1. Total fund1 Public Safety Personnel Retirement System Corrections Officer Retirement Plan Elected Officials’ Retirement Plan Fiscal Year End Report as of June 30, 2009

2. Total fund 2 Total Plan Statistics Defined Benefit Plan Active Members 35,304 Terminated Vested Members 2,740 Drop 1,044 Retired 12,105 Normal9,105 Beneficiaries1,681 Disability1,319 Total Participants 51,193

3. Total fund 3 Total Revenue June 30, 2009 Total Net Loss ($595,929,593)

4. Total fund 4 Total Expenses June 30, 2009 Total Expenses $578,609,862

5. Total fund 5 Net Cash Flow FYE June 30 (thousands) EE-ER Contributions – Benefits Payments and Expenses Footnote: Transfer of 2,200 probation, surveillance and juvenile detention officers into CORP on July 1, 2007 increased cash flow for FYE 2008. Additionally, there was a decrease in retirements from the DROP program.

6. Total fund 6 Asset Allocation June 30, 2009 at Market

7. Total fund 7 Total Fund – Returns by Asset Class (Fiscal Year 2008-09)

8. Total Fund Rates of Return (Estimated)

9. Total fund 9 Annual Index Returns (Fiscal Year 2008-09) *Return is based on 3 month smoothing of NCREIF’s quarterly data.

10. Total fund 10 Investment Portfolio Returns June 30, 2009 1 Year3 Year5 Year10 Year Total Fund*-17.45%-3.57%1.17%0.30% PSPRS-17.45%-3.56%1.17%0.30% CORP-17.72%-3.68%1.10%0.30% EORP-17.47%-3.70%1.09%0.30% Benchmark**-21.13%-5.05%-1.18%0.84% ASRS-18.1%-3.8%1.2%1.9% COPERS-20.43%-4.20.85%2.26% * Returns shown are gross of fees; ** Benchmark 7/1/2008-3/31/2009: 46% Wilshire 5000, 21% MSCI World Ex-US, 20% Lehman Gov/Credit, 6% NCREIF NPI, 6% Wilshire 5000 + 300 bps, 1% 91-Day Treasury Bill; Benchmark 3/31/09-6/30/2009 30% Russell 3000, 20% MSCI World Ex-US, 20% BC Capital Aggregate, 8% NCREIF MPI, 8% Russell 3000+100 bps, 8% ML US High Yield BB-B Rated Constrained, 5% CPI+200 bps and 1% 91-day T-Bill.

11. Total fund 11 Total Fund Performance 1-Year3-Years5-Years Total Fund Rank* -17.45% 58 -3.57% 76 1.17% 88 Performance Benchmark Rank* -21.13% 83 5.05% 96 -1.18% 100 Median Public Fund* -16.6%-2.3%2.4% The Total Fund returned -17.45% over the Fiscal Year ending June 30 Performance was above the benchmark over the fiscal year and while falling shy of the median public fund return The Total Fund Universe is comprised of Public Funds from the ICC Public Fund Universe and includes over 100 Public Funds over the five full years Rank shows how the performance of the Total Fund and Benchmark compared relative to other Public Funds As of June 30, 2009

12. Index/Actual Total Returns FY 2008-09

13. 13 Total Fund vs. Benchmark FYE June 30 *Total Fund returns are gross of fees ** Benchmark 7/1/2008-3/31/2009: 46% Wilshire 5000, 21% MSCI World Ex-US, 20% Lehman Gov/Credit, 6% NCREIF NPI, 6% Wilshire 5000 + 300 bps, 1% 91-Day Treasury Bill; Benchmark 3/31/09-6/30/2009 30% Russell 3000, 20% MSCI World Ex-US, 20% BC Capita Aggregate, 8% NCREIF MPI, 8% Russell 3000+100 bps, 8% ML US High Yield BB-B Rated Constrained, 5% CPI+200 bps and 1% 91-day T-Bill.

14. Total fund 14 Funding Levels

15. Total fund 15 PSPRS – Aggregate Employer Rates *The aggregate computed contribution rates before application of the statutory minimum

16. Total fund 16 CORP – Aggregate Employer Rates

17. Total fund 17 EORP – Employer Rates

18. Total fund 18 *Market value does not include future benefit increase reserve Total Fund Changing Financial Status (in 000s)

19. Total fund 19 PSPRS Changing Financial Status (in 000s) *Market value does not include future benefit increase reserve

20. Total fund 20 CORP Changing Financial Status (in 000s) *Market value does not include future benefit increase reserve

21. Total fund 21 EORP Changing Financial Status (in 000s) *Market value does not include future benefit increase reserve

22. Total fund 22 Implications for the Future Employer Rates Post Retirement Benefit Increase Reserves (after cost of July 1, 2009 post retirement adjustment)  PSPRS:$285,613,717 (July 1 adjustment = $125.7M)  CORP: $15,124,946 (July 1 adjustment = $18.1M)  EORP: $3,637,670 (July 1 adjustment = $11.3M)  7-1-10 Future Increase Amount is contingent upon assets flowing into account.

23. Total fund 23 Post-Retirement Adjustment Reserve Balances PSPRS ReserveCORP ReserveEORP Reserve Cost of 7/1/07 increase $101.77 Million Reserve Balance $662.93 Million Cost of 7/1/07 increase $13.57 Million Reserve Balance $60.43 Million Cost of 7/1/07 increase $9.39 Million Reserve Balance 30.83 Million Cost of 7/1/08 increase $114.77 Million Reserve Balance $499.95 Million Cost of 7/1/08 increase $15.53 Million Reserve Balance $40.63 Million Cost of 7/1/08 increase $10.30 Million Reserve Balance $18.18 Million Cost of 7/1/09 increase $125.7 Million Reserve Balance $285.6 Million Cost of 7/1/09 increase $18.1 Million Reserve Balance $15.1 Million Cost of 7/1/09 increase $11.3 Million Reserve Balance $3.6 Million

24. Total fund 24 Asset Allocation Asset ClassOld %New %Range % U.S. Equity38%30%20-40% Non-U.S. Equity21%20%13-27% Fixed Income Global20% 15-25% Short Term Equivalents1% 0 – 5% Real Assets0%5%0 - 10% Real Estate global6%8%4-12% Private Equity global6%8%3-12% Credit Opportunities8% 0-12%

25. Total fund 25 Employer Contribution Rates

26. Total fund 26 Impact of Assumption Changes

27. Total fund 27 Investment Expense FYE June 30 (% of Assets) *“Comparison of costs to the universe must be interpreted with extreme caution given the breadth of the universe which encompasses funds with widely varying size and asset mix. Your benchmark cost calculation, is a much more valuable indicator as to whether you are a low or high cost producer since it adjusts for differences in fund size and asset mix.” Cost Effectiveness Measurement Inc, 2006 pg 12