US public pension profile· Illinois SERS
State Employees' Retirement System of Illinois
Funding, investment choices and long-term returns.
Illinois ·Fiscal year 2025
Illinois SERS: fiscal year 2025 at a glance
- Market value of assets
- USD 27.6 billion
- Total membership
- 185,008
- Funded ratio
- 46.92%
- Assumed investment return
- 6.75%
Asset allocation in 2025
| Public equity | 51.00% |
|---|---|
| Fixed income | 16.00% |
| Private equity | 10.00% |
| Real estate | 10.00% |
| Hedge funds | 9.00% |
| Cash | 1.00% |
Returns to 2025
| One year | 9.80% |
|---|---|
| Five years | 8.50% |
| Ten years | 7.30% |
Illinois SERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 8.3 billion | 145,964 | 65.80% | 8.50% |
| 2002 | USD 7.7 billion | 148,641 | 53.70% | 8.50% |
| 2003 | USD 7.5 billion | 148,176 | 42.60% | 8.50% |
| 2004 | USD 10.0 billion | 147,906 | 54.20% | 8.50% |
| 2005 | USD 10.5 billion | 146,531 | 54.40% | 8.50% |
| 2006 | USD 10.9 billion | 144,603 | 52.20% | 8.50% |
| 2007 | USD 12.1 billion | 144,863 | 54.21% | 8.50% |
| 2008 | USD 11.0 billion | 144,027 | 46.12% | 8.50% |
| 2009 | USD 8.5 billion | 143,837 | 43.48% | 8.50% |
| 2010 | USD 9.2 billion | 143,319 | 37.40% | 7.75% |
| 2011 | USD 11.0 billion | 147,716 | 35.55% | 7.75% |
| 2012 | USD 11.0 billion | 148,331 | 34.68% | 7.75% |
| 2013 | USD 12.4 billion | 150,826 | 34.21% | 7.75% |
| 2014 | USD 14.6 billion | 153,857 | 33.69% | 7.75% |
| 2015 | USD 15.3 billion | 156,767 | 36.18% | 7.25% |
| 2016 | USD 15.0 billion | 157,681 | 34.35% | 7.00% |
| 2017 | USD 16.5 billion | 157,375 | 35.46% | 7.00% |
| 2018 | USD 17.5 billion | 159,519 | 36.47% | 7.00% |
| 2019 | USD 18.5 billion | 162,321 | 37.82% | 6.75% |
| 2020 | USD 19.2 billion | 165,400 | 38.67% | 6.75% |
| 2021 | USD 23.9 billion | 166,688 | 41.14% | 6.75% |
| 2022 | USD 22.2 billion | 168,770 | 43.98% | 6.75% |
| 2023 | USD 23.4 billion | 172,809 | 44.65% | 6.75% |
| 2024 | USD 25.3 billion | 179,869 | 45.84% | 6.75% |
| 2025 | USD 27.6 billion | 185,008 | 46.92% | 6.75% |
Illinois SERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 64.00% | 26.00% | 6.00% | 4.00% | 0.00% | 0.00% |
| 2002 | 62.00% | 28.00% | 5.00% | 5.00% | 0.00% | 0.00% |
| 2003 | 64.00% | 22.00% | 6.00% | 8.00% | 0.00% | 0.00% |
| 2004 | 62.00% | 28.00% | 4.00% | 6.00% | 0.00% | 0.00% |
| 2005 | 60.00% | 29.00% | 4.00% | 7.00% | 0.00% | 0.00% |
| 2006 | 57.00% | 25.00% | 4.00% | 10.00% | 4.00% | 0.00% |
| 2007 | 59.00% | 22.00% | 5.00% | 10.00% | 4.00% | 0.00% |
| 2008 | 54.00% | 22.00% | 7.00% | 12.00% | 5.00% | 0.00% |
| 2009 | 47.00% | 25.00% | 8.00% | 10.00% | 10.00% | 0.00% |
| 2010 | 47.00% | 25.00% | 8.00% | 10.00% | 10.00% | 0.00% |
| 2011 | 47.00% | 25.00% | 8.00% | 10.00% | 10.00% | 0.00% |
| 2012 | 47.00% | 25.00% | 10.00% | 9.00% | 9.00% | 0.00% |
| 2013 | 48.00% | 24.00% | 9.00% | 10.00% | 9.00% | 0.00% |
| 2014 | 46.00% | 27.00% | 4.00% | 10.00% | 10.00% | 0.00% |
| 2015 | 45.00% | 28.00% | 4.00% | 10.00% | 10.00% | 0.00% |
| 2016 | 41.00% | 32.00% | 4.00% | 11.00% | 8.00% | 0.00% |
| 2017 | 44.00% | 35.00% | 4.00% | 9.00% | 5.00% | 0.00% |
| 2018 | 41.00% | 42.00% | 4.00% | 9.00% | 2.00% | 0.00% |
| 2019 | 49.00% | 31.00% | 4.00% | 9.00% | 4.00% | 1.00% |
| 2020 | 48.00% | 31.00% | 5.00% | 10.00% | 4.00% | 1.00% |
| 2021 | 50.00% | 27.00% | 7.00% | 9.00% | 5.00% | 1.00% |
| 2022 | 43.00% | 27.00% | 9.00% | 12.00% | 6.00% | 1.00% |
| 2023 | 45.00% | 23.00% | 11.00% | 11.00% | 7.00% | 1.00% |
| 2024 | 45.00% | 23.00% | 11.00% | 10.00% | 8.00% | 1.00% |
| 2025 | 51.00% | 16.00% | 10.00% | 10.00% | 9.00% | 1.00% |
Illinois SERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -7.10% | 10.50% | Not reported |
| 2002 | -6.90% | 5.20% | Not reported |
| 2003 | 0.30% | 1.80% | Not reported |
| 2004 | 16.40% | 2.50% | Not reported |
| 2005 | 10.10% | 2.10% | Not reported |
| 2006 | 11.00% | 5.80% | Not reported |
| 2007 | 17.10% | 10.80% | Not reported |
| 2008 | -6.20% | 19.30% | Not reported |
| 2009 | -20.10% | 1.40% | Not reported |
| 2010 | 9.10% | 1.20% | 1.68% |
| 2011 | 21.70% | 3.10% | 4.47% |
| 2012 | 0.10% | -0.10% | 5.23% |
| 2013 | 14.10% | 3.90% | 6.59% |
| 2014 | 17.90% | 12.30% | 6.73% |
| 2015 | 4.70% | 11.40% | 6.20% |
| 2016 | -0.80% | 6.90% | 5.00% |
| 2017 | 12.30% | 9.40% | 4.60% |
| 2018 | 7.60% | 8.10% | 6.00% |
| 2019 | 7.10% | 6.10% | 9.20% |
| 2020 | 4.60% | 6.10% | 8.70% |
| 2021 | 25.80% | 11.20% | 9.10% |
| 2022 | -6.30% | 7.30% | 8.30% |
| 2023 | 6.20% | 7.00% | 7.60% |
| 2024 | 9.30% | 7.40% | 6.80% |
| 2025 | 9.80% | 8.50% | 7.30% |