US public pension profile
Colorado Public Employee Retirement Association-Denver Public Schools Division
Funding, investment choices and long-term returns.
Colorado ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 5.3 billion
- Total membership
- 46,007
- Funded ratio
- 89.34%
- Assumed investment return
- 7.25%
Asset allocation in 2025
| Public equity | 55.70% |
|---|---|
| Fixed income | 21.00% |
| Private equity | 7.50% |
| Real estate | 9.00% |
| Hedge funds | 0.00% |
| Cash | 0.80% |
Returns to 2025
| One year | 14.10% |
|---|---|
| Five years | 7.60% |
| Ten years | 9.50% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 2.3 billion | 13,650 | 97.00% | 8.75% |
| 2002 | USD 2.1 billion | 13,519 | 91.00% | 8.75% |
| 2003 | USD 2.4 billion | 13,257 | 90.60% | 8.75% |
| 2004 | USD 2.6 billion | 16,057 | 88.20% | 8.50% |
| 2005 | USD 2.7 billion | 14,119 | 87.90% | 8.50% |
| 2006 | USD 2.9 billion | 14,248 | 88.30% | 8.50% |
| 2007 | USD 3.0 billion | 14,605 | 87.70% | 8.50% |
| 2008 | USD 2.5 billion | 15,067 | 84.30% | 8.50% |
| 2009 | USD 2.7 billion | 19,772 | 88.30% | 8.00% |
| 2010 | USD 2.9 billion | 21,781 | 88.90% | 8.00% |
| 2011 | USD 2.8 billion | 23,553 | 81.50% | 8.00% |
| 2012 | USD 3.0 billion | 25,385 | 84.00% | 8.00% |
| 2013 | USD 3.3 billion | 27,640 | 81.20% | 7.50% |
| 2014 | USD 3.3 billion | 29,749 | 82.58% | 7.50% |
| 2015 | USD 3.1 billion | 31,968 | 82.13% | 7.50% |
| 2016 | USD 3.1 billion | 33,810 | 75.85% | 7.25% |
| 2017 | USD 3.5 billion | 35,550 | 79.68% | 7.25% |
| 2018 | USD 3.2 billion | 37,370 | 76.76% | 7.25% |
| 2019 | USD 3.7 billion | 38,337 | 79.99% | 7.25% |
| 2020 | USD 4.1 billion | 38,725 | 81.24% | 7.25% |
| 2021 | USD 4.6 billion | 40,556 | 86.87% | 7.25% |
| 2022 | USD 3.9 billion | 42,052 | 90.27% | 7.25% |
| 2023 | USD 4.3 billion | 43,479 | 89.58% | 7.25% |
| 2024 | USD 4.7 billion | 44,984 | 91.19% | 7.25% |
| 2025 | USD 5.3 billion | 46,007 | 89.34% | 7.25% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 41.90% | 36.80% | 5.10% | 12.30% | 0.00% | 3.90% |
| 2002 | 37.80% | 40.30% | 4.20% | 12.30% | 0.00% | 5.40% |
| 2003 | 51.00% | 30.70% | 3.70% | 10.00% | 0.00% | 4.60% |
| 2004 | 58.00% | 29.00% | 3.00% | 9.00% | 0.00% | 1.00% |
| 2005 | 57.00% | 29.00% | 4.00% | 9.00% | 0.00% | 1.00% |
| 2006 | 55.00% | 31.00% | 4.00% | 9.00% | 0.00% | 1.00% |
| 2007 | 55.00% | 29.00% | 5.00% | 10.00% | 0.00% | 1.00% |
| 2008 | 40.35% | 31.58% | 5.26% | 21.05% | 0.00% | 1.75% |
| 2009 | 49.11% | 27.68% | 6.25% | 16.07% | 0.00% | 0.89% |
| 2010 | 57.70% | 22.90% | 9.30% | 7.40% | 2.10% | 0.60% |
| 2011 | 55.50% | 23.60% | 9.30% | 8.60% | 2.10% | 0.90% |
| 2012 | 56.50% | 23.30% | 8.70% | 8.10% | 2.50% | 0.90% |
| 2013 | 58.40% | 23.40% | 7.80% | 7.10% | 2.50% | 0.80% |
| 2014 | 56.50% | 24.90% | 7.80% | 7.40% | 2.50% | 0.90% |
| 2015 | 55.50% | 24.70% | 8.20% | 8.60% | 2.20% | 0.80% |
| 2016 | 55.90% | 22.70% | 8.40% | 9.00% | 2.60% | 1.40% |
| 2017 | 57.70% | 21.90% | 8.00% | 8.60% | 3.40% | 0.40% |
| 2018 | 53.40% | 24.00% | 8.80% | 9.60% | 3.60% | 0.60% |
| 2019 | 56.90% | 22.10% | 8.10% | 8.90% | 3.50% | 0.50% |
| 2020 | 58.00% | 20.80% | 8.10% | 8.00% | 4.10% | 1.00% |
| 2021 | 58.30% | 18.40% | 9.20% | 8.80% | 4.70% | 0.60% |
| 2022 | 52.80% | 19.40% | 9.20% | 11.90% | 6.30% | 0.40% |
| 2023 | 55.00% | 18.90% | 8.70% | 10.10% | 0.00% | 0.40% |
| 2024 | 55.50% | 19.70% | 7.70% | 9.20% | 0.00% | 0.70% |
| 2025 | 55.70% | 21.00% | 7.50% | 9.00% | 0.00% | 0.80% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | 0.17% | 10.24% | Not reported |
| 2002 | -5.15% | 5.80% | Not reported |
| 2003 | 23.08% | 7.54% | Not reported |
| 2004 | 12.71% | 6.25% | Not reported |
| 2005 | 10.64% | 7.84% | Not reported |
| 2006 | 12.61% | 10.40% | Not reported |
| 2007 | 10.07% | 13.73% | Not reported |
| 2008 | -24.31% | 3.19% | Not reported |
| 2009 | 19.93% | 4.48% | Not reported |
| 2010 | 14.00% | 4.70% | 4.60% |
| 2011 | 1.90% | 2.10% | 5.70% |
| 2012 | 12.90% | 2.60% | 8.40% |
| 2013 | 15.60% | 12.20% | 7.60% |
| 2014 | 5.70% | 9.90% | 6.80% |
| 2015 | 1.50% | 7.30% | 6.00% |
| 2016 | 7.30% | 8.50% | 5.20% |
| 2017 | 18.10% | 9.50% | 6.00% |
| 2018 | -3.50% | 5.60% | 8.80% |
| 2019 | 20.30% | 8.40% | 9.10% |
| 2020 | 17.40% | 11.60% | 9.40% |
| 2021 | 16.10% | 13.30% | 10.90% |
| 2022 | -13.40% | 6.50% | 8.00% |
| 2023 | 13.40% | 10.00% | 7.80% |
| 2024 | 10.80% | 8.20% | 8.30% |
| 2025 | 14.10% | 7.60% | 9.50% |