US public pension profile· KTRS
Teachers’ Retirement System of the State of Kentucky
Funding, investment choices and long-term returns.
Kentucky ·Fiscal year 2025
KTRS: fiscal year 2025 at a glance
- Market value of assets
- USD 28.4 billion
- Funded ratio
- 61.01%
- Assumed investment return
- 7.10%
Asset allocation in 2025
| Public equity | 61.90% |
|---|---|
| Fixed income | 12.50% |
| Private equity | 8.20% |
| Real estate | 6.20% |
| Hedge funds | 0.00% |
| Cash | 0.80% |
Returns to 2025
| One year | 12.34% |
|---|---|
| Five years | 10.12% |
| Ten years | 8.67% |
KTRS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 12.5 billion | 91,041 | 90.80% | 7.50% |
| 2002 | USD 11.8 billion | 93,627 | 86.60% | 7.50% |
| 2003 | USD 12.0 billion | 111,283 | 83.50% | 7.50% |
| 2004 | USD 12.9 billion | 112,906 | 80.90% | 7.50% |
| 2005 | USD 13.5 billion | 113,716 | 76.30% | 7.50% |
| 2006 | USD 13.9 billion | 116,512 | 73.10% | 7.50% |
| 2007 | USD 15.5 billion | 119,148 | 71.90% | 7.50% |
| 2008 | USD 14.1 billion | 121,139 | 68.20% | 7.50% |
| 2009 | USD 11.5 billion | 123,232 | 63.60% | 7.50% |
| 2010 | USD 12.5 billion | 125,158 | 61.00% | 7.50% |
| 2011 | USD 15.1 billion | 126,903 | 57.40% | 7.50% |
| 2012 | USD 14.8 billion | 128,713 | 54.50% | 7.50% |
| 2013 | USD 16.1 billion | 129,431 | 51.92% | 7.50% |
| 2014 | USD 18.1 billion | 157,434 | 53.59% | 7.50% |
| 2015 | USD 18.0 billion | 149,839 | 55.28% | 7.50% |
| 2016 | USD 16.8 billion | 178,706 | 54.63% | 7.50% |
| 2017 | USD 18.7 billion | 176,518 | 56.41% | 7.50% |
| 2018 | USD 20.0 billion | 179,427 | 57.69% | 7.50% |
| 2019 | USD 20.4 billion | 182,891 | 58.12% | 7.50% |
| 2020 | USD 20.7 billion | 186,528 | 58.45% | 7.50% |
| 2021 | USD 25.9 billion | 187,956 | 57.16% | 7.50% |
| 2022 | USD 22.9 billion | 193,550 | 58.80% | 7.10% |
| 2023 | USD 24.2 billion | 198,143 | 58.62% | 7.10% |
| 2024 | USD 26.1 billion | 201,788 | 59.08% | 7.10% |
| 2025 | USD 28.4 billion | Not reported | 61.01% | 7.10% |
KTRS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 52.81% | 36.10% | 0.00% | 3.15% | 0.00% | 7.94% |
| 2002 | 49.48% | 38.76% | 0.00% | 3.30% | 0.00% | 8.46% |
| 2003 | 48.48% | 41.28% | 0.00% | 3.36% | 0.00% | 6.88% |
| 2004 | 55.67% | 33.57% | 0.00% | 3.03% | 0.00% | 7.73% |
| 2005 | 56.16% | 31.36% | 0.00% | 2.98% | 0.00% | 9.50% |
| 2006 | 61.39% | 30.01% | 0.00% | 2.88% | 0.00% | 5.72% |
| 2007 | 65.10% | 28.71% | 0.03% | 2.52% | 0.00% | 3.64% |
| 2008 | 63.90% | 30.80% | 0.70% | 3.00% | 0.00% | 1.60% |
| 2009 | 60.70% | 33.10% | 1.50% | 3.60% | 0.00% | 1.10% |
| 2010 | 59.70% | 33.60% | 1.70% | 3.30% | 0.00% | 1.70% |
| 2011 | 63.50% | 28.60% | 1.20% | 3.10% | 0.00% | 2.40% |
| 2012 | 63.10% | 27.00% | 1.80% | 4.00% | 0.00% | 2.90% |
| 2013 | 63.20% | 27.10% | 2.10% | 4.00% | 0.00% | 2.40% |
| 2014 | 63.20% | 26.80% | 2.60% | 4.10% | 0.00% | 2.30% |
| 2015 | 62.80% | 25.30% | 3.60% | 4.60% | 0.00% | 2.60% |
| 2016 | 62.10% | 25.00% | 4.40% | 5.60% | 0.00% | 1.70% |
| 2017 | 62.80% | 23.90% | 4.60% | 5.60% | 0.00% | 2.00% |
| 2018 | 64.00% | 22.50% | 5.50% | 5.80% | 0.00% | 1.20% |
| 2019 | 61.30% | 24.20% | 5.80% | 6.00% | 0.00% | 1.80% |
| 2020 | 61.90% | 22.70% | 5.90% | 6.00% | 0.00% | 2.30% |
| 2021 | 62.80% | 22.50% | 6.00% | 5.50% | 0.00% | 2.40% |
| 2022 | 55.20% | 25.10% | 8.10% | 7.60% | 0.00% | 1.90% |
| 2023 | 60.40% | 21.30% | 8.00% | 7.40% | 0.00% | 0.90% |
| 2024 | 60.20% | 13.30% | 8.10% | 6.60% | 0.00% | 1.10% |
| 2025 | 61.90% | 12.50% | 8.20% | 6.20% | 0.00% | 0.80% |
KTRS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -0.70% | 10.50% | 10.70% |
| 2002 | -4.10% | 5.70% | 9.00% |
| 2003 | 4.80% | 3.00% | 8.20% |
| 2004 | 9.70% | 2.70% | 9.20% |
| 2005 | 7.50% | 3.30% | 8.30% |
| 2006 | 5.40% | 4.60% | 7.50% |
| 2007 | 15.30% | 8.50% | 7.10% |
| 2008 | -5.70% | 6.20% | 4.60% |
| 2009 | -14.30% | 1.10% | 1.90% |
| 2010 | 13.10% | 2.20% | 2.70% |
| 2011 | 21.60% | 5.10% | 4.80% |
| 2012 | 2.40% | 2.60% | 5.50% |
| 2013 | 14.10% | 6.60% | 6.40% |
| 2014 | 18.10% | 13.70% | 7.20% |
| 2015 | 5.10% | 12.00% | 7.00% |
| 2016 | -1.00% | 7.50% | 6.30% |
| 2017 | 15.37% | 10.09% | 6.29% |
| 2018 | 10.81% | 9.11% | 8.02% |
| 2019 | 5.90% | 7.08% | 10.33% |
| 2020 | 5.80% | 7.23% | 9.59% |
| 2021 | 29.94% | 13.23% | 10.32% |
| 2022 | -10.68% | 7.58% | 8.83% |
| 2023 | 10.61% | 7.54% | 8.49% |
| 2024 | 12.27% | 8.81% | 7.94% |
| 2025 | 12.34% | 10.12% | 8.67% |