US public pension profile· Georgia ERS
Employees’ Retirement System of Georgia
Funding, investment choices and long-term returns.
Georgia ·Fiscal year 2025
Georgia ERS: fiscal year 2025 at a glance
- Market value of assets
- USD 18.6 billion
- Total membership
- 187,552
- Funded ratio
- 75.87%
- Assumed investment return
- 7.00%
Asset allocation in 2025
| Public equity | 62.80% |
|---|---|
| Fixed income | 34.30% |
| Private equity | 2.80% |
| Real estate | 0.10% |
| Hedge funds | 0.00% |
| Cash | 0.00% |
Returns to 2025
| One year | 12.01% |
|---|---|
| Five years | 10.18% |
| Ten years | 8.59% |
Georgia ERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 12.3 billion | 152,738 | 101.70% | 7.00% |
| 2002 | USD 11.6 billion | 158,815 | 101.10% | 7.00% |
| 2003 | USD 11.7 billion | 158,346 | 100.50% | 7.25% |
| 2004 | USD 12.4 billion | 161,990 | 97.60% | 7.50% |
| 2005 | USD 12.8 billion | 167,133 | 97.20% | 7.50% |
| 2006 | USD 13.0 billion | 172,947 | 94.50% | 7.50% |
| 2007 | USD 14.4 billion | 175,123 | 93.00% | 7.50% |
| 2008 | USD 13.2 billion | 179,687 | 89.40% | 7.50% |
| 2009 | USD 10.6 billion | 175,273 | 85.70% | 7.50% |
| 2010 | USD 11.0 billion | 175,438 | 80.10% | 7.50% |
| 2011 | USD 12.3 billion | 179,208 | 76.00% | 7.50% |
| 2012 | USD 11.6 billion | 182,538 | 73.10% | 7.50% |
| 2013 | USD 12.2 billion | 184,864 | 71.40% | 7.50% |
| 2014 | USD 13.3 billion | 187,836 | 72.84% | 7.50% |
| 2015 | USD 13.0 billion | 192,242 | 74.13% | 7.50% |
| 2016 | USD 12.4 billion | 166,026 | 74.74% | 7.50% |
| 2017 | USD 13.1 billion | 167,710 | 74.73% | 7.40% |
| 2018 | USD 13.5 billion | 169,402 | 75.30% | 7.30% |
| 2019 | USD 13.6 billion | 171,866 | 75.61% | 7.30% |
| 2020 | USD 13.5 billion | 173,586 | 73.77% | 7.30% |
| 2021 | USD 16.5 billion | 173,967 | 71.61% | 7.20% |
| 2022 | USD 13.8 billion | 177,541 | 72.22% | 7.20% |
| 2023 | USD 14.7 billion | 183,098 | 71.95% | 7.20% |
| 2024 | USD 16.7 billion | 187,552 | 75.87% | 7.00% |
| 2025 | USD 18.6 billion | 187,552 | 75.87% | 7.00% |
Georgia ERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 57.00% | 43.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2002 | 54.10% | 45.90% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2003 | 51.50% | 48.50% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2004 | 58.90% | 41.10% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2005 | 59.60% | 40.40% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2006 | 58.60% | 41.40% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2007 | 59.50% | 40.50% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2008 | 55.60% | 44.40% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2009 | 52.30% | 47.70% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2010 | 59.40% | 40.60% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2011 | 67.20% | 32.80% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2012 | 65.90% | 34.10% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2013 | 68.10% | 31.90% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2014 | 67.20% | 32.80% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2015 | 65.30% | 34.70% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2016 | 62.30% | 37.70% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2017 | 63.90% | 36.10% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2018 | 61.90% | 36.90% | 1.20% | 0.00% | 0.00% | 0.00% |
| 2019 | 61.10% | 37.10% | 1.80% | 0.00% | 0.00% | 0.00% |
| 2020 | 60.90% | 37.10% | 2.00% | 0.00% | 0.00% | 0.00% |
| 2021 | 63.20% | 34.50% | 2.30% | 0.00% | 0.00% | 0.00% |
| 2022 | 59.50% | 37.20% | 3.30% | 0.00% | 0.00% | 0.00% |
| 2023 | 61.20% | 35.50% | 3.30% | 0.00% | 0.00% | 0.00% |
| 2024 | 63.00% | 33.90% | 3.10% | 0.00% | 0.00% | 0.00% |
| 2025 | 62.80% | 34.30% | 2.80% | 0.10% | 0.00% | 0.00% |
Georgia ERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -6.02% | Not reported | Not reported |
| 2002 | -4.00% | 5.70% | Not reported |
| 2003 | 4.50% | 2.30% | Not reported |
| 2004 | 9.80% | 2.10% | Not reported |
| 2005 | 7.80% | 2.20% | Not reported |
| 2006 | 6.20% | 4.70% | Not reported |
| 2007 | 14.70% | 8.50% | Not reported |
| 2008 | -3.50% | 6.80% | Not reported |
| 2009 | -13.00% | 2.00% | Not reported |
| 2010 | 10.99% | 2.60% | 2.39% |
| 2011 | 21.29% | 5.34% | 5.04% |
| 2012 | 2.19% | 2.93% | 5.70% |
| 2013 | 13.33% | 6.30% | 6.56% |
| 2014 | 17.29% | 12.83% | 7.26% |
| 2015 | 3.74% | 11.32% | 6.86% |
| 2016 | 1.40% | 7.40% | 6.40% |
| 2017 | 12.40% | 9.50% | 6.20% |
| 2018 | 9.20% | 8.70% | 7.50% |
| 2019 | 6.90% | 6.66% | 9.70% |
| 2020 | 5.48% | 7.02% | 9.15% |
| 2021 | 29.36% | 12.36% | 9.85% |
| 2022 | -11.71% | 7.05% | 8.26% |
| 2023 | 11.29% | 7.46% | 8.06% |
| 2024 | 14.07% | 8.87% | 7.76% |
| 2025 | 12.01% | 10.18% | 8.59% |