Second quarter levels are benchmarked annually to U.S. Census Bureau, Annual Survey of Public Pensions (ASPP), State & Local Data, Table 1: National Summary of Public-Employee Retirement Systems: state and local government. Quarterly levels between ASPP Q2 benchmarks are linearly interpolated. Capital gains are computed using the change in the Merrill Lynch Municipal Master par weighted price. The unadjusted transactions are the change in the level, less capital gains, less any other changes in volume. Data for the most recent ten years show no significant seasonality.
Last edited on: 09/19/2017