Table 4b(4) Coefficient of Variation for Cash and Investment Holdings of State and Local Government Employee-Retirement Systems by State and Level of Government: Fiscal Year 2005-2006 State and level Total other Real Miscellaneous of government investments property investments United States 0.05% 0.04% 0.07% State 0.00% 0.00% 0.00% Local 0.41% 0.21% 0.62% Alabama 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Alaska 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Arizona 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Arkansas 0.01% 0.00% 0.01% State 0.00% 0.00% 0.00% Local 100.00% 0.00% 100.00% California 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Colorado 0.25% 0.00% 0.27% State 0.00% 0.00% 0.00% Local 2.24% 0.00% 2.34% Connecticut 0.37% 0.00% 0.37% State 0.00% 0.00% 0.00% Local 3.16% 0.00% 3.24% Delaware 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% District of Columbia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Florida 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Georgia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Hawaii 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Idaho 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Illinois 0.91% 0.00% 1.03% State 0.00% 0.00% 0.00% Local 3.77% 0.00% 5.55% Indiana 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Iowa 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Kansas 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Kentucky 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Louisiana 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Maine 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Maryland 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Massachusetts 3.04% 5.43% 5.40% State 0.00% 0.00% 0.00% Local 3.60% 5.73% 6.63% Michigan 0.95% 0.00% 1.06% State 0.00% 0.00% 0.00% Local 3.56% 0.00% 5.90% Minnesota 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Mississippi 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Missouri 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Montana 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Nebraska 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Nevada 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New Hampshire 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New Jersey 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New Mexico 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% New York 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% North Carolina 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% North Dakota 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Ohio 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Oklahoma 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Oregon 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Pennsylvania 0.03% 0.10% 0.03% State 0.00% 0.00% 0.00% Local 1.05% 2.15% 1.19% Rhode Island 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% South Carolina 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% South Dakota 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Tennessee 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Texas 0.32% 0.00% 0.35% State 0.00% 0.00% 0.00% Local 1.15% 0.00% 1.67% Utah 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Vermont 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Virginia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Washington 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% West Virginia 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Wisconsin 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Wyoming 0.00% 0.00% 0.00% State 0.00% 0.00% 0.00% Local 0.00% 0.00% 0.00% Note: The standard error is a measure of the variation among the estimates from all possible samples and thus is a measure of the precision with which an estimate from a particular sample approximates the average results of all possible samples. The coefficient of variation (CV) is the estimated standard error expressed as a percent of the estimated total or proportion. Each column in this table contains the coefficients of variation that have been computed for the estimated amounts in table 4a(4). Source: U.S. Census Bureau, Governments Division Created: September 26, 2007 Last Revised: May 16, 2008