Twenty Year Period Fiscal Years Ended 1998 - 2017 Employer Contributions $21.1 billion Member Contributions $3.0 billion Investment Income $120.4 billion Benefit Payments and Expenses $94.2 billion MV of assets – 6/30/1997: $ 65.2 MV of assets – 6/30/2017: $115.5

Breakdown of Income Sources Fiscal Years Ended 1998 - 2017

Funded Ratio 6/30/12 95.5% 89.8% 6/30/13 100.8% 87.5% 6/30/14 111.6% Based on MVA Based on AVA 6/30/12 95.5% 89.8% 6/30/13 100.8% 87.5% 6/30/14 111.6% 92.9% 6/30/15 104.1% 94.2% 6/30/16 98.4% 97.9% 6/30/17 99.8% 97.7% Market Value of Assets (MVA): the value of fund assets as they would trade on an open market on that date Actuarial Value of Assets (AVA): the value of assets as used in the actuarial valuation which reflects a 5-year smoothing of investment gains and losses

Great Recession Impact Market Value of Assets 9/30/2007 $106 B Market Value of Assets 06/30/2017 $115.5 B Market Value of Assets 3/31/2009 $68 B 5