US public pension profile
Delaware State Employees' Pension Plan
Funding, investment choices and long-term returns.
Delaware ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 12.7 billion
- Total membership
- 79,880
- Funded ratio
- 87.90%
- Assumed investment return
- 7.00%
Asset allocation in 2025
| Public equity | 56.90% |
|---|---|
| Fixed income | 25.90% |
| Private equity | 17.20% |
| Real estate | 0.00% |
| Hedge funds | 0.00% |
| Cash | 0.00% |
Returns to 2025
| One year | 11.30% |
|---|---|
| Five years | 9.10% |
| Ten years | 8.10% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 5.1 billion | 48,423 | 112.40% | 8.50% |
| 2002 | USD 4.6 billion | 49,108 | 109.60% | 8.50% |
| 2003 | USD 4.6 billion | 49,849 | 106.90% | 8.00% |
| 2004 | USD 5.2 billion | 51,094 | 103.00% | 8.00% |
| 2005 | USD 5.6 billion | 53,616 | 101.60% | 8.00% |
| 2006 | USD 6.1 billion | 54,585 | 101.70% | 8.00% |
| 2007 | USD 6.9 billion | 55,833 | 103.70% | 8.00% |
| 2008 | USD 6.6 billion | 58,312 | 103.10% | 8.00% |
| 2009 | USD 5.4 billion | 58,819 | 98.80% | 8.00% |
| 2010 | USD 5.9 billion | 59,840 | 96.00% | 8.00% |
| 2011 | USD 7.1 billion | 60,919 | 94.00% | 7.50% |
| 2012 | USD 6.9 billion | 61,820 | 91.50% | 7.50% |
| 2013 | USD 7.4 billion | 62,955 | 91.10% | 7.50% |
| 2014 | USD 8.4 billion | 64,207 | 92.30% | 7.50% |
| 2015 | USD 8.4 billion | 65,666 | 91.59% | 7.20% |
| 2016 | USD 8.0 billion | 67,304 | 89.01% | 7.20% |
| 2017 | USD 8.5 billion | 68,910 | 86.50% | 7.00% |
| 2018 | USD 9.0 billion | 70,085 | 85.96% | 7.00% |
| 2019 | USD 9.1 billion | 71,626 | 85.51% | 7.00% |
| 2020 | USD 9.6 billion | 73,005 | 85.55% | 7.00% |
| 2021 | USD 12.9 billion | 73,589 | 89.13% | 7.00% |
| 2022 | USD 10.8 billion | 74,807 | 87.65% | 7.00% |
| 2023 | USD 11.1 billion | 76,368 | 87.00% | 7.00% |
| 2024 | USD 11.8 billion | 78,095 | 87.13% | 7.00% |
| 2025 | USD 12.7 billion | 79,880 | 87.90% | 7.00% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 56.40% | 30.90% | 10.40% | 0.00% | 0.00% | 2.30% |
| 2002 | 60.10% | 28.10% | 9.90% | 0.00% | 0.00% | 1.90% |
| 2003 | 65.90% | 20.10% | 11.40% | 0.00% | 0.00% | 2.60% |
| 2004 | 63.30% | 23.00% | 11.00% | 0.00% | 0.00% | 2.70% |
| 2005 | 66.40% | 19.20% | 10.40% | 0.00% | 0.00% | 4.00% |
| 2006 | 65.80% | 20.90% | 11.90% | 0.00% | 0.00% | 1.40% |
| 2007 | 55.00% | 32.60% | 12.40% | 0.00% | 0.00% | 0.00% |
| 2008 | 54.60% | 27.30% | 18.10% | 0.00% | 0.00% | 0.00% |
| 2009 | 47.80% | 28.90% | 23.30% | 0.00% | 0.00% | 0.00% |
| 2010 | 44.60% | 29.80% | 25.60% | 0.00% | 0.00% | 0.00% |
| 2011 | 48.10% | 27.40% | 24.50% | 0.00% | 0.00% | 0.00% |
| 2012 | 44.90% | 29.90% | 25.20% | 0.00% | 0.00% | 0.00% |
| 2013 | 54.10% | 27.00% | 18.90% | 0.00% | 0.00% | 0.00% |
| 2014 | 46.50% | 34.50% | 19.00% | 0.00% | 0.00% | 0.00% |
| 2015 | 47.30% | 30.50% | 22.20% | 0.00% | 0.00% | 0.00% |
| 2016 | 43.80% | 34.00% | 22.20% | 0.00% | 0.00% | 0.00% |
| 2017 | 47.20% | 30.10% | 22.70% | 0.00% | 0.00% | 0.00% |
| 2018 | 44.60% | 31.00% | 24.40% | 0.00% | 0.00% | 0.00% |
| 2019 | 43.00% | 34.60% | 22.40% | 0.00% | 0.00% | 0.00% |
| 2020 | 43.70% | 33.30% | 23.00% | 0.00% | 0.00% | 0.00% |
| 2021 | 50.40% | 25.40% | 24.20% | 0.00% | 0.00% | 0.00% |
| 2022 | 46.80% | 23.60% | 29.60% | 0.00% | 0.00% | 0.00% |
| 2023 | 49.80% | 30.90% | 19.30% | 0.00% | 0.00% | 0.00% |
| 2024 | 58.00% | 26.50% | 15.50% | 0.00% | 0.00% | 0.00% |
| 2025 | 56.90% | 25.90% | 17.20% | 0.00% | 0.00% | 0.00% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -5.10% | 11.40% | 12.70% |
| 2002 | -6.30% | 6.40% | 10.60% |
| 2003 | 3.10% | 3.50% | 9.30% |
| 2004 | 15.90% | 4.40% | 10.60% |
| 2005 | 9.60% | 3.10% | 9.70% |
| 2006 | 12.40% | 6.90% | 9.20% |
| 2007 | 15.90% | 11.50% | 9.00% |
| 2008 | -1.30% | 10.50% | 7.10% |
| 2009 | -15.80% | 3.60% | 4.20% |
| 2010 | 14.10% | 4.30% | 3.90% |
| 2011 | 24.30% | 6.60% | 6.70% |
| 2012 | 2.00% | 3.90% | 7.60% |
| 2013 | 11.10% | 6.40% | 8.40% |
| 2014 | 17.50% | 13.60% | 8.50% |
| 2015 | 3.90% | 11.40% | 7.90% |
| 2016 | -1.30% | 6.40% | 6.50% |
| 2017 | 11.30% | 8.30% | 6.10% |
| 2018 | 10.60% | 8.20% | 7.30% |
| 2019 | 5.00% | 5.80% | 9.60% |
| 2020 | 10.00% | 7.00% | 9.20% |
| 2021 | 38.10% | 14.40% | 10.40% |
| 2022 | -13.40% | 8.80% | 8.60% |
| 2023 | 5.30% | 7.80% | 8.00% |
| 2024 | 10.50% | 8.90% | 7.30% |
| 2025 | 11.30% | 9.10% | 8.10% |