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A Report on the Audit of the Employees Retirement System's Fiscal Year 2007 Financial Statements

February 2008

Report Number 08-021

Overall Conclusion

In our audit report dated December 18, 2007, we concluded that the Employees Retirement System's (System) basic financial statements for fiscal year 2007 were materially correct and presented in accordance with accounting principles generally accepted in the United States of America.

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