STATISTICAL SECTION

Ten Year History of Membership
Fiscal Year Ended September 30

350 300 250 268,208

Thousands

200 150 100 50 0 2000 2001 2002 2003 2004 2005 2006 2007 2008

171,922

2009

ACTIVE

RETIRED

Source: Gabriel Roeder Smith & Co.

The demographics of this chart clearly demonstrate why the fund dynamics will continue to do worse and worse, requiring more and more funding to be diverted away from current school funding. The money from this system comes from the operating funds at each school district. As employer contributions increase to fund the growing liabilities, there will be less money available for teachers and programs.

MICHIGAN PUBLIC SCHOOL EMPLOYEES’ RETIREMENT SYSTEM • 109

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