US public pension profile
Boston Retirement System
Funding, investment choices and long-term returns.
Massachusetts ·Fiscal year 2025
Fiscal year 2025 at a glance
Asset allocation in 2025
Returns to 2025
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | Not reported | 38,707 | 70.30% | Not reported |
| 2002 | Not reported | 39,246 | 62.58% | Not reported |
| 2003 | USD 2.7 billion | 39,784 | 62.44% | Not reported |
| 2004 | USD 3.2 billion | 40,331 | 63.33% | Not reported |
| 2005 | USD 3.5 billion | 40,878 | 64.40% | 8.00% |
| 2006 | USD 3.8 billion | 41,403 | 66.50% | Not reported |
| 2007 | USD 4.3 billion | 41,927 | 67.58% | Not reported |
| 2008 | USD 4.6 billion | 41,757 | 59.27% | Not reported |
| 2009 | USD 3.4 billion | 41,586 | 60.23% | 8.00% |
| 2010 | USD 4.6 billion | 41,981 | 62.21% | Not reported |
| 2011 | USD 4.5 billion | 42,375 | 61.45% | 7.75% |
| 2012 | USD 4.9 billion | 42,892 | 61.87% | Not reported |
| 2013 | USD 5.5 billion | 43,409 | 59.46% | 7.75% |
| 2014 | USD 5.7 billion | 44,066 | Not reported | Not reported |
| 2015 | USD 5.6 billion | 44,723 | 61.58% | 7.75% |
| 2016 | USD 5.9 billion | 45,395 | Not reported | Not reported |
| 2017 | USD 6.8 billion | 46,066 | 62.88% | 7.50% |
| 2018 | USD 6.4 billion | 47,080 | Not reported | Not reported |
| 2019 | USD 7.4 billion | 48,093 | 63.24% | 7.05% |
| 2020 | USD 8.3 billion | 48,960 | Not reported | Not reported |
| 2021 | USD 9.5 billion | 49,827 | 68.91% | 6.90% |
| 2022 | USD 8.5 billion | 50,432 | Not reported | 6.90% |
| 2023 | USD 9.6 billion | 51,036 | 72.91% | 6.90% |
| 2024 | USD 10.5 billion | 54,406 | 76.11% | 6.90% |
| 2025 | Not reported | Not reported | Not reported | Not reported |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2002 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2003 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2004 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2005 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2006 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2007 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2008 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2009 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2010 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2011 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2012 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2013 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2014 | 49.46% | 24.62% | 6.43% | 8.85% | 8.82% | 0.78% |
| 2015 | 47.61% | 24.18% | 6.54% | 10.42% | 8.66% | 1.58% |
| 2016 | 49.98% | 23.63% | 6.69% | 10.09% | 8.08% | 0.41% |
| 2017 | 53.76% | 21.78% | 6.26% | 8.87% | 5.42% | 0.71% |
| 2018 | 47.88% | 24.14% | 7.43% | 9.64% | 3.84% | 1.28% |
| 2019 | 48.66% | 26.42% | 7.95% | 9.36% | 3.57% | 0.73% |
| 2020 | 47.50% | 26.41% | 9.21% | 9.14% | 4.02% | 0.44% |
| 2021 | 45.46% | 26.41% | 11.59% | 9.05% | 3.70% | 0.84% |
| 2022 | 41.33% | 26.14% | 13.41% | 11.78% | 4.04% | 0.30% |
| 2023 | 43.55% | 25.50% | 12.28% | 11.59% | 3.84% | 0.32% |
| 2024 | 49.35% | 25.57% | 11.19% | 8.29% | 5.00% | 0.60% |
| 2025 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | Not reported | Not reported | Not reported |
| 2002 | Not reported | Not reported | Not reported |
| 2003 | -9.40% | Not reported | Not reported |
| 2004 | 23.67% | Not reported | Not reported |
| 2005 | 11.95% | Not reported | Not reported |
| 2006 | 8.13% | Not reported | Not reported |
| 2007 | 14.03% | 9.11% | Not reported |
| 2008 | 9.96% | 13.42% | Not reported |
| 2009 | -25.04% | 2.61% | Not reported |
| 2010 | 13.50% | 2.90% | Not reported |
| 2011 | 0.90% | 1.48% | Not reported |
| 2012 | 12.80% | 1.26% | 5.12% |
| 2013 | 15.00% | 2.17% | 7.65% |
| 2014 | 5.72% | 9.45% | 5.98% |
| 2015 | 0.15% | 6.74% | 4.80% |
| 2016 | 7.15% | 8.03% | 4.71% |
| 2017 | 17.70% | 8.96% | 5.04% |
| 2018 | -4.30% | 5.03% | 3.59% |
| 2019 | 16.73% | 7.13% | 8.28% |
| 2020 | 12.43% | 9.64% | 8.18% |
| 2021 | 14.61% | 11.12% | 9.57% |
| 2022 | -10.20% | 5.27% | 7.10% |
| 2023 | 11.34% | 8.50% | 6.75% |
| 2024 | 8.93% | 6.70% | 6.70% |
| 2025 | Not reported | Not reported | Not reported |