US public pension profile· CCCERA
Contra Costa County Employees’ Retirement Association
Funding, investment choices and long-term returns.
California ·Fiscal year 2025
CCCERA: fiscal year 2025 at a glance
- Market value of assets
- USD 13.0 billion
- Total membership
- 25,946
- Funded ratio
- 91.01%
- Assumed investment return
- 6.75%
Asset allocation in 2025
| Public equity | 43.45% |
|---|---|
| Fixed income | 16.49% |
| Private equity | 10.46% |
| Real estate | 7.61% |
| Hedge funds | 18.50% |
| Cash | 3.49% |
Returns to 2025
| One year | 12.60% |
|---|---|
| Five years | 6.20% |
| Ten years | 7.20% |
CCCERA: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 2.7 billion | 16,079 | 87.60% | 8.35% |
| 2002 | USD 2.4 billion | 16,297 | 89.60% | 8.00% |
| 2003 | USD 3.3 billion | 16,660 | 85.40% | 7.90% |
| 2004 | USD 3.7 billion | 16,993 | 82.00% | 7.90% |
| 2005 | USD 4.2 billion | 17,373 | 84.80% | 7.90% |
| 2006 | USD 4.9 billion | 17,775 | 84.30% | 7.80% |
| 2007 | USD 5.2 billion | 18,340 | 89.88% | 7.80% |
| 2008 | USD 3.7 billion | 18,550 | 88.45% | 7.80% |
| 2009 | USD 4.5 billion | 18,439 | 83.77% | 7.75% |
| 2010 | USD 5.0 billion | 18,601 | 80.28% | 7.75% |
| 2011 | USD 5.1 billion | 18,928 | 78.47% | 7.75% |
| 2012 | USD 5.7 billion | 19,445 | 70.64% | 7.25% |
| 2013 | USD 6.5 billion | 20,094 | 76.41% | 7.25% |
| 2014 | USD 6.9 billion | 20,677 | 81.69% | 7.25% |
| 2015 | USD 7.0 billion | 21,500 | 84.47% | 7.25% |
| 2016 | USD 7.4 billion | 22,037 | 86.50% | 7.00% |
| 2017 | USD 8.4 billion | 22,632 | 88.53% | 7.00% |
| 2018 | USD 8.1 billion | 23,045 | 89.34% | 7.00% |
| 2019 | USD 9.3 billion | 23,450 | 90.60% | 7.00% |
| 2020 | USD 10.1 billion | 23,708 | 91.83% | 7.00% |
| 2021 | USD 11.5 billion | 24,095 | 92.43% | 7.00% |
| 2022 | USD 10.1 billion | 24,617 | 91.18% | 6.75% |
| 2023 | USD 10.8 billion | 25,263 | 91.03% | 6.75% |
| 2024 | USD 11.6 billion | 25,946 | 91.01% | 6.75% |
| 2025 | USD 13.0 billion | 25,946 | 91.01% | 6.75% |
CCCERA: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 42.57% | 40.96% | 1.86% | 9.84% | 0.00% | 4.77% |
| 2002 | 47.70% | 38.50% | 2.00% | 11.10% | 0.00% | 0.70% |
| 2003 | 57.90% | 30.00% | 1.50% | 9.50% | 0.00% | 1.10% |
| 2004 | 55.76% | 31.63% | 1.90% | 10.01% | 0.00% | 0.70% |
| 2005 | 58.20% | 29.90% | 2.50% | 8.80% | 0.00% | 0.60% |
| 2006 | 57.06% | 30.13% | 3.20% | 9.11% | 0.00% | 0.50% |
| 2007 | 57.96% | 28.93% | 3.30% | 9.11% | 0.00% | 0.70% |
| 2008 | 48.43% | 28.70% | 13.94% | 8.90% | 0.00% | 0.03% |
| 2009 | 56.71% | 22.52% | 10.81% | 9.87% | 0.00% | 0.09% |
| 2010 | 55.25% | 22.36% | 11.71% | 10.62% | 0.00% | 0.06% |
| 2011 | 49.39% | 27.71% | 12.13% | 10.69% | 0.00% | 0.08% |
| 2012 | 52.32% | 23.50% | 11.63% | 12.50% | 0.00% | 0.05% |
| 2013 | 49.38% | 23.17% | 10.62% | 12.12% | 0.00% | 0.05% |
| 2014 | 47.27% | 28.03% | 7.38% | 12.76% | 0.00% | 0.06% |
| 2015 | 45.60% | 30.23% | 7.72% | 11.64% | 0.00% | 0.07% |
| 2016 | 40.20% | 30.90% | 11.90% | 9.00% | 0.00% | 5.60% |
| 2017 | 46.29% | 26.95% | 11.62% | 8.12% | 0.00% | 4.91% |
| 2018 | 39.10% | 30.50% | 14.80% | 8.30% | 0.00% | 5.20% |
| 2019 | 37.70% | 23.10% | 10.90% | 7.60% | 10.70% | 2.20% |
| 2020 | 40.30% | 22.30% | 10.20% | 6.60% | 12.30% | 3.30% |
| 2021 | 42.15% | 15.11% | 12.13% | 6.06% | 12.13% | 4.87% |
| 2022 | 40.20% | 16.30% | 13.30% | 7.50% | 13.20% | 2.00% |
| 2023 | 42.60% | 16.20% | 12.00% | 7.00% | 19.80% | 2.40% |
| 2024 | 38.00% | 20.00% | 12.00% | 7.00% | 18.00% | 5.00% |
| 2025 | 43.45% | 16.49% | 10.46% | 7.61% | 18.50% | 3.49% |
CCCERA: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -2.40% | 14.20% | Not reported |
| 2002 | -9.50% | 4.00% | Not reported |
| 2003 | 23.50% | 5.30% | Not reported |
| 2004 | 13.40% | 4.90% | Not reported |
| 2005 | 10.80% | 6.60% | 10.22% |
| 2006 | 15.30% | 10.10% | 10.20% |
| 2007 | 7.30% | 14.00% | 8.82% |
| 2008 | -26.50% | 2.70% | 4.00% |
| 2009 | 21.90% | 4.20% | 4.50% |
| 2010 | 14.00% | 4.80% | 5.70% |
| 2011 | 2.70% | 2.40% | 6.20% |
| 2012 | 14.10% | 3.60% | 8.70% |
| 2013 | 16.50% | 13.70% | 8.10% |
| 2014 | 8.40% | 11.00% | 7.60% |
| 2015 | 2.60% | 8.70% | 6.70% |
| 2016 | 7.40% | 9.70% | 6.00% |
| 2017 | 14.20% | 9.70% | 6.70% |
| 2018 | -2.70% | 5.40% | 9.10% |
| 2019 | 14.60% | 6.80% | 8.50% |
| 2020 | 9.20% | 8.20% | 8.10% |
| 2021 | 13.90% | 9.60% | 9.30% |
| 2022 | -10.60% | 4.40% | 6.70% |
| 2023 | 9.00% | 6.80% | 6.10% |
| 2024 | 8.30% | 5.60% | 6.20% |
| 2025 | 12.60% | 6.20% | 7.20% |