US public pension profile· Alabama ERS
Employees’ Retirement System of Alabama
Funding, investment choices and long-term returns.
Alabama ·Fiscal year 2025
Alabama ERS: fiscal year 2025 at a glance
- Market value of assets
- USD 17.9 billion
- Total membership
- 212,807
- Funded ratio
- 65.87%
- Assumed investment return
- 7.45%
Asset allocation in 2025
| Public equity | 69.25% |
|---|---|
| Fixed income | 22.51% |
| Private equity | 0.00% |
| Real estate | 8.24% |
| Hedge funds | 0.00% |
| Cash | 0.00% |
Returns to 2025
| One year | 10.40% |
|---|---|
| Five years | 9.93% |
| Ten years | 9.03% |
Alabama ERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 7.2 billion | 115,040 | 100.20% | 8.00% |
| 2002 | USD 6.4 billion | 118,858 | 95.40% | 8.00% |
| 2003 | USD 7.2 billion | 121,563 | 91.10% | 8.00% |
| 2004 | USD 7.8 billion | 122,194 | 89.70% | 8.00% |
| 2005 | USD 8.5 billion | 126,055 | 84.00% | 8.00% |
| 2006 | USD 9.0 billion | 129,396 | 81.10% | 8.00% |
| 2007 | USD 10.4 billion | 133,346 | 79.00% | 8.00% |
| 2008 | USD 8.6 billion | 136,530 | 75.70% | 8.00% |
| 2009 | USD 7.7 billion | 138,175 | 72.20% | 8.00% |
| 2010 | USD 8.2 billion | 138,621 | 68.20% | 8.00% |
| 2011 | USD 8.1 billion | 137,887 | 65.80% | 8.00% |
| 2012 | USD 9.2 billion | 137,820 | 65.70% | 8.00% |
| 2013 | USD 10.1 billion | 137,801 | 65.70% | 8.00% |
| 2014 | USD 10.9 billion | 157,760 | 66.95% | 8.00% |
| 2015 | USD 10.6 billion | 160,135 | 67.35% | 8.00% |
| 2016 | USD 11.2 billion | 163,190 | 66.25% | 7.88% |
| 2017 | USD 12.1 billion | 166,467 | 67.77% | 7.75% |
| 2018 | USD 12.7 billion | 170,399 | 68.65% | 7.70% |
| 2019 | USD 12.6 billion | 172,579 | 68.20% | 7.70% |
| 2020 | USD 13.2 billion | 181,701 | 68.18% | 7.70% |
| 2021 | USD 15.5 billion | 186,316 | 67.71% | 7.45% |
| 2022 | USD 13.0 billion | 194,026 | 65.64% | 7.45% |
| 2023 | USD 14.1 billion | 200,384 | 63.40% | 7.45% |
| 2024 | USD 16.6 billion | 207,287 | 63.68% | 7.45% |
| 2025 | USD 17.9 billion | 212,807 | 65.87% | 7.45% |
Alabama ERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 46.53% | 53.47% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2002 | 46.49% | 53.51% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2003 | 54.79% | 45.21% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2004 | 57.86% | 42.14% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2005 | 58.72% | 41.28% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2006 | 63.51% | 36.49% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2007 | 64.89% | 35.11% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2008 | 60.75% | 39.25% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2009 | 58.67% | 41.33% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2010 | 58.64% | 41.36% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2011 | 56.00% | 44.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2012 | 59.10% | 40.90% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2013 | 63.81% | 36.19% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2014 | 65.06% | 34.94% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2015 | 63.22% | 36.78% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2016 | 64.39% | 35.61% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2017 | 70.72% | 29.28% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2018 | 70.49% | 29.51% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2019 | 68.40% | 31.60% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2020 | 68.83% | 31.17% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2021 | 72.73% | 27.27% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2022 | 69.73% | 30.27% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2023 | 66.22% | 33.78% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2024 | 67.68% | 23.58% | 0.00% | 8.74% | 0.00% | 0.00% |
| 2025 | 69.25% | 22.51% | 0.00% | 8.24% | 0.00% | 0.00% |
Alabama ERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -6.36% | 8.07% | Not reported |
| 2002 | -9.29% | 2.88% | Not reported |
| 2003 | 16.48% | 4.12% | 7.55% |
| 2004 | 10.06% | 3.77% | 8.51% |
| 2005 | 10.98% | 4.01% | 7.78% |
| 2006 | 8.37% | 7.10% | 7.58% |
| 2007 | 17.92% | 12.86% | 7.27% |
| 2008 | -15.21% | 5.76% | 5.02% |
| 2009 | -10.03% | 1.59% | 2.67% |
| 2010 | 8.47% | 1.12% | 2.56% |
| 2011 | 2.21% | -0.06% | 3.46% |
| 2012 | 18.01% | -0.04% | 6.22% |
| 2013 | 14.60% | 6.17% | 5.97% |
| 2014 | 12.02% | 10.93% | 6.15% |
| 2015 | 1.05% | 9.37% | 5.16% |
| 2016 | 10.22% | 11.03% | 5.34% |
| 2017 | 12.86% | 10.04% | 4.88% |
| 2018 | 9.29% | 9.00% | 7.58% |
| 2019 | 2.78% | 7.14% | 9.02% |
| 2020 | 5.83% | 8.14% | 8.75% |
| 2021 | 22.18% | 10.39% | 10.71% |
| 2022 | -13.02% | 4.79% | 7.38% |
| 2023 | 12.89% | 5.47% | 7.22% |
| 2024 | 21.21% | 9.00% | 8.07% |
| 2025 | 10.40% | 9.93% | 9.03% |