US public pension profile
District of Columbia Police Officers’ & Firefighters’ Retirement Plan
Funding, investment choices and long-term returns.
District of Columbia ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 9.7 billion
- Total membership
- 10,635
- Funded ratio
- 108.29%
- Assumed investment return
- 6.25%
Asset allocation in 2025
| Public equity | 45.00% |
|---|---|
| Fixed income | 25.00% |
| Private equity | 10.00% |
| Real estate | 8.00% |
| Hedge funds | 4.00% |
| Cash | 1.00% |
Returns to 2025
| One year | 10.30% |
|---|---|
| Five years | 8.90% |
| Ten years | 8.10% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 1.1 billion | 5,505 | Not reported | 7.25% |
| 2002 | USD 1.1 billion | 5,494 | Not reported | 7.25% |
| 2003 | USD 1.3 billion | 6,265 | Not reported | 7.25% |
| 2004 | USD 1.6 billion | 6,168 | Not reported | 7.25% |
| 2005 | USD 2.0 billion | 6,363 | Not reported | 7.25% |
| 2006 | USD 2.3 billion | 6,571 | 91.61% | 7.25% |
| 2007 | USD 2.9 billion | 6,949 | 100.97% | 7.50% |
| 2008 | USD 2.5 billion | 7,092 | 99.77% | 7.00% |
| 2009 | USD 2.5 billion | 7,342 | 100.68% | 7.00% |
| 2010 | USD 2.9 billion | 7,385 | 107.96% | 7.00% |
| 2011 | USD 3.1 billion | 7,605 | 108.58% | 7.00% |
| 2012 | USD 3.7 billion | 7,734 | 110.10% | 6.50% |
| 2013 | USD 4.2 billion | 7,919 | 110.14% | 6.50% |
| 2014 | USD 4.6 billion | 8,173 | 107.26% | 6.50% |
| 2015 | USD 4.5 billion | 8,465 | 107.57% | 6.50% |
| 2016 | USD 5.0 billion | 8,655 | 110.82% | 6.50% |
| 2017 | USD 5.7 billion | 8,867 | 110.83% | 6.50% |
| 2018 | USD 6.0 billion | 9,105 | 111.96% | 6.50% |
| 2019 | USD 6.3 billion | 9,366 | 111.87% | 6.50% |
| 2020 | USD 6.6 billion | 9,609 | 110.83% | 6.50% |
| 2021 | USD 8.0 billion | 9,699 | 117.93% | 6.25% |
| 2022 | USD 6.9 billion | 9,862 | 114.66% | 6.25% |
| 2023 | USD 7.7 billion | 9,969 | 106.87% | 6.25% |
| 2024 | USD 8.9 billion | 10,477 | 108.29% | 6.25% |
| 2025 | USD 9.7 billion | 10,635 | 108.29% | 6.25% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 53.56% | 34.85% | 0.00% | 0.00% | 0.00% | 11.58% |
| 2002 | 53.15% | 41.64% | 3.90% | 0.10% | 0.00% | 1.20% |
| 2003 | 64.07% | 31.69% | 3.00% | 0.04% | 0.00% | 1.20% |
| 2004 | 67.61% | 28.26% | 2.80% | 0.04% | 0.00% | 1.30% |
| 2005 | 69.93% | 24.68% | 3.00% | 1.60% | 0.00% | 0.80% |
| 2006 | 68.29% | 22.43% | 5.08% | 3.99% | 0.00% | 0.20% |
| 2007 | 68.90% | 19.50% | 6.20% | 5.20% | 0.00% | 0.20% |
| 2008 | 55.50% | 23.40% | 13.30% | 7.60% | 0.00% | 0.20% |
| 2009 | 54.40% | 25.30% | 13.30% | 5.20% | 0.00% | 1.80% |
| 2010 | 54.45% | 24.22% | 14.52% | 4.50% | 0.00% | 2.30% |
| 2011 | 48.04% | 27.45% | 9.80% | 4.90% | 6.86% | 0.98% |
| 2012 | 52.00% | 27.00% | 8.00% | 0.00% | 5.00% | 1.00% |
| 2013 | 52.95% | 27.97% | 6.99% | 0.00% | 5.10% | 1.00% |
| 2014 | 54.05% | 29.87% | 5.89% | 0.00% | 4.40% | 0.20% |
| 2015 | 52.20% | 30.80% | 5.20% | 0.00% | 4.70% | 0.90% |
| 2016 | 54.90% | 29.70% | 4.50% | 0.00% | 4.00% | 0.40% |
| 2017 | 52.95% | 30.37% | 4.00% | 0.00% | 3.80% | 0.80% |
| 2018 | 52.95% | 30.37% | 4.00% | 0.00% | 3.80% | 0.80% |
| 2019 | 54.00% | 32.00% | 5.00% | 0.00% | 0.00% | 1.00% |
| 2020 | 53.25% | 32.37% | 6.59% | 0.00% | 0.00% | 0.00% |
| 2021 | 49.00% | 30.00% | 8.00% | 7.00% | 2.00% | 1.00% |
| 2022 | 45.00% | 28.00% | 11.00% | 8.00% | 1.00% | 1.00% |
| 2023 | 44.00% | 27.00% | 12.00% | 8.00% | 2.00% | 1.00% |
| 2024 | 45.00% | 25.50% | 11.00% | 8.00% | 3.00% | 0.50% |
| 2025 | 45.00% | 25.00% | 10.00% | 8.00% | 4.00% | 1.00% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -11.70% | Not reported | Not reported |
| 2002 | -7.90% | 2.20% | 8.20% |
| 2003 | 16.30% | 5.00% | 8.30% |
| 2004 | 11.90% | 3.90% | 9.20% |
| 2005 | 13.90% | 3.80% | 8.80% |
| 2006 | 10.40% | 8.50% | 8.70% |
| 2007 | 16.80% | 13.80% | 7.90% |
| 2008 | -16.90% | 6.40% | 5.70% |
| 2009 | -2.20% | 3.60% | 3.70% |
| 2010 | 10.30% | 2.90% | 3.40% |
| 2011 | 2.90% | 1.50% | 5.00% |
| 2012 | 14.50% | 1.10% | 7.30% |
| 2013 | 11.30% | 7.20% | 6.80% |
| 2014 | 8.40% | 9.40% | 6.50% |
| 2015 | -3.90% | 6.40% | 4.70% |
| 2016 | 9.40% | 7.80% | 4.60% |
| 2017 | 13.10% | 7.50% | 4.20% |
| 2018 | 5.40% | 6.30% | 6.80% |
| 2019 | 3.90% | 5.40% | 7.40% |
| 2020 | 5.40% | 7.40% | 6.90% |
| 2021 | 20.90% | 9.50% | 8.60% |
| 2022 | -12.50% | 4.00% | 5.70% |
| 2023 | 11.90% | 5.30% | 5.70% |
| 2024 | 17.50% | 7.90% | 6.60% |
| 2025 | 10.30% | 8.90% | 8.10% |