US public pension profile
Dallas Employees Retirement System
Funding, investment choices and long-term returns.
Texas ·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 | USD 1.8 billion | 12,894 | 88.60% | 8.50% |
| 2002 | USD 1.6 billion | 12,653 | 77.67% | 8.50% |
| 2003 | USD 1.9 billion | 12,844 | 74.05% | 8.50% |
| 2004 | USD 2.1 billion | 13,240 | 99.75% | 8.25% |
| 2005 | USD 2.8 billion | 13,576 | 105.11% | 8.25% |
| 2006 | USD 3.2 billion | 13,949 | 108.57% | 8.25% |
| 2007 | USD 3.2 billion | 14,464 | 109.20% | 8.25% |
| 2008 | USD 2.1 billion | 14,939 | 96.17% | 8.25% |
| 2009 | USD 2.6 billion | 14,579 | 94.97% | 8.25% |
| 2010 | USD 2.9 billion | 14,138 | 92.24% | 8.25% |
| 2011 | USD 2.7 billion | 13,991 | 86.00% | 8.25% |
| 2012 | USD 3.0 billion | 14,227 | 80.89% | 8.25% |
| 2013 | USD 3.3 billion | 14,492 | 85.14% | 8.25% |
| 2014 | USD 3.4 billion | 14,877 | 80.94% | 8.00% |
| 2015 | USD 3.2 billion | 15,396 | 80.41% | 8.00% |
| 2016 | USD 3.4 billion | 15,737 | 80.42% | 7.75% |
| 2017 | USD 3.6 billion | 16,128 | 82.27% | 7.75% |
| 2018 | USD 3.3 billion | 16,300 | 79.97% | 7.75% |
| 2019 | USD 3.7 billion | 16,498 | 75.73% | 7.25% |
| 2020 | USD 3.7 billion | 16,506 | 75.96% | 7.25% |
| 2021 | USD 4.1 billion | 16,811 | 76.02% | 7.25% |
| 2022 | USD 3.5 billion | 17,422 | 73.28% | 7.25% |
| 2023 | USD 3.6 billion | 17,915 | 70.10% | 7.25% |
| 2024 | USD 3.8 billion | 18,161 | 68.41% | 7.25% |
| 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 | 70.00% | 29.00% | 0.00% | 0.00% | 0.00% | 1.00% |
| 2002 | 66.00% | 33.00% | 0.00% | 0.00% | 0.00% | 1.00% |
| 2003 | 69.00% | 30.00% | 0.00% | 0.00% | 0.00% | 1.00% |
| 2004 | 72.00% | 27.00% | 0.00% | 0.00% | 0.00% | 1.00% |
| 2005 | 70.00% | 29.00% | 0.00% | 0.00% | 0.00% | 1.00% |
| 2006 | 69.31% | 29.70% | 0.00% | 0.00% | 0.00% | 0.99% |
| 2007 | 69.00% | 27.00% | 0.00% | 0.00% | 0.00% | 4.00% |
| 2008 | 63.00% | 29.00% | 0.00% | 0.00% | 0.00% | 8.00% |
| 2009 | 70.00% | 27.00% | 0.00% | 0.00% | 0.00% | 3.00% |
| 2010 | 64.00% | 27.00% | 0.00% | 5.00% | 0.00% | 4.00% |
| 2011 | 60.50% | 32.10% | 0.00% | 6.20% | 0.00% | 1.20% |
| 2012 | 59.60% | 29.80% | 0.00% | 6.40% | 0.00% | 4.20% |
| 2013 | 61.36% | 26.53% | 0.00% | 6.61% | 0.00% | 5.51% |
| 2014 | 59.54% | 26.51% | 0.00% | 7.02% | 0.00% | 6.92% |
| 2015 | 57.60% | 27.50% | 0.00% | 7.70% | 0.00% | 7.20% |
| 2016 | 58.47% | 26.21% | 0.00% | 6.05% | 0.00% | 9.27% |
| 2017 | 57.00% | 26.00% | 0.00% | 8.00% | 0.00% | 9.00% |
| 2018 | 34.00% | 25.00% | 13.00% | 12.00% | 15.00% | 1.00% |
| 2019 | 35.00% | 24.00% | 14.00% | 11.00% | 15.00% | 1.00% |
| 2020 | 36.00% | 24.00% | 7.00% | 10.00% | 17.00% | 1.00% |
| 2021 | 35.00% | 22.00% | 8.00% | 10.00% | 18.00% | 1.00% |
| 2022 | 28.00% | 22.00% | 11.00% | 13.00% | 18.00% | 2.00% |
| 2023 | 28.97% | 25.28% | 10.19% | 9.59% | 15.18% | 1.10% |
| 2024 | 28.40% | 25.70% | 9.70% | 9.10% | 15.70% | 1.70% |
| 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 | -5.28% | 8.60% | Not reported |
| 2002 | -9.72% | 2.46% | Not reported |
| 2003 | 26.66% | 4.10% | Not reported |
| 2004 | 15.61% | 3.89% | Not reported |
| 2005 | 8.27% | 6.28% | Not reported |
| 2006 | 17.33% | 10.93% | Not reported |
| 2007 | 3.73% | 14.05% | Not reported |
| 2008 | -30.85% | 1.05% | Not reported |
| 2009 | 30.62% | 3.54% | Not reported |
| 2010 | 15.77% | 4.94% | 5.61% |
| 2011 | 0.88% | 1.83% | 6.27% |
| 2012 | 14.29% | 3.85% | 8.81% |
| 2013 | 16.90% | 15.35% | 7.94% |
| 2014 | 6.47% | 10.71% | 7.06% |
| 2015 | -1.77% | 7.12% | 6.02% |
| 2016 | 9.17% | 8.84% | 5.26% |
| 2017 | 13.29% | 8.65% | 6.19% |
| 2018 | -4.43% | 4.36% | 9.68% |
| 2019 | 17.58% | 6.45% | 8.53% |
| 2020 | 5.76% | 8.03% | 7.56% |
| 2021 | 16.38% | 9.41% | 9.10% |
| 2022 | -8.38% | 4.67% | 6.72% |
| 2023 | 10.09% | 7.70% | 6.08% |
| 2024 | 9.14% | 6.16% | 6.34% |
| 2025 | Not reported | Not reported | Not reported |