US public pension profile
Connecticut State Employees Retirement System
Funding, investment choices and long-term returns.
Connecticut ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 26.8 billion
- Total membership
- 110,797
- Funded ratio
- 59.59%
- Assumed investment return
- 6.90%
Asset allocation in 2025
Returns to 2025
| One year | 10.12% |
|---|---|
| Five years | 8.99% |
| Ten years | 7.39% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 7.8 billion | 88,512 | 63.10% | 8.50% |
| 2002 | USD 7.1 billion | 88,137 | 61.64% | 8.50% |
| 2003 | USD 7.0 billion | 85,692 | 56.66% | 8.50% |
| 2004 | USD 7.7 billion | 86,419 | 54.46% | 8.50% |
| 2005 | USD 8.1 billion | 87,374 | 53.28% | 8.50% |
| 2006 | USD 8.8 billion | 89,301 | 53.19% | 8.50% |
| 2007 | USD 10.0 billion | 91,551 | 53.58% | 8.50% |
| 2008 | USD 9.3 billion | 92,881 | 51.92% | 8.25% |
| 2009 | USD 7.3 billion | 93,165 | Not reported | 8.25% |
| 2010 | USD 7.8 billion | 93,448 | 44.40% | 8.25% |
| 2011 | USD 9.0 billion | 93,418 | 47.90% | 8.25% |
| 2012 | USD 8.5 billion | 93,316 | 42.30% | 8.00% |
| 2013 | USD 9.2 billion | 95,276 | 41.20% | 8.00% |
| 2014 | USD 10.5 billion | 97,236 | 41.50% | 8.00% |
| 2015 | USD 10.7 billion | 98,429 | 43.33% | 8.00% |
| 2016 | USD 10.7 billion | 99,622 | 36.90% | 6.90% |
| 2017 | USD 12.0 billion | 100,249 | 38.07% | 6.90% |
| 2018 | USD 12.5 billion | 100,875 | 37.97% | 6.90% |
| 2019 | USD 13.3 billion | 103,359 | 38.23% | 6.90% |
| 2020 | USD 13.2 billion | 102,597 | 38.52% | 6.90% |
| 2021 | USD 17.1 billion | 103,799 | 41.59% | 6.90% |
| 2022 | USD 18.6 billion | 106,301 | 48.52% | 6.90% |
| 2023 | USD 21.2 billion | 108,013 | 52.04% | 6.90% |
| 2024 | USD 23.9 billion | 110,289 | 55.24% | 6.90% |
| 2025 | USD 26.8 billion | 110,797 | 59.59% | 6.90% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 50.60% | 34.40% | 12.70% | 2.30% | 0.00% | 0.00% |
| 2002 | 47.60% | 37.70% | 12.20% | 2.50% | 0.00% | 0.00% |
| 2003 | 47.20% | 40.40% | 10.10% | 2.30% | 0.00% | 0.00% |
| 2004 | 58.30% | 31.00% | 8.90% | 1.80% | 0.00% | 0.00% |
| 2005 | 59.90% | 31.40% | 6.80% | 1.90% | 0.00% | 0.00% |
| 2006 | 62.90% | 29.40% | 6.00% | 1.70% | 0.00% | 0.00% |
| 2007 | 61.10% | 30.30% | 6.00% | 2.60% | 0.00% | 0.00% |
| 2008 | 57.80% | 27.50% | 7.10% | 4.10% | 0.00% | 3.50% |
| 2009 | 56.10% | 28.30% | 8.00% | 3.80% | 0.00% | 3.80% |
| 2010 | 55.90% | 24.90% | 9.30% | 3.60% | 0.00% | 6.30% |
| 2011 | 59.90% | 21.70% | 8.90% | 4.30% | 2.10% | 3.10% |
| 2012 | 57.50% | 21.40% | 10.60% | 5.50% | 2.30% | 2.70% |
| 2013 | 55.60% | 19.50% | 9.70% | 5.50% | 4.50% | 5.20% |
| 2014 | 56.00% | 22.50% | 9.70% | 4.90% | 4.20% | 2.70% |
| 2015 | 52.30% | 22.80% | 9.20% | 5.90% | 5.90% | 3.90% |
| 2016 | 49.70% | 23.70% | 9.90% | 7.60% | 5.90% | 3.20% |
| 2017 | 52.10% | 22.00% | 9.60% | 6.90% | 6.00% | 3.40% |
| 2018 | 51.50% | 23.80% | 8.10% | 6.30% | 6.50% | 3.80% |
| 2019 | 52.40% | 24.70% | 6.90% | 6.40% | 8.00% | 1.60% |
| 2020 | 41.00% | 29.80% | 7.60% | 12.10% | 7.50% | 2.00% |
| 2021 | 48.10% | 23.80% | 8.80% | 11.80% | 5.30% | 2.20% |
| 2022 | 42.30% | 21.70% | 12.20% | 15.90% | 6.80% | 1.10% |
| 2023 | 51.00% | 20.40% | 10.50% | 7.20% | 7.70% | 0.90% |
| 2024 | 48.80% | 19.90% | 11.30% | 6.30% | 9.50% | 1.30% |
| 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 | -3.68% | 10.99% | 10.58% |
| 2002 | -6.39% | 5.72% | 9.00% |
| 2003 | 2.49% | 2.93% | 8.06% |
| 2004 | 15.23% | 3.79% | 9.20% |
| 2005 | 10.44% | 3.30% | 8.90% |
| 2006 | 10.55% | 6.19% | 8.56% |
| 2007 | 17.34% | 11.07% | 8.36% |
| 2008 | -4.83% | 9.43% | 6.06% |
| 2009 | -18.25% | 2.20% | 2.91% |
| 2010 | 12.93% | 2.66% | 2.89% |
| 2011 | 21.15% | 4.55% | 5.28% |
| 2012 | -0.90% | 1.07% | 5.91% |
| 2013 | 11.90% | 4.40% | 6.89% |
| 2014 | 15.62% | 11.90% | 6.94% |
| 2015 | 2.84% | 9.82% | 6.18% |
| 2016 | 0.26% | 5.74% | 5.14% |
| 2017 | 14.32% | 8.80% | 4.87% |
| 2018 | 7.30% | 7.89% | 6.13% |
| 2019 | 5.88% | 6.01% | 8.92% |
| 2020 | 1.86% | 5.81% | 7.80% |
| 2021 | 24.36% | 10.47% | 8.08% |
| 2022 | -7.63% | 5.86% | 7.32% |
| 2023 | 9.02% | 6.19% | 7.04% |
| 2024 | 11.52% | 7.30% | 6.65% |
| 2025 | 10.12% | 8.99% | 7.39% |