US public pension profile
Arizona State Corrections Officers Retirement Plan
Funding, investment choices and long-term returns.
Arizona ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 4.1 billion
- Total membership
- 18,233
- Funded ratio
- 90.16%
- Assumed investment return
- 7.20%
Asset allocation in 2025
| Public equity | 39.76% |
|---|---|
| Fixed income | 8.90% |
| Private equity | 23.58% |
| Real estate | 0.00% |
| Hedge funds | 23.11% |
| Cash | 3.28% |
Returns to 2025
| One year | 11.14% |
|---|---|
| Five years | 10.50% |
| Ten years | 7.66% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 0.7 billion | 13,089 | 140.00% | 9.00% |
| 2002 | USD 0.6 billion | 12,761 | 123.80% | 9.00% |
| 2003 | USD 0.6 billion | 12,824 | 114.40% | 9.00% |
| 2004 | USD 0.7 billion | 13,761 | 104.80% | 8.75% |
| 2005 | USD 0.8 billion | 14,359 | 96.40% | 8.50% |
| 2006 | USD 0.9 billion | 15,031 | 93.70% | 8.50% |
| 2007 | USD 1.0 billion | 16,200 | 88.50% | 8.50% |
| 2008 | USD 1.1 billion | 19,025 | 90.30% | 8.50% |
| 2009 | USD 1.0 billion | 18,647 | 86.40% | 8.50% |
| 2010 | USD 1.1 billion | 18,828 | 83.80% | 8.50% |
| 2011 | USD 1.3 billion | 19,121 | 76.60% | 8.25% |
| 2012 | USD 1.3 billion | 19,568 | 70.70% | 8.00% |
| 2013 | USD 1.4 billion | 20,264 | 66.90% | 7.85% |
| 2014 | USD 1.2 billion | 20,372 | 57.30% | 7.85% |
| 2015 | USD 1.2 billion | 20,912 | 57.35% | 7.85% |
| 2016 | USD 1.2 billion | 21,423 | 57.27% | 7.50% |
| 2017 | USD 1.4 billion | 21,991 | 49.54% | 7.40% |
| 2018 | USD 1.4 billion | 22,731 | 54.11% | 7.40% |
| 2019 | USD 1.5 billion | 21,473 | 53.12% | 7.30% |
| 2020 | USD 1.6 billion | 20,589 | 52.15% | 7.30% |
| 2021 | USD 2.6 billion | 20,006 | 68.16% | 7.30% |
| 2022 | USD 3.1 billion | 19,269 | 83.30% | 7.20% |
| 2023 | USD 3.4 billion | 18,785 | 84.33% | 7.20% |
| 2024 | USD 3.8 billion | 18,491 | 87.16% | 7.20% |
| 2025 | USD 4.1 billion | 18,233 | 90.16% | 7.20% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 67.00% | 26.80% | 2.50% | 0.00% | 0.00% | 0.00% |
| 2002 | 58.60% | 32.00% | 5.10% | 0.00% | 0.00% | 0.00% |
| 2003 | 59.40% | 27.40% | 6.60% | 0.00% | 0.00% | 0.00% |
| 2004 | 71.10% | 18.00% | 4.70% | 0.00% | 0.00% | 0.00% |
| 2005 | 69.57% | 20.62% | 5.61% | 0.00% | 0.00% | 0.00% |
| 2006 | 69.19% | 21.36% | 0.61% | 2.71% | 0.00% | 4.85% |
| 2007 | 69.33% | 20.11% | 1.13% | 2.12% | 0.00% | 4.57% |
| 2008 | 65.97% | 24.79% | 1.41% | 3.65% | 0.00% | 4.18% |
| 2009 | 54.86% | 31.95% | 2.72% | 9.03% | 0.00% | 1.44% |
| 2010 | 41.16% | 19.05% | 7.91% | 9.90% | 16.58% | 1.08% |
| 2011 | 35.36% | 18.56% | 7.94% | 10.63% | 20.52% | 1.60% |
| 2012 | 33.36% | 13.79% | 10.19% | 12.71% | 21.51% | 2.20% |
| 2013 | 32.30% | 11.09% | 11.31% | 13.23% | 23.91% | 1.77% |
| 2014 | 30.46% | 9.45% | 13.31% | 10.75% | 25.30% | 3.89% |
| 2015 | 29.91% | 7.60% | 14.38% | 9.93% | 26.34% | 3.85% |
| 2016 | 29.80% | 5.97% | 15.02% | 9.66% | 27.67% | 2.25% |
| 2017 | 30.44% | 5.45% | 13.88% | 9.36% | 28.90% | 1.87% |
| 2018 | 30.03% | 5.84% | 13.32% | 8.44% | 30.56% | 3.95% |
| 2019 | 33.58% | 5.78% | 13.10% | 7.55% | 28.33% | 3.23% |
| 2020 | 38.97% | 1.20% | 26.95% | 0.00% | 26.76% | 2.91% |
| 2021 | 35.56% | 3.97% | 25.55% | 0.00% | 20.59% | 10.45% |
| 2022 | 33.37% | 3.23% | 23.72% | 0.00% | 20.40% | 15.72% |
| 2023 | 38.43% | 6.90% | 23.07% | 0.00% | 21.34% | 6.79% |
| 2024 | 38.32% | 9.46% | 23.00% | 0.00% | 19.18% | 6.86% |
| 2025 | 39.76% | 8.90% | 23.58% | 0.00% | 23.11% | 3.28% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -17.07% | 10.52% | 10.78% |
| 2002 | -14.73% | 2.76% | 7.45% |
| 2003 | 6.15% | -0.01% | 7.18% |
| 2004 | 14.77% | -0.50% | 8.75% |
| 2005 | 9.23% | -1.21% | 7.99% |
| 2006 | 8.17% | 4.17% | 7.29% |
| 2007 | 16.77% | 10.93% | 6.75% |
| 2008 | -7.05% | 8.04% | 3.94% |
| 2009 | -17.99% | 1.02% | 0.26% |
| 2010 | 13.47% | 1.79% | 0.28% |
| 2011 | 17.37% | 3.46% | 3.81% |
| 2012 | -0.79% | 0.14% | 5.40% |
| 2013 | 10.64% | 3.75% | 5.84% |
| 2014 | 13.28% | 10.68% | 5.77% |
| 2015 | 3.68% | 8.69% | 5.22% |
| 2016 | 0.63% | 5.40% | 4.45% |
| 2017 | 11.85% | 7.95% | 3.98% |
| 2018 | 7.07% | 7.18% | 5.48% |
| 2019 | 5.45% | 5.67% | 8.14% |
| 2020 | 0.91% | 5.10% | 6.88% |
| 2021 | 27.76% | 10.27% | 7.81% |
| 2022 | -4.04% | 6.94% | 7.45% |
| 2023 | 7.64% | 7.21% | 7.19% |
| 2024 | 10.34% | 8.19% | 6.92% |
| 2025 | 11.14% | 10.50% | 7.66% |