US public pension profile
Fairfax County Uniformed
Funding, investment choices and long-term returns.
Virginia ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 2.4 billion
- Total membership
- 3,928
- Funded ratio
- 77.11%
- Assumed investment return
- 6.75%
Asset allocation in 2025
| Public equity | 52.11% |
|---|---|
| Fixed income | 24.10% |
| Private equity | 0.00% |
| Real estate | 0.00% |
| Hedge funds | 11.37% |
| Cash | 1.05% |
Returns to 2025
| One year | 10.10% |
|---|---|
| Five years | 8.40% |
| 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 | 2,274 | 102.26% | 7.50% |
| 2002 | USD 0.6 billion | 2,312 | 95.30% | 7.50% |
| 2003 | USD 0.7 billion | 2,381 | 90.00% | 7.50% |
| 2004 | USD 0.8 billion | 2,486 | 87.10% | 7.50% |
| 2005 | USD 0.8 billion | 2,530 | 85.25% | 7.50% |
| 2006 | USD 0.9 billion | 2,756 | 83.56% | 7.50% |
| 2007 | USD 1.1 billion | 2,851 | 85.23% | 7.50% |
| 2008 | USD 1.1 billion | 2,940 | 85.40% | 7.50% |
| 2009 | USD 0.9 billion | 3,058 | 79.50% | 7.50% |
| 2010 | USD 1.0 billion | 3,050 | 76.71% | 7.50% |
| 2011 | USD 1.2 billion | 3,089 | 77.68% | 7.50% |
| 2012 | USD 1.2 billion | 3,142 | 77.30% | 7.50% |
| 2013 | USD 1.3 billion | 3,190 | 79.10% | 7.50% |
| 2014 | USD 1.5 billion | 3,186 | 81.73% | 7.50% |
| 2015 | USD 1.5 billion | 3,303 | 84.04% | 7.50% |
| 2016 | USD 1.5 billion | 3,388 | 82.52% | 7.25% |
| 2017 | USD 1.6 billion | 3,475 | 82.78% | 7.25% |
| 2018 | USD 1.8 billion | 3,528 | 83.65% | 7.25% |
| 2019 | USD 1.8 billion | 3,567 | 84.15% | 7.25% |
| 2020 | USD 1.8 billion | 3,629 | 82.66% | 7.25% |
| 2021 | USD 2.2 billion | 3,652 | 84.73% | 7.25% |
| 2022 | USD 1.9 billion | 3,711 | 78.16% | 6.75% |
| 2023 | USD 2.0 billion | 3,776 | 77.66% | 6.75% |
| 2024 | USD 2.2 billion | 3,812 | 76.36% | 6.75% |
| 2025 | USD 2.4 billion | 3,928 | 77.11% | 6.75% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 56.26% | 42.84% | 0.10% | 0.00% | 0.00% | 0.80% |
| 2002 | 56.30% | 39.70% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2003 | 57.60% | 36.30% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2004 | 62.10% | 31.60% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2005 | 60.50% | 32.12% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2006 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2007 | 63.09% | 23.07% | 0.00% | 5.52% | 0.00% | 0.00% |
| 2008 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2009 | 26.26% | 58.93% | 0.00% | 4.51% | 0.00% | 0.43% |
| 2010 | 49.20% | 35.20% | 0.00% | 4.80% | 0.00% | 0.00% |
| 2011 | 47.70% | 29.50% | 0.00% | 6.50% | 0.00% | 0.00% |
| 2012 | 42.30% | 30.80% | 0.00% | 6.90% | 0.00% | 0.00% |
| 2013 | 31.10% | 32.20% | 0.00% | 6.90% | 8.60% | 0.00% |
| 2014 | 17.60% | 25.40% | 2.30% | 6.80% | 18.60% | 8.10% |
| 2015 | 17.00% | 26.00% | 2.30% | 8.00% | 19.30% | 6.20% |
| 2016 | 12.79% | 27.87% | 2.20% | 9.29% | 19.58% | 7.69% |
| 2017 | 23.20% | 26.00% | 2.20% | 0.00% | 12.60% | 6.70% |
| 2018 | 26.37% | 24.78% | 0.00% | 0.00% | 29.67% | 7.39% |
| 2019 | 25.30% | 27.20% | 0.00% | 0.00% | 29.20% | 6.90% |
| 2020 | 26.50% | 26.10% | 0.00% | 0.00% | 25.80% | 11.90% |
| 2021 | 31.90% | 26.10% | 0.00% | 0.00% | 24.90% | 8.00% |
| 2022 | 40.20% | 27.60% | 0.00% | 0.00% | 16.10% | 2.90% |
| 2023 | 37.60% | 26.00% | 0.00% | 0.00% | 14.30% | 7.50% |
| 2024 | 49.30% | 23.60% | 0.00% | 0.00% | 11.50% | 4.10% |
| 2025 | 52.11% | 24.10% | 0.00% | 0.00% | 11.37% | 1.05% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -2.60% | 9.20% | 10.50% |
| 2002 | -4.60% | 4.70% | 8.50% |
| 2003 | 2.92% | 2.71% | 7.83% |
| 2004 | 15.00% | 3.60% | 9.20% |
| 2005 | 11.00% | 4.70% | 8.80% |
| 2006 | 11.20% | 7.50% | 8.40% |
| 2007 | 18.40% | 12.20% | 8.40% |
| 2008 | -2.10% | 10.50% | 6.50% |
| 2009 | -19.60% | 2.80% | 3.20% |
| 2010 | 16.00% | 3.70% | 4.20% |
| 2011 | 24.70% | 6.10% | 6.80% |
| 2012 | 0.10% | 2.60% | 7.30% |
| 2013 | 10.50% | 5.10% | 7.20% |
| 2014 | 16.50% | 13.30% | 7.90% |
| 2015 | 1.80% | 10.30% | 7.00% |
| 2016 | -0.60% | 5.40% | 5.80% |
| 2017 | 11.50% | 7.70% | 5.20% |
| 2018 | 8.10% | 7.00% | 5.80% |
| 2019 | 4.50% | 4.70% | 8.70% |
| 2020 | -1.30% | 4.20% | 7.00% |
| 2021 | 25.40% | 9.20% | 7.10% |
| 2022 | -9.00% | 4.90% | 6.10% |
| 2023 | 8.10% | 4.90% | 5.90% |
| 2024 | 10.30% | 6.10% | 5.40% |
| 2025 | 10.10% | 8.40% | 6.30% |