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 June 30, 2008 Batting Average Returns are net of fees. Incept is March 31, 2008 to June 30, 2008 Batting Average Returns are net of fees. Incept is December 31, 1999 to September 30, 2003 Batting Average
Account Reconciliation Trailing Returns through June 30, 2008 Worst Qtr Account Reconciliation Trailing Returns through June 30, 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
6/30/2008 Return Beta 6/30/2008 Return Beta 9/30/2003 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
6,171 Universe R-Squared 4,905 Universe R-Squared 1,221 Universe R-Squared
-1 5th %-tile Sharpe Ratio 0 5th %-tile Sharpe Ratio 0 5th %-tile Sharpe Ratio
264 25th %-tile Treynor Ratio 269 25th %-tile Treynor Ratio 69 25th %-tile Treynor Ratio
6,434 50th %-tile Tracking Error 5,174 50th %-tile Tracking Error 1,290 50th %-tile Tracking Error
2008 75th %-tile Information Ratio 2008 75th %-tile Information Ratio 2003 75th %-tile Information Ratio
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund
6,665 2 Qtrs 2 0 2 Qtrs 0 1,150 2 Qtrs 1
0 -3.24 -0.0324 2 4,905 -3.32 1 0 22.98 3
-231 1 100 269 -7.11 100 140 89 25
6,434 -9.06 -0.0906 -7.2 5,174 -9.34 5.49 1,290 29.35 -8.78
3/31/2007 23 8.59 3/31/2008 -11.8 5.49 12/31/1999 54 16.43
Incept -6.73 15.79 Incept -16.35 0 Incept 46.02 25.21
  5,766 -9.23 4.82 4,905 3 Qtrs 22 1,823 37.33 21.3
-2 -10.81 14.74 0 -5.58 0.98 76 29.72 14.58
670 -12.82 0.94 269 -10.66 0.53 -609 26.15 1.01
6,434 6434000 -15.62 11.16 5,174 5,174,000 -13.71 1 1,290    1,290,000 21.22 -4.52
Investment Policy 3 Qtrs 0.84 Investment Policy -16.2 0.23 Investment Policy 3 Qtrs 0.97
Index -3.46 -0.0346 0.1 Index -22.07 5.19 Index 12.19 1.38
Russell 1000 Growth 1 1.6 S&P Midcap 400 1 Yr 0.36 MSCI EAFE 90 19.88
Total -9.75 -0.0975 6.04 Total -5.61 0.17 Total 18.84 2.63
Weight 31 1.78 Weight -11.02 S&P400 Weight 55 -2
100 -5.68 R1000G 100 -16.03 0 100 40.34 EAFE
100 -9.23 2 100 -19.74 1 100 27.72 1
Trailing Returns through June 30, 2008 -11.94 2 Trailing Returns through June 30, 2008 -24.23 0 Trailing Returns through September 30, 2003 19.83 3
Fund -14.27 0 Fund 2 Yr 5.43 Fund 15.37 75
R1000G -19.9 -10.18 S&P400 7.56 5.43 EAFE 10.53 -8.13
Diff 1 Yr 4.2 Diff 2.72 0 Diff 1 Yr 19.57
1 Yr 1 Yr FUND 4.82 0.0482 14.38 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1 Yr FUND -0.86 -0.0086 22.36 1 Yr 1 Yr FUND 21.3 0.213 27.7
1/4/1900 UNIVERSE 1 -5.96 3/31/2008 UNIVERSE -2.95 1 1/21/1900 UNIVERSE 79 26.55
-5.96 POLICY -5.96 -0.0596 14.27 Incept POLICY -6.06 -0.0606 0 26.55 POLICY 26.55 0.2655 14.13
10.78 42 1 5.49 3 Yr 1 -5.25 48 1
2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 2.3 0 5.43 10.9 0.22 2 Yr 51.17 0
3/31/2007 -3.94 1 1/0/1900 6.89 5.03 1/0/1900 34.61 1
Incept -6.88 -0.65 Fiscal Year Returns Ending September 3.84 0 3.55 26.12 1.79
9.19 -12.57 -9.28 Fund 2.33 Diff -3.11 21.8 25.33
0.39 -20.57 0 S&P400 -0.56 0 3 Yr 17.28 0
8.80 2 Yr Diff Diff 4 Yr 0 -9.8 2 Yr Diff
Incept ROR Fiscal Year Returns Ending September 9.68 0.0968 0   6/30/2008 10.83 0.1083 100 ############################### 0.44 0.0044 0
Fund Fund 5.8 0   Qtr 7.95 0.06 -1.42 84 0
Policy R1000G 3.83 0.0383 100   5.49 5.61 0.0561 0.06 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 3.55 0.0355 -50
Diff 1.72 2.98 1/5/1900 4.13 0 12/31/1999 62 -0.65
6/30/2008 -3.44 4.39 1/0/1900 1.53 -0.36 Incept 27.66 -3.14
Qtr 3 Yr 1.41 2008 5 Yr -0.02 -9.8 14.6 -2.49
4.27 9.68 10.78 YTD 2007 2006 2005 2004 2003 2002 2001 2000 1999 15.21 0.53 -9.79 5.01 -5.25
1/1/1900 6.55 0.47 Returns in Up Markets 12.38 0 -0.01 1.78 0.45
1/3/1900 5.36 -0.06 Fund 10.66 0.01 Calendar Year Returns -2.4 0.01
2008 3.76 11.16 S&P400 9.46 0.16 Fund 3 Yr -4.52
YTD 3 Yr FUND 0.3 0.003 -0.16 Ratio 3 Yr FUND 6.92 0.0692 0.36 EAFE 3 Yr FUND -9.8 -0.098 -0.03
############################### UNIVERSE 4 Yr 0.75 3/31/2008 UNIVERSE 6 Yr -0.24 Diff UNIVERSE 67 -0.41
############################### POLICY 8.6 0.086 10.88 Incept POLICY 12.91 0.1291 -3.74 9/30/2003 POLICY -8.38 -0.0838 -5.45
6.29 6.36 6.04 1/5/1900 10.72 5.05 Qtr 57 2.63
2007 2006 2005 2004 2003 2002 2001 2000 1999 5.3 Incept 5.4 8.8 3 Yr 5.62 8.62 5 Yr 2 Yr
Returns in Up Markets 3.52 # of Negative Qtrs 101.1 7.42 # of Negative Qtrs 8.18 -0.35 # of Negative Qtrs
Fund 0.73 # of Positive Qtrs Returns in Down Markets 4.92 # of Positive Qtrs -2.56 -7.16 # of Positive Qtrs
R1000G 5 Yr Batting Average Fund 7 Yr Batting Average 6/25/1905 -11.15 Batting Average
Ratio 10.48 Worst Qtr S&P400 11.32 Worst Qtr YTD -15.63 Worst Qtr
1 Yr 8.46 Best Qtr Ratio 8.68 Best Qtr 1/12/1900 4 Yr Best Qtr
1/13/1900 7.64 Range 3/31/2008 6.69 Range 18.84 9.62 Range
5.5 6.06 Worst 4 Qtrs Incept 4.7 Worst 4 Qtrs -6.65 2.03 Worst 4 Qtrs
240.1 3.23 Standard Deviation YTD 0 Standard Deviation 2002 -2.72 Standard Deviation
3/31/2007 6 Yr Beta ################################## 8 Yr Beta ############################### -6.02 Beta
Incept 9.16 Annualized Alpha 4.4 13.02 Annualized Alpha -15.65 -9.45 Annualized Alpha
20.6 6.9 R-Squared -4.5 9.61 R-Squared -1.38 5 Yr R-Squared
12.7 5 Yr FUND 5.93 Sharpe Ratio 6/25/1905 5 Yr FUND 7.19 Sharpe Ratio 2001 5 Yr FUND 18.09 Sharpe Ratio
161.4 NA 5.02 Treynor Ratio 32.91 NA 3.03 Treynor Ratio -19.79 NA 9.63 Treynor Ratio
Returns in Down Markets   3.51 Tracking Error 2/8/1900   -7.14 Tracking Error ###############################   4.27 Tracking Error
Fund 7 Yr Information Ratio -6.26 Fiscal Year Returns Ending September Information Ratio 1.42 0.45 Information Ratio
R1000G 4.43   Fund 2002 Fund   Fund 2000 -2.84   Fund Fund
Ratio 2.9 2 -13.61 Return 5 -9.02 6 Yr 3
1 Yr 1.59   3 -15.65 %-tile   7 -13.96 8.6   5
-7.4 0.61 80 2.04 S&P400 50 4.94 2.76 Batting Average 37.5
-10.9 -1.18 -7.2 2001 Return -17.58 1999 1998 1997 1996 1995 1994 -0.28 -20.7
3/8/1900 8 Yr 8.59 ################################## %-tile 17.98 Returns in Up Markets -2.26 16.43
3/31/2007 2.49 15.79 ################################## Universe 35.56 Fund -5.28 37.13
Incept 0.63 4.82 9.04 5th %-tile -23.16 EAFE 7 Yr -25.51
-7.4 -1 13.93 2000 25th %-tile 15.87 Ratio 10.45 Standard Deviation 16.96
############################### -3.14 0.92 -17.83 50th %-tile 0.9 1 Yr 5.19 Beta 1.01
68.3 -6.72 8.88 0.0888 -13.96 75th %-tile -0.21   33 2.28 Annualized Alpha -2.99 -0.0299
1/0/1900 Fiscal Year Returns Ending September 0.84 -3.87 95th %-tile 0.91 37.7 0.24 R-Squared 0.98
1999 1998 1997 1996 1995 Fund 0.4 1999 1998 1997 1996 1995 Qtr 0.08 87.4 -3.6 -0.07
Returns in Up Markets Return 6.01 Returns in Up Markets 5.49 0.0549 1.48 2 Yr 8 Yr -1.15
Fund %-tile 5.64 Fund 12 4.98 35.7 10.08 2.59
EAFE R1000G 1.56 EAFE 5.43 0.0543 -0.12 37 5.69 -1.2
Ratio Return R1000G Ratio 12 EAFE 96.5 3.12 Policy EAFE
2 Yr %-tile ####### 2 2 Yr 7.23 5 3 Yr 1.41 3
40.8 Universe 3 44.6 2.58 7 35.7 -2.29 5
51.7 5th %-tile ####### 20 51.7 0.63 50 37 Calendar Year Returns 62.5
78.9 25th %-tile -10.18 86.2 -1.79 -19.69 96.5 Fund -19.69
3 Yr 50th %-tile ####### 6.86 3 Yr -3.85 19.57 12/31/1999 Return 19.57
2/4/1900 75th %-tile 17.04 2/7/1900 YTD 39.26 Incept %-tile 39.26
40.4 95th %-tile ####### -5.96 40.4 -5.58 -22.95 35.7 EAFE -22.95
87.2 Qtr 13.94 94.6 -10.66 16.88 37 Return Standard Deviation 16.67
4 Yr 4.27 0.0427 1 4 Yr -13.71   1 96.5 %-tile   1
2/4/1900 11 0 38.3 -16.2 0 Returns in Down Markets Universe 0
40.4 1.25 0.0125 1 40.4 -22.07   1 Fund 5th %-tile   1
87.2 49 -0.23 94.6 2007 0.11 EAFE 25th %-tile 0.12
12/31/1999 6.06   -3.27 12/31/1999 29.81   1.91 Ratio 50th %-tile   1.95
Incept 2.54 0 Incept 20.77 0 1 Yr 75th %-tile 0
35.3 1.16   Diff 38.3 15.19   Diff -8.8 95th %-tile   Diff
40.4 -1.01 0 40.4 11.98 0 -8.1 Qtr 0
87.2 -4.29   0 94.6 8.13   0 108 QU. FUND 5.62 0.0562 0
Returns in Down Markets YTD 60 Returns in Down Markets 2006 0 2 Yr UNIVERSE 83 -25
Fund -3.46   2.98 Fund 14.58 2.11 -31.1 POLICY 8.18 0.0818 -1.01
EAFE 1 1.73 EAFE 10.38 -1.59 -27.6 58 -3.14
Ratio QU. FUND -9.75 -0.0975 -1.25 Ratio QU. FUND 7.72 0.0772 -3.7 112.6 18.61 -2.13
2 Yr UNIVERSE 31 10.78 2 Yr UNIVERSE 4.83 -0.21 3 Yr 12.99 -2.56
-30 POLICY -5.68 -0.0568 -0.01 ################################## POLICY 2.19 0.0219 -1.01 -32.6 8.87   0.29
-27.6 -9.23 -0.08 -27.6 2005 -0.1 -31.3 6.39 0.01
108.4 -11.94   8.88 104.1 26.4   -0.21 104.3 3.84   -2.99
3 Yr -14.27 -0.16 3 Yr 21.72 -0.09 12/31/1999 YTD -0.02
-32.7 -19.9   0.63 ################################## 19.25   -0.03 Incept 12.19   -0.19
-32 2007 9.28 -32 16.53 -0.43 -26.4 90 -3.1
102.2 25.53   5.64 98.2 11.14   4.98 -26.8 18.84   2.59
4 Yr 21.53   4 Yr 4 Yr 2004 4 Yr 98.7 55 3 Yr
-30.4 17.66   # of Negative Qtrs -29.9 28.92   # of Negative Qtrs 40.9 40.34   # of Negative Qtrs
-29.3 14.85 # of Positive Qtrs -29.3 22.49 # of Positive Qtrs 88.8 27.72 # of Positive Qtrs
103.8 9.52   Batting Average 102.3 19.1   Batting Average 7 Yr 19.83   Batting Average
12/31/1999 2006 Worst Qtr 12/31/1999 16.07 Worst Qtr 33.6 15.37 Worst Qtr
Incept 11.5   Best Qtr Incept 8.02   Best Qtr 37 10.53   Best Qtr
-26.3 8.66 Range -26.1 2003 Range 90.6 2002 Range
-26.8 6.23   Worst 4 Qtrs ################################## 48.25   Worst 4 Qtrs 9/30/1995 2002 FUND -17.03 -0.1703 Worst 4 Qtrs
98.1 4.5 Standard Deviation 97.4 34.58 Standard Deviation Incept UNIVERSE 69 Standard Deviation
1.3   Beta 30.01   Beta 32.2 POLICY -15.65 -0.1565 Beta
2005 Annualized Alpha 25.9 Annualized Alpha 34.9 60 Annualized Alpha
2002 FUND 25.77 0.2577 R-Squared 2002 FUND 19.17 0.1917 R-Squared 92.3 1.13 R-Squared
UNIVERSE 18.07 Sharpe Ratio UNIVERSE 2002 Sharpe Ratio Returns in Down Markets -8.2 Sharpe Ratio
POLICY 13.56 0.1356 Treynor Ratio POLICY 6.59 0.0659 Treynor Ratio Fund -14.26   Treynor Ratio
11.02 Tracking Error -1.82 Tracking Error Policy -17.82 Tracking Error
7.76   Information Ratio -7.42   Information Ratio Ratio -22.25   Information Ratio
2004   Fund -12.12 Fund 3 Yr 2001 Fund
15.25   9 -19.94   9 -29.4 2001 FUND -19.79 -0.1979 6
11.67   7 2001 7 -34.5 UNIVERSE 59 6
8.28     43.75 9.26   43.75 85 POLICY -21.21 -0.2121 50
6.32 -19.18 -2.9 -17.58 5 Yr 66 -20.7
2001 FUND 2.06 0.0206 17.19 2001 FUND -15.03 -0.1503 17.98 -26.5 3.58 16.43
UNIVERSE 2003 36.37 UNIVERSE -25.09 35.56 -31.3 -10.16 37.13
POLICY 30.61 0.3061 -27.32 POLICY -41.08 -0.4108 -28.02 84.6 -18.13   -27.24
23.77   17.03 2000 16.41 7 Yr -22.9 16.92
20.39     0.98 62.14   0.93 -26.5 -29.05   0.98
18.37   -2.46   39.49 -1.43   -31.3 2000 -1.69
14.19     0.89 30.15   0.88 84.6 2000 FUND -9.02 -0.0902 0.97
2002 -0.58   19.95 -0.52 -0.0052 9/30/1995 UNIVERSE 30 -0.74
-12.11   -10 9.11   -9.23 Incept POLICY -13.96 -0.1396 -12.79
-19.07 5.54 2001 5.88 -26.5 44 2.89
2000 FUND -21.45 -0.2145 -0.43 2000 FUND -12.17 -0.1217 -0.2 -31.3 2.88 -0.49
UNIVERSE -23.71   EAFE UNIVERSE 30 EAFE 84.6 -8.21 EAFE
POLICY -29.04 -0.2904 9 POLICY -21.21 -0.2121 9 -15.61 7
2001 7 66 7 -24.08 5
-29.08 56.25 3.58 56.25 -34 50
-35.09 -19.69 -10.16 -19.69 1999 -19.69
-38.5   19.57 -18.13   19.57 1999 FUND 116.89   19.57
-43.41 39.26 -22.9 39.26  NA 67.58 39.26
-51.41   -28.27 -29.05   -28.27   47.85   -28.27
2000   16.44 2000 16.44 28.32 17.01
1999 FUND 46.3 0.463 1 1999 FUND -17.83 -0.1783 1 16.51 1
 NA 27.14 0  NA 61 0 1998 0
  20.88 0.2088 1   -13.96 -0.1396 1 27.64 1
14.34 -0.45 44 -0.45 17.86 -0.65
8.45 -7.41 2.88 -7.41 11.79 -11.11
-8.21 0 -8.21 0 2.35 0
1998 FUND -15.61   Diff -15.61   Diff 1998 FUND -29.32   Diff
NA -24.08 0 -24.08 0 NA 1997 -1
  -34   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