US public pension profile
Milwaukee County Employees' Retirement System
Funding, investment choices and long-term returns.
Wisconsin ·Fiscal year 2025
Fiscal year 2025 at a glance
- Assumed investment return
- 6.80%
Asset allocation in 2025
Returns to 2025
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 1.5 billion | 13,936 | 108.60% | 9.00% |
| 2002 | USD 1.3 billion | 13,955 | 93.80% | 9.00% |
| 2003 | USD 1.5 billion | 13,719 | 84.70% | 8.50% |
| 2004 | USD 1.6 billion | 13,709 | 79.90% | 8.50% |
| 2005 | USD 1.6 billion | 13,730 | 76.17% | 8.00% |
| 2006 | USD 1.7 billion | 13,601 | 78.99% | 8.00% |
| 2007 | USD 1.7 billion | 13,520 | 80.36% | 8.00% |
| 2008 | USD 1.2 billion | 13,542 | 95.68% | 8.00% |
| 2009 | USD 1.8 billion | 13,759 | 93.28% | 8.00% |
| 2010 | USD 1.9 billion | 13,382 | 92.23% | 8.00% |
| 2011 | USD 1.7 billion | 13,060 | 89.17% | 8.00% |
| 2012 | USD 1.8 billion | 12,997 | 87.32% | 8.00% |
| 2013 | USD 1.9 billion | 13,262 | 85.66% | 8.00% |
| 2014 | USD 1.8 billion | 13,029 | 79.80% | 8.00% |
| 2015 | USD 1.7 billion | 12,997 | 78.11% | 8.00% |
| 2016 | USD 1.7 billion | 12,945 | 77.14% | 8.00% |
| 2017 | USD 1.8 billion | 12,910 | 75.39% | 7.75% |
| 2018 | USD 1.6 billion | 12,780 | 75.52% | 7.75% |
| 2019 | USD 1.7 billion | 12,855 | 74.50% | 7.50% |
| 2020 | USD 1.8 billion | 12,677 | 75.31% | 7.50% |
| 2021 | USD 2.0 billion | 12,459 | 76.63% | 7.50% |
| 2022 | USD 1.7 billion | 12,343 | 77.51% | 7.50% |
| 2023 | USD 1.7 billion | 12,466 | 70.06% | 6.80% |
| 2024 | USD 1.7 billion | 12,424 | 70.36% | 6.80% |
| 2025 | Not reported | Not reported | Not reported | 6.80% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 50.88% | 44.16% | 1.13% | 2.25% | 0.01% | 0.00% |
| 2002 | 47.36% | 46.53% | 1.15% | 2.61% | 0.00% | 0.00% |
| 2003 | 53.14% | 40.82% | 0.97% | 2.89% | 0.00% | 0.00% |
| 2004 | 54.78% | 38.84% | 1.12% | 3.52% | 0.00% | 0.00% |
| 2005 | 55.12% | 35.80% | 1.33% | 3.92% | 0.00% | 0.00% |
| 2006 | 55.51% | 34.57% | 1.48% | 4.98% | 0.00% | 0.00% |
| 2007 | 50.88% | 42.09% | 1.56% | 3.40% | 0.00% | 0.00% |
| 2008 | 42.06% | 51.85% | 1.59% | 2.80% | 0.00% | 0.00% |
| 2009 | 50.58% | 41.41% | 1.51% | 2.88% | 0.00% | 0.00% |
| 2010 | 44.46% | 26.56% | 1.40% | 5.33% | 10.63% | 0.00% |
| 2011 | 42.94% | 24.57% | 1.71% | 7.08% | 10.76% | 0.00% |
| 2012 | 44.76% | 26.33% | 2.95% | 7.53% | 10.72% | 0.00% |
| 2013 | 48.13% | 20.98% | 2.75% | 9.45% | 11.01% | 0.00% |
| 2014 | 46.14% | 19.32% | 4.30% | 10.52% | 10.87% | 0.00% |
| 2015 | 44.32% | 17.85% | 5.60% | 12.12% | 10.85% | 0.00% |
| 2016 | 46.65% | 16.61% | 7.58% | 10.67% | 9.21% | 0.00% |
| 2017 | 46.51% | 14.74% | 9.08% | 10.31% | 9.66% | 0.00% |
| 2018 | 38.38% | 19.73% | 11.67% | 11.66% | 9.21% | 0.00% |
| 2019 | 37.41% | 21.29% | 10.65% | 12.14% | 8.68% | 0.00% |
| 2020 | 38.62% | 18.10% | 8.95% | 15.91% | 8.51% | 0.00% |
| 2021 | 39.16% | 16.28% | 15.68% | 7.59% | 8.29% | 2.90% |
| 2022 | 37.36% | 14.09% | 1.20% | 7.69% | 0.00% | 1.30% |
| 2023 | 38.60% | 17.30% | 17.80% | 6.10% | 6.00% | 2.70% |
| 2024 | 39.86% | 17.48% | 17.38% | 5.30% | 6.29% | 3.10% |
| 2025 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -2.08% | Not reported | Not reported |
| 2002 | -5.40% | Not reported | Not reported |
| 2003 | 25.00% | Not reported | Not reported |
| 2004 | 12.90% | Not reported | Not reported |
| 2005 | 8.30% | 7.20% | Not reported |
| 2006 | 13.50% | 10.41% | Not reported |
| 2007 | 6.30% | 13.02% | Not reported |
| 2008 | -22.10% | 2.82% | Not reported |
| 2009 | 20.40% | 4.15% | Not reported |
| 2010 | 12.10% | 4.87% | 6.03% |
| 2011 | 0.20% | 2.29% | 6.27% |
| 2012 | 11.00% | 3.18% | 7.99% |
| 2013 | 15.20% | 11.58% | 7.11% |
| 2014 | 5.50% | 8.67% | 6.39% |
| 2015 | 2.40% | 6.72% | 5.79% |
| 2016 | 6.90% | 8.11% | 5.16% |
| 2017 | 15.80% | 9.03% | 6.06% |
| 2018 | -2.40% | 5.47% | 8.48% |
| 2019 | 16.00% | 7.49% | 8.08% |
| 2020 | 10.70% | 9.18% | 7.94% |
| 2021 | 16.40% | 11.40% | 9.80% |
| 2022 | -9.40% | 6.20% | 7.60% |
| 2023 | 10.60% | 8.90% | 7.20% |
| 2024 | 8.70% | 7.60% | 7.60% |
| 2025 | Not reported | Not reported | Not reported |