US public pension profile
Fairfax County Police Officer's Retirement System
Funding, investment choices and long-term returns.
Virginia ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 2.0 billion
- Total membership
- 2,962
- Funded ratio
- 77.64%
- Assumed investment return
- 6.75%
Asset allocation in 2025
| Public equity | 32.80% |
|---|---|
| Fixed income | 24.60% |
| Private equity | 0.00% |
| Real estate | 0.00% |
| Hedge funds | 25.80% |
| Cash | 4.90% |
Returns to 2025
| One year | 8.90% |
|---|---|
| Five years | 9.00% |
| Ten years | 6.30% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 0.6 billion | 1,804 | 99.03% | 7.50% |
| 2002 | USD 0.6 billion | 1,858 | 95.70% | 7.50% |
| 2003 | USD 0.6 billion | 1,912 | 91.54% | 7.50% |
| 2004 | USD 0.7 billion | 2,032 | 91.48% | 7.50% |
| 2005 | USD 0.7 billion | 2,043 | 88.40% | 7.50% |
| 2006 | USD 0.8 billion | 2,072 | 87.89% | 7.50% |
| 2007 | USD 0.9 billion | 2,129 | 89.91% | 7.50% |
| 2008 | USD 0.9 billion | 2,185 | 88.05% | 7.50% |
| 2009 | USD 0.7 billion | 2,219 | 81.74% | 7.50% |
| 2010 | USD 0.8 billion | 2,217 | 79.25% | 7.50% |
| 2011 | USD 1.0 billion | 2,236 | 80.35% | 7.50% |
| 2012 | USD 1.0 billion | 2,258 | 80.46% | 7.50% |
| 2013 | USD 1.1 billion | 2,266 | 82.13% | 7.50% |
| 2014 | USD 1.3 billion | 2,308 | 84.97% | 7.50% |
| 2015 | USD 1.3 billion | 2,386 | 86.51% | 7.50% |
| 2016 | USD 1.3 billion | 2,480 | 85.43% | 7.25% |
| 2017 | USD 1.4 billion | 2,531 | 84.98% | 7.25% |
| 2018 | USD 1.4 billion | 2,589 | 85.15% | 7.25% |
| 2019 | USD 1.5 billion | 2,663 | 85.44% | 7.25% |
| 2020 | USD 1.4 billion | 2,699 | 83.06% | 7.25% |
| 2021 | USD 1.8 billion | 2,751 | 85.99% | 6.75% |
| 2022 | USD 1.8 billion | 2,777 | 82.21% | 6.75% |
| 2023 | USD 1.7 billion | 2,815 | 81.52% | 6.75% |
| 2024 | USD 1.8 billion | 2,893 | 78.93% | 6.75% |
| 2025 | USD 2.0 billion | 2,962 | 77.64% | 6.75% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 50.75% | 36.44% | 0.00% | 12.41% | 0.00% | 0.40% |
| 2002 | 51.40% | 35.60% | 0.00% | 13.00% | 0.00% | 0.00% |
| 2003 | 56.30% | 32.90% | 0.00% | 10.80% | 0.00% | 0.00% |
| 2004 | 56.60% | 32.70% | 0.00% | 10.70% | 0.00% | 0.00% |
| 2005 | 54.90% | 34.10% | 0.00% | 11.00% | 0.00% | 0.00% |
| 2006 | 57.20% | 30.60% | 0.00% | 12.20% | 0.00% | 0.00% |
| 2007 | 60.60% | 30.40% | 0.00% | 9.00% | 0.00% | 0.00% |
| 2008 | 57.06% | 34.64% | 0.00% | 8.31% | 0.00% | 0.00% |
| 2009 | 53.90% | 35.60% | 0.00% | 6.20% | 4.30% | 0.00% |
| 2010 | 57.40% | 25.30% | 0.00% | 10.00% | 7.30% | 0.00% |
| 2011 | 55.10% | 22.50% | 0.00% | 10.00% | 12.40% | 0.00% |
| 2012 | 27.60% | 24.80% | 0.00% | 5.50% | 42.10% | 0.00% |
| 2013 | 29.10% | 24.70% | 0.00% | 5.80% | 40.40% | 0.00% |
| 2014 | 24.69% | 23.45% | 0.00% | 4.89% | 46.98% | 0.00% |
| 2015 | 22.41% | 23.02% | 0.00% | 3.81% | 50.76% | 0.00% |
| 2016 | 23.52% | 20.68% | 0.00% | 4.46% | 51.34% | 0.00% |
| 2017 | 24.05% | 22.87% | 0.00% | 6.39% | 46.69% | 0.00% |
| 2018 | 24.81% | 21.57% | 0.00% | 6.70% | 42.91% | 4.01% |
| 2019 | 16.64% | 28.48% | 0.00% | 7.93% | 46.95% | 0.00% |
| 2020 | 20.98% | 36.44% | 0.00% | 9.17% | 33.41% | 0.00% |
| 2021 | 27.87% | 30.82% | 0.00% | 9.32% | 31.99% | 0.00% |
| 2022 | 29.60% | 27.80% | 0.00% | 10.10% | 30.90% | 0.00% |
| 2023 | 27.90% | 30.40% | 0.00% | 0.00% | 28.60% | 2.30% |
| 2024 | 30.27% | 28.37% | 0.00% | 0.00% | 27.97% | 3.30% |
| 2025 | 32.80% | 24.60% | 0.00% | 0.00% | 25.80% | 4.90% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -2.70% | 10.50% | 11.60% |
| 2002 | -4.80% | 5.10% | 9.70% |
| 2003 | 4.63% | 2.65% | 8.47% |
| 2004 | 16.10% | 4.00% | 9.90% |
| 2005 | 9.60% | 4.30% | 9.30% |
| 2006 | 10.00% | 6.90% | 8.70% |
| 2007 | 18.00% | 11.60% | 8.30% |
| 2008 | -5.70% | 9.30% | 5.90% |
| 2009 | -17.10% | 2.20% | 3.10% |
| 2010 | 21.20% | 4.20% | 4.20% |
| 2011 | 25.70% | 7.00% | 6.90% |
| 2012 | -0.30% | 3.40% | 7.40% |
| 2013 | 9.70% | 6.60% | 7.90% |
| 2014 | 16.40% | 14.20% | 7.90% |
| 2015 | 3.50% | 10.60% | 7.30% |
| 2016 | 1.10% | 5.90% | 6.40% |
| 2017 | 9.30% | 7.70% | 5.40% |
| 2018 | 7.00% | 7.20% | 6.70% |
| 2019 | 5.10% | 5.10% | 9.40% |
| 2020 | -3.90% | 3.60% | 6.90% |
| 2021 | 31.20% | 9.20% | 7.40% |
| 2022 | 0.90% | 7.40% | 7.60% |
| 2023 | -3.90% | 5.20% | 6.20% |
| 2024 | 11.20% | 6.30% | 5.70% |
| 2025 | 8.90% | 9.00% | 6.30% |