US public pension profile
Milwaukee City 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 3.9 billion | 26,996 | 137.20% | 8.50% |
| 2002 | USD 3.4 billion | 27,051 | 115.20% | 8.50% |
| 2003 | USD 4.1 billion | 26,724 | 116.00% | 8.50% |
| 2004 | USD 4.4 billion | 26,406 | 116.70% | 8.50% |
| 2005 | USD 4.6 billion | 26,715 | 122.90% | 8.50% |
| 2006 | USD 5.1 billion | 26,446 | 127.40% | 8.50% |
| 2007 | USD 5.2 billion | 26,868 | 131.20% | 8.50% |
| 2008 | USD 3.4 billion | 26,806 | 99.10% | 8.50% |
| 2009 | USD 4.0 billion | 26,992 | 112.80% | 8.50% |
| 2010 | USD 4.3 billion | 26,973 | 104.40% | 8.50% |
| 2011 | USD 4.0 billion | 26,854 | 96.00% | 8.50% |
| 2012 | USD 4.4 billion | 26,729 | 90.80% | 8.50% |
| 2013 | USD 5.0 billion | 26,805 | 94.80% | 8.50% |
| 2014 | USD 5.0 billion | 26,840 | 97.20% | 8.50% |
| 2015 | USD 4.8 billion | 27,083 | 96.72% | 8.25% |
| 2016 | USD 4.9 billion | 27,387 | 96.13% | 8.25% |
| 2017 | USD 5.4 billion | 27,176 | 89.93% | 8.00% |
| 2018 | USD 5.0 billion | 28,581 | 81.54% | 7.50% |
| 2019 | USD 5.6 billion | 29,097 | 80.11% | 7.50% |
| 2020 | USD 5.6 billion | 29,198 | 80.66% | 7.50% |
| 2021 | USD 6.4 billion | 29,364 | 83.41% | 7.50% |
| 2022 | USD 5.5 billion | 29,613 | 82.74% | 7.50% |
| 2023 | USD 5.8 billion | 30,111 | 76.74% | 7.50% |
| 2024 | USD 6.0 billion | 29,223 | 76.01% | 7.50% |
| 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 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2002 | 63.40% | 31.80% | 0.00% | 4.80% | 0.00% | 0.00% |
| 2003 | 68.60% | 26.90% | 0.00% | 4.50% | 0.00% | 0.00% |
| 2004 | 68.70% | 27.10% | 0.00% | 4.20% | 0.00% | 0.00% |
| 2005 | 67.50% | 26.70% | 0.00% | 5.80% | 0.00% | 0.00% |
| 2006 | 67.60% | 27.00% | 0.00% | 5.40% | 0.00% | 0.00% |
| 2007 | 64.70% | 27.90% | 0.00% | 7.40% | 0.00% | 0.00% |
| 2008 | 57.80% | 31.90% | 0.00% | 10.30% | 0.00% | 0.00% |
| 2009 | 66.20% | 28.10% | 0.00% | 5.70% | 0.00% | 0.00% |
| 2010 | 67.40% | 26.90% | 0.10% | 5.60% | 0.00% | 0.00% |
| 2011 | 62.60% | 28.70% | 0.40% | 8.30% | 0.00% | 0.00% |
| 2012 | 63.40% | 27.10% | 1.00% | 8.50% | 0.00% | 0.00% |
| 2013 | 65.80% | 25.60% | 1.40% | 7.20% | 0.00% | 0.00% |
| 2014 | 58.00% | 26.80% | 2.40% | 7.60% | 5.20% | 0.00% |
| 2015 | 57.16% | 24.12% | 3.80% | 8.41% | 5.71% | 0.80% |
| 2016 | 55.70% | 20.50% | 5.00% | 7.90% | 8.10% | 0.60% |
| 2017 | 56.00% | 19.60% | 5.80% | 6.30% | 8.80% | 0.20% |
| 2018 | 44.73% | 23.86% | 7.95% | 8.25% | 9.94% | 1.99% |
| 2019 | 47.00% | 23.00% | 8.00% | 0.00% | 10.00% | 1.00% |
| 2020 | 46.00% | 21.00% | 11.00% | 0.00% | 9.00% | 2.00% |
| 2021 | 42.57% | 21.78% | 12.87% | 0.00% | 6.93% | 2.97% |
| 2022 | 42.00% | 20.00% | 13.00% | 0.00% | 11.00% | 1.00% |
| 2023 | 38.00% | 29.00% | 13.00% | 0.00% | 7.00% | 2.00% |
| 2024 | 37.04% | 30.43% | 12.51% | 0.00% | 7.71% | 1.50% |
| 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 | -1.70% | Not reported | Not reported |
| 2002 | -9.20% | Not reported | Not reported |
| 2003 | 27.70% | Not reported | 10.20% |
| 2004 | 12.90% | Not reported | 11.70% |
| 2005 | 8.70% | 6.94% | 10.00% |
| 2006 | 15.40% | 10.43% | 10.10% |
| 2007 | 7.50% | 14.22% | 8.60% |
| 2008 | -30.70% | 1.08% | 3.50% |
| 2009 | 23.60% | 2.93% | 4.40% |
| 2010 | 14.20% | 3.95% | 5.50% |
| 2011 | -1.10% | 0.79% | 5.50% |
| 2012 | 14.20% | 2.01% | 7.90% |
| 2013 | 19.60% | 13.78% | 7.20% |
| 2014 | 5.40% | 10.21% | 6.50% |
| 2015 | 0.50% | 7.43% | 5.70% |
| 2016 | 8.80% | 9.50% | 4.80% |
| 2017 | 16.40% | 9.92% | 5.70% |
| 2018 | -2.90% | 5.40% | 9.52% |
| 2019 | 18.40% | 7.90% | 9.05% |
| 2020 | 6.60% | 9.20% | 8.31% |
| 2021 | 18.90% | 11.10% | 10.32% |
| 2022 | -6.50% | 6.40% | 8.13% |
| 2023 | 10.00% | 9.10% | 7.23% |
| 2024 | 6.80% | 6.90% | 7.38% |
| 2025 | Not reported | Not reported | Not reported |