 | 3.9935 |
The State Employee Retirement Investment Portfolio continued its climb to another record of 11.695 billion as of April 30, 2007. This proves an increase of 303 million from month ended March 31, 2007. The fund appears to be keeping pace with the Dow Jones Industrial average which at the end of May exceeded 13,600.00.
Observations, Facts and Assumptions
This writer in the coming month of June 2007 will celebrate my 69th high school graduation. The year was 1938 from Lansing Eastern High School. The Dow Jones average at the time was 155. Bread was 9 cents a loaf, milk 50 cents a gallon, eggs 57 cents a dozen, a new car $710, gas 20 cents a gallon, a new house $6,420, stamps 3 cents each, average income $1,808 and minimum wage 25 cents an hour. Sometimes things being relative could be questionable. This period of time was the tail end of the Great Depression and jobs were difficult to find. Then came World War II. Top songs in 1938 were: Begin the Beguine by Artie Shaw, Bei Mir Bist Du Schoen by the Andrew Sisters, Thanks for the Memory by Shep Fields and I’ve Got a Pocket Full of Dreams by Bing Crosby. Now the “kids” are listening to a noise with a beat called Rap ’ we’ve come a long way, girl! Sarcasm emphasized.
Some legislative activity: HB 4005 Retirement; State Employees; Early retirement for certain employees; provides 80 and out. This type of legislation has been proposed several times in the past and makes good sense. Another, HB 4075, provides for 75 and out and HB 4801 wold tax the pensions of those making in excess of $41,000 annually.
It might surprise some that Michigan is not the only state that has a questionable economy. It appears that more state taxes may be looming in this great state. Our pension fund at the end of September 2006 funded at 79.6% manageable. The State’s new actuary, Gabriel Roeder Smith Company, has advised the near future should show an 85% funded. Good news! Although our state pensions are guaranteed by Constitution the higher the percent of funding the less the state has to contribute.
Did You Know
- Michigan has more than 11,000 inland lakes and more than 36,000 miles of stream.
- Michigan was the first state to provide in its constitution for the establishment of public libraries.
- Michigan’s economy was hit especially hard during the Great Depression because of its reliance on the auto industry. Déjà vu.
- The Mayo Clinic advises today there are more than 200 most common health problems.
Ponder This
- When I was young, I thought that money was the most important thing in life. Now that I am old, I know it is.
- The reason a dog has so many friends is because he wags his tail instead of his tongue.
- These days about half the stuff in my shopping cart says “for fast relief.”
- Reading while sunbathing makes you well red.
- For Sale by Owner: Complete set of encyclopedia Britannica, 45 volumes excellent condition, $1,000. No longer needed. Recently married. Husband knows everything.
- The phrase “working mother” is redundant.
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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