SUNRISE POLICE
LOCK ALETHEIA     LOCK LOCK ALETHEIA UNIVERSE HERE LOCK LOCK ALETHEIA RISK HERE LOCK LOCK Mutual of America LOCK LOCK Mutual of America LOCK LOCK Mutual of America LOCK LOCK N/A LOCK LOCK N/A LOCK LOCK N/A LOCK
Sunrise Police Sunrise Police % Sunrise Police Sunrise Police Sunrise Police Sunrise Police % Sunrise Police Sunrise Police Sunrise Police %
Aletheia (Growth Equity + Cash) Aletheia (Growth Equity + Cash) Aletheia (Growth Equity + Cash) Mutual of America Mid-cap Equity (inception 4/1/2008) Mutual of America Mid-cap Equity (inception 4/1/2008) Mutual of America Mid-cap Equity (inception 4/1/2008) Putnam International Growth Fund Putnam International Growth Fund Putnam International Growth Fund
Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures
71 Broad Large Cap Growth Core 75 78 Broad Small Cap 82 82 International Equity 86
Inception date is March 31, 2007 73 1 Yr Inception date is March 31, 2008 80 Incept Inception date is December 31, 1999 84 1 Yr
All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs
Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs
Returns are net of fees. Incept is March 31, 2007 to December 31, 2008 Batting Average Returns are net of fees. Incept is March 31, 2008 to December 31, 2008 Batting Average Returns are net of fees. Incept is December 31, 1999 to September 30, 2003 Batting Average
Account Reconciliation Trailing Returns through December 31, 2008 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2008 Worst Qtr Account Reconciliation Trailing Returns through September 30, 2003 Worst Qtr
Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr
Net Flows Return Range Net Flows Return Range Net Flows Return Range
Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs
Ending Value R1000G Standard Deviation Ending Value S&P400 Standard Deviation Ending Value EAFE Standard Deviation
12/31/2008 Return Beta 12/31/2008 Return Beta 9/30/2003 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
5,184 Universe R-Squared 4,630 Universe R-Squared 1,221 Universe R-Squared
4 5th %-tile Sharpe Ratio -1 5th %-tile Sharpe Ratio 0 5th %-tile Sharpe Ratio
-1,571 25th %-tile Treynor Ratio -1,157 25th %-tile Treynor Ratio 69 25th %-tile Treynor Ratio
3,617 50th %-tile Tracking Error 3,472 50th %-tile Tracking Error 1,290 50th %-tile Tracking Error
2009 75th %-tile Information Ratio 2009 75th %-tile Information Ratio 2003 75th %-tile Information Ratio
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund
5,184 2 Qtrs 3 4,630 2 Qtrs 2 1,150 2 Qtrs 1
4 -43.83 -0.4383 1 -1 -32.87 -0.3287 1 0 22.98 3
-1,571 100 50 -1,157 74 100 140 89 25
3,617 -32.31 -0.3231 -30.3 3,472 -33.64 -0.3364 -24.99 1,290 29.35 -8.78
3/31/2007 50 4.27 3/31/2008 78 5.49 12/31/1999 54 16.43
Incept -29 34.57 Incept -18.31 30.48 Incept 46.02 25.21
  5,766 -30.76 -45.65 4,905 -24.78 30.42 1,823 37.33 21.3
2 -32.35 31.34 -2 -28.12 0.97 76 29.72 14.58
-2,150 -33.42 1.29 -1,431 -33.19 0.14 -609 26.15 1.01
3,617 3617000 -35.14 4.14 3,472 3,472,000 -38.75 1 1,290    1,290,000 21.22 -4.52
Investment Policy 3 Qtrs 0.86 Investment Policy 3 Qtrs -1 Investment Policy 3 Qtrs 0.97
Index -41.43 -0.4143 -1.51 Index -29.19 -0.2919 -31.21 Index 12.19 1.38
Russell 1000 Growth 100 -36.78 S&P Midcap 400 54 0.91 MSCI EAFE 90 19.88
Total -31.46 -0.3146 13.47 Total -30.04 -0.3004 0.93 Total 18.84 2.63
Weight 51 -0.54 Weight 62 S&P400 Weight 55 -2
100 -28.76 R1000G 100 -20.09 2 100 40.34 EAFE
100 -30.19 3 100 -25.29 1 100 27.72 1
Trailing Returns through December 31, 2008 -31.43 1 Trailing Returns through December 31, 2008 -28.87 0 Trailing Returns through September 30, 2003 19.83 3
Fund -33.16 50 Fund -31.98 -25.55 Fund 15.37 75
R1000G -36.17 -22.79 S&P400 -38.12 5.43 EAFE 10.53 -8.13
Diff 1 Yr 1.25 Diff 1 Yr 30.98 Diff 1 Yr 19.57
1 Yr 1 Yr FUND -45.65 -0.4565 24.04 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1 Yr FUND -26.99 -0.2699 31.26 1 Yr 1 Yr FUND 21.3 0.213 27.7
############################### UNIVERSE 100 -38.44 3/31/2008 UNIVERSE -31.54 1 1/21/1900 UNIVERSE 79 26.55
-38.44 POLICY -38.44 -0.3844 22.49 Incept POLICY -34.96 -0.3496 0 26.55 POLICY 26.55 0.2655 14.13
-7.21 41 1 -29.19 -40.4 1 -5.25 48 1
2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr -36.3 0 -30.04 -45.73 -1 2 Yr 51.17 0
3/31/2007 -37.69 1 1/0/1900 2 Yr -31.12 1/0/1900 34.61 1
Incept -39.6 -1.79 Fiscal Year Returns Ending September -12.74 0 3.55 26.12 1.79
-23.42 -40.89 -40.24 Fund -16.57 Diff -3.11 21.8 25.33
-19.76 -43.27 0 S&P400 -19.16 0 3 Yr 17.28 0
-3.66 2 Yr Diff Diff -21.51 0 -9.8 2 Yr Diff
Incept ROR Fiscal Year Returns Ending September -14 -0.14 0   12/31/2008 -27.07 -0.2707 100 ############################### 0.44 0.0044 0
Fund Fund -16.01 0   Qtr 3 Yr 0.56 -1.42 84 0
Policy R1000G -17.18 -0.1718 0   -24.99 -2.95 -0.0295 0.06 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 3.55 0.0355 -50
Diff -19.21 -7.51 ################################## -6.66 -0.5 12/31/1999 62 -0.65
12/31/2008 -23.1 3.02 1/0/1900 -9.06 -0.84 Incept 27.66 -3.14
Qtr 3 Yr 10.53 2009 -11.15 -0.03 -9.8 14.6 -2.49
-30.3 -7.23 -7.21 YTD -14.76 0.14 -9.79 5.01 -5.25
############################### -8.48 8.85 ################################## 4 Yr 0 -0.01 1.78 0.45
############################### -9.61 0.29 ################################## -0.16 0 Calendar Year Returns -2.4 0.01
2009 -11.32 4.14 0.56 -3.21 -0.09 Fund 3 Yr -4.52
YTD 3 Yr FUND -13.04 -0.1304 -0.14 2008 2007 2006 2005 2004 2003 2002 2001 2000 3 Yr FUND -5.23 -0.0523 0.91 EAFE 3 Yr FUND -9.8 -0.098 -0.03
############################### UNIVERSE 4 Yr 0.28 Returns in Up Markets UNIVERSE -6.85 -0.24 Diff UNIVERSE 67 -0.41
############################### POLICY -3.64 -0.0364 3.46 Fund POLICY -10.13 -0.1013 -3.74 9/30/2003 POLICY -8.38 -0.0838 -5.45
-7.51 -4.7 13.47 S&P400 5 Yr 5.05 Qtr 57 2.63
2008 -5.87 Incept Ratio 3.51 3 Yr 5.62 8.62 5 Yr 2 Yr
############################### -7.02 # of Negative Qtrs 3/31/2008 1.05 # of Negative Qtrs 8.18 -0.35 # of Negative Qtrs
############################### -8.72 # of Positive Qtrs Incept -0.7 # of Positive Qtrs -2.56 -7.16 # of Positive Qtrs
############################### 5 Yr Batting Average 1/5/1900 -2.49 Batting Average 6/25/1905 -11.15 Batting Average
2007 2006 2005 2004 2003 2002 2001 2000 -0.82 Worst Qtr 5.4 -5.69 Worst Qtr YTD -15.63 Worst Qtr
Returns in Up Markets -2.16 Best Qtr 4/10/1900 6 Yr Best Qtr 1/12/1900 4 Yr Best Qtr
Fund -3.19 Range Returns in Down Markets 9.19 Range 18.84 9.62 Range
R1000G -4.29 Worst 4 Qtrs Fund 6.93 Worst 4 Qtrs -6.65 2.03 Worst 4 Qtrs
Ratio -6.07 Standard Deviation S&P400 5.57 Standard Deviation 2002 -2.72 Standard Deviation
1 Yr 6 Yr Beta Ratio 4.06 Beta ############################### -6.02 Beta
1/4/1900 4.47 Annualized Alpha 3/31/2008 1.92 Annualized Alpha -15.65 -9.45 Annualized Alpha
1.2 2.33 R-Squared Incept 7 Yr R-Squared -1.38 5 Yr R-Squared
341.6 5 Yr FUND 1.38 Sharpe Ratio ################################## 5 Yr FUND 6.28 Sharpe Ratio 2001 5 Yr FUND 18.09 Sharpe Ratio
3/31/2007 NA 0.24 Treynor Ratio -33.6 NA 3.75 Treynor Ratio -19.79 NA 9.63 Treynor Ratio
Incept   -1.26 Tracking Error 4/6/1900   1.93 Tracking Error ###############################   4.27 Tracking Error
20.6 7 Yr Information Ratio -6.26 0.41 Information Ratio 1.42 0.45 Information Ratio
12.7 -0.12   Fund 2002 -2.02   Fund 2000 -2.84   Fund Fund
161.4 -2.18 4 -13.61 8 Yr 5 -9.02 6 Yr 3
Returns in Down Markets -2.9   3 -15.65 7.74   7 -13.96 8.6   5
Fund -3.92 57.14 2.04 5.63 50 4.94 2.76 Batting Average 37.5
R1000G -5.33 -30.3 2001 2.85 -17.58 1999 1998 1997 1996 1995 1994 -0.28 -20.7
Ratio 8 Yr 8.59 ################################## 0.91 17.98 Returns in Up Markets -2.26 16.43
1 Yr -2.5 38.89 ################################## -3.86 35.56 Fund -5.28 37.13
-47.9 -3.81 -45.65 9.04 Fiscal Year Returns Ending September -23.16 EAFE 7 Yr -25.51
-39.2 -4.95 27.07 2000 Fund 15.87 Ratio 10.45 Standard Deviation 16.96
5/1/1900 -5.93 1.27 -17.83 Return 0.9 1 Yr 5.19 Beta 1.01
3/31/2007 -7.79 2.74 0.0274 -13.96 %-tile -0.21   33 2.28 Annualized Alpha -2.99 -0.0299
Incept Fiscal Year Returns Ending September 0.88 -3.87 S&P400 0.91 37.7 0.24 R-Squared 0.98
-48 Fund -0.98 1999 1998 1997 1996 1995 Return 0.08 87.4 -3.6 -0.07
############################### Return -20.8 Returns in Up Markets %-tile #VALUE! 1.48 2 Yr 8 Yr -1.15
121 %-tile 10.8 Fund Universe 4.98 35.7 10.08 2.59
EAFE R1000G -0.34 EAFE 5th %-tile #VALUE! -0.12 37 5.69 -1.2
Ratio Return R1000G Ratio 25th %-tile EAFE 96.5 3.12 Policy EAFE
2 Yr %-tile ####### 4 2 Yr 50th %-tile #VALUE! 5 3 Yr 1.41 3
40.8 Universe 3 44.6 75th %-tile 7 35.7 -2.29 5
51.7 5th %-tile ####### 42.86 51.7 95th %-tile #VALUE! 50 37 Calendar Year Returns 62.5
78.9 25th %-tile -22.79 86.2 Qtr -19.69 96.5 Fund -19.69
3 Yr 50th %-tile ####### 6.86 3 Yr -24.99 -0.2499 19.57 12/31/1999 Return 19.57
2/4/1900 75th %-tile 29.65 2/7/1900 39 39.26 Incept %-tile 39.26
40.4 95th %-tile ####### -38.44 40.4 -25.55 -0.2555 -22.95 35.7 EAFE -22.95
87.2 Qtr 20.03 94.6 45 16.88 37 Return Standard Deviation 16.67
4 Yr -30.3 -0.303 1 4 Yr -20.17   1 96.5 %-tile   1
2/4/1900 100 0 38.3 -23.83 0 Returns in Down Markets Universe 0
40.4 -22.79 -0.2279 1 40.4 -26   1 Fund 5th %-tile   1
87.2 50 -1.14 94.6 -27.54 0.11 EAFE 25th %-tile 0.12
12/31/1999 -20.75   -22.76 12/31/1999 -34.04   1.91 Ratio 50th %-tile   1.95
Incept -21.75 0 Incept YTD 0 1 Yr 75th %-tile 0
35.3 -22.82   Diff 38.3 -24.99   Diff -8.8 95th %-tile   Diff
40.4 -23.88 0 40.4 39 0 -8.1 Qtr 0
87.2 -25.58   0 94.6 -25.55   0 108 QU. FUND 5.62 0.0562 0
Returns in Down Markets YTD 14.28 Returns in Down Markets 45 0 2 Yr UNIVERSE 83 -25
Fund -30.3   -7.51 Fund -20.17 2.11 -31.1 POLICY 8.18 0.0818 -1.01
EAFE 100 1.73 EAFE -23.83 -1.59 -27.6 58 -3.14
Ratio QU. FUND -22.79 -0.2279 9.24 Ratio QU. FUND -26 -0.26 -3.7 112.6 18.61 -2.13
2 Yr UNIVERSE 50 -7.21 2 Yr UNIVERSE -27.54 -0.21 3 Yr 12.99 -2.56
-30 POLICY -20.75 -0.2075 7.04 ################################## POLICY -34.04 -0.3404 -1.01 -32.6 8.87   0.29
-27.6 -21.75 0.27 -27.6 2008 -0.1 -31.3 6.39 0.01
108.4 -22.82   2.74 104.1 -9.16   -0.21 104.3 3.84   -2.99
3 Yr -23.88 -0.12 3 Yr -14.29 -0.09 12/31/1999 YTD -0.02
-32.7 -25.58   0.16 ################################## -17.49   -0.03 Incept 12.19   -0.19
-32 2008 1.96 -32 -21.37 -0.43 -26.4 90 -3.1
102.2 -22.21   10.8 98.2 -27.08   4.98 -26.8 18.84   2.59
4 Yr 52   4 Yr 4 Yr 2007 4 Yr 98.7 55 3 Yr
-30.4 -20.88   # of Negative Qtrs -29.9 29.81   # of Negative Qtrs 40.9 40.34   # of Negative Qtrs
-29.3 32 # of Positive Qtrs -29.3 20.77 # of Positive Qtrs 88.8 27.72 # of Positive Qtrs
103.8 -17.31   Batting Average 102.3 15.19   Batting Average 7 Yr 19.83   Batting Average
12/31/1999 -20.37 Worst Qtr 12/31/1999 11.98 Worst Qtr 33.6 15.37 Worst Qtr
Incept -21.96   Best Qtr Incept 8.13   Best Qtr 37 10.53   Best Qtr
-26.3 -25.07 Range -26.1 2006 Range 90.6 2002 Range
-26.8 -30.1   Worst 4 Qtrs ################################## 14.58   Worst 4 Qtrs 9/30/1995 2002 FUND -17.03 -0.1703 Worst 4 Qtrs
98.1 2007 Standard Deviation 97.4 10.38 Standard Deviation Incept UNIVERSE 69 Standard Deviation
25.53   Beta 7.72   Beta 32.2 POLICY -15.65 -0.1565 Beta
21.53 Annualized Alpha 4.83 Annualized Alpha 34.9 60 Annualized Alpha
2002 FUND 17.66 0.1766 R-Squared 2002 FUND 2.19 0.0219 R-Squared 92.3 1.13 R-Squared
UNIVERSE 14.85 Sharpe Ratio UNIVERSE 2005 Sharpe Ratio Returns in Down Markets -8.2 Sharpe Ratio
POLICY 9.52 0.0952 Treynor Ratio POLICY 26.4 0.264 Treynor Ratio Fund -14.26   Treynor Ratio
2006 Tracking Error 21.72 Tracking Error Policy -17.82 Tracking Error
11.5   Information Ratio 19.25   Information Ratio Ratio -22.25   Information Ratio
8.66   Fund 16.53 Fund 3 Yr 2001 Fund
6.23   9 11.14   9 -29.4 2001 FUND -19.79 -0.1979 6
4.5   7 2004 7 -34.5 UNIVERSE 59 6
1.3     43.75 28.92   43.75 85 POLICY -21.21 -0.2121 50
2005 -19.18 22.49 -17.58 5 Yr 66 -20.7
2001 FUND 25.77 0.2577 17.19 2001 FUND 19.1 0.191 17.98 -26.5 3.58 16.43
UNIVERSE 18.07 36.37 UNIVERSE 16.07 35.56 -31.3 -10.16 37.13
POLICY 13.56 0.1356 -27.32 POLICY 8.02 0.0802 -28.02 84.6 -18.13   -27.24
11.02   17.03 2003 16.41 7 Yr -22.9 16.92
7.76     0.98 48.25   0.93 -26.5 -29.05   0.98
2004   -2.46   34.58 -1.43   -31.3 2000 -1.69
15.25     0.89 30.01   0.88 84.6 2000 FUND -9.02 -0.0902 0.97
11.67 -0.58   25.9 -0.52 -0.0052 9/30/1995 UNIVERSE 30 -0.74
8.28   -10 19.17   -9.23 Incept POLICY -13.96 -0.1396 -12.79
6.32 5.54 2002 5.88 -26.5 44 2.89
2000 FUND 2.06 0.0206 -0.43 2000 FUND 6.59 0.0659 -0.2 -31.3 2.88 -0.49
UNIVERSE 2003   EAFE UNIVERSE -1.82 EAFE 84.6 -8.21 EAFE
POLICY 30.61 0.3061 9 POLICY -7.42 -0.0742 9 -15.61 7
23.77 7 -12.12 7 -24.08 5
20.39 56.25 -19.94 56.25 -34 50
18.37 -19.69 2001 -19.69 1999 -19.69
14.19   19.57 9.26   19.57 1999 FUND 116.89   19.57
2002 39.26 -2.9 39.26  NA 67.58 39.26
-12.11   -28.27 -15.03   -28.27   47.85   -28.27
-19.07   16.44 -25.09 16.44 28.32 17.01
1999 FUND -21.45 -0.2145 1 1999 FUND -41.08 -0.4108 1 16.51 1
 NA -23.71 0  NA 61 0 1998 0
  -29.04 -0.2904 1   -13.96 -0.1396 1 27.64 1
2001 -0.45 44 -0.45 17.86 -0.65
-29.08 -7.41 2.88 -7.41 11.79 -11.11
-35.09 0 -8.21 0 2.35 0
1998 FUND -38.5   Diff -15.61   Diff 1998 FUND -29.32   Diff
NA -43.41 0 -24.08 0 NA 1997 -1
  -51.41   0 -34   0   22.94   1
1999 -12.5 1999 -12.5 11.7 0
116.89 0.51 1998 FUND 116.89 2.11 5.22 -1.01
67.58 -2.38 NA 67.58 -1.59 -2.28 -3.14
47.85 -2.89   47.85 -3.7 -30.46 -2.13
28.32 0.95 28.32 0.25 1996 1.03
16.51 0.59 16.51 -0.03 28.9 -0.09
1998 -0.02 1998 -0.07 20.05 -0.02
27.64   -2.46 27.64   -1.43 14.65   -1.69
17.86 -0.11 17.86 -0.12 9.94 -0.03
11.79   -0.13 11.79   -0.07 0.97   -0.09
2.35 -2.59 2.35 -1.82 1995 -1.68
-29.32 5.54 -29.32 5.88 21.87 2.89
1997 Incept Incept 1997 Incept Incept 13.07 Incept
22.94 # of Negative Qtrs 22.94 # of Negative Qtrs 9.83 # of Negative Qtrs
11.7 # of Positive Qtrs 11.7 # of Positive Qtrs 3.73 # of Positive Qtrs
5.22 Batting Average 5.22 Batting Average -8.25 Batting Average
-2.28 Worst Qtr -2.28 Worst Qtr 19 Worst Qtr
-30.46   Best Qtr -30.46   Best Qtr 35.39   Best Qtr
1996 Range 1996 Range 28.17 Range
28.9   Worst 4 Qtrs 28.9   Worst 4 Qtrs 23.31   Worst 4 Qtrs
20.05 Standard Deviation 20.05 Standard Deviation 14.65 Standard Deviation
14.65 Beta 14.65 Beta 6.14 Beta
9.94 Annualized Alpha 9.94 Annualized Alpha 1997 Annualized Alpha
0.97 R-Squared 0.97 R-Squared 32.62 R-Squared
Sharpe Ratio Sharpe Ratio 23 Sharpe Ratio
Treynor Ratio Treynor Ratio 33.36 Treynor Ratio
Tracking Error Tracking Error 14 Tracking Error
Information Ratio Information Ratio 35.83 Information Ratio
Fund Fund Fund Fund 32.4 Fund
9 9 29.2 8
8 8 26.22 7
Batting Average 47.06 Batting Average 47.06 19.15 46.67
-19.18 -17.58 1996 -20.7
17.19 17.98 22.92 16.43
36.37 35.56 27 37.13
-27.32 -28.02 22.96 -27.24
Standard Deviation 16.91 Standard Deviation 16.23 26 18.18
Beta 0.96 Beta 0.92 27.28 1.04
Annualized Alpha -1.15 -0.0115 Annualized Alpha -0.37 23.01 0.61
R-Squared 0.87 R-Squared 0.86 21.51 0.87
-0.5 -0.46 18.9 -0.72
-8.74 -8.04 15.28 -12.63
6.05 6.27 1995 6.46
-0.18 -0.01 38.57 0
Policy EAFE Policy EAFE 36.55 EAFE
10 10 33.47 10
7 7 30.16 5
52.94 52.94 24.43 53.33
-19.69 -19.69 -19.69
19.57 19.57 19.57
39.26 39.26 39.26
-28.27 -28.27 -28.27
Standard Deviation 16.41 Standard Deviation 16.41 16.41
1 1 1
0 0 0
1 1 1
-0.45 -0.45 -0.8
-7.32 -7.32 -13.13
0 0 0
Diff Diff Diff
-1 -1 -2
1 1 2
-5.88 -5.88 -6.66
0.51 2.11 -1.01
-2.38 -1.59 -3.14
-2.89 -3.7 -2.13
0.95 0.25 1.03
0.5 -0.18 1.77
-0.04 -0.08 0.04
-1.15 -0.37 0.61
-0.13 -0.14 -0.13
-0.05 -0.01 0.08
-1.42 -0.72 0.5
6.05 6.27 6.46