US public pension profile· PEERS
Public Education Employee Retirement System of Missouri
Funding, investment choices and long-term returns.
Missouri ·Fiscal year 2025
PEERS: fiscal year 2025 at a glance
- Market value of assets
- USD 7.6 billion
- Total membership
- 150,862
- Funded ratio
- 89.86%
- Assumed investment return
- 7.30%
Asset allocation in 2025
| Public equity | 44.60% |
|---|---|
| Fixed income | 12.80% |
| Private equity | 16.90% |
| Real estate | 10.10% |
| Hedge funds | 13.60% |
| Cash | 2.00% |
Returns to 2025
| One year | 10.90% |
|---|---|
| Five years | 10.30% |
| Ten years | 8.50% |
PEERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 1.6 billion | 73,181 | 103.10% | 8.00% |
| 2002 | USD 1.6 billion | 76,911 | 97.60% | 8.00% |
| 2003 | USD 1.7 billion | 79,351 | 81.90% | 8.00% |
| 2004 | USD 1.9 billion | 80,162 | 82.70% | 8.00% |
| 2005 | USD 2.1 billion | 81,111 | 83.30% | 8.00% |
| 2006 | USD 2.3 billion | 82,872 | 80.50% | 8.00% |
| 2007 | USD 2.7 billion | 84,234 | 83.20% | 8.00% |
| 2008 | USD 2.6 billion | 85,776 | 82.50% | 8.00% |
| 2009 | USD 2.1 billion | 86,667 | 80.70% | 8.00% |
| 2010 | USD 2.4 billion | 85,789 | 79.10% | 8.00% |
| 2011 | USD 2.9 billion | 85,530 | 85.30% | 8.00% |
| 2012 | USD 3.0 billion | 85,719 | 82.50% | 8.00% |
| 2013 | USD 3.3 billion | 86,822 | 81.60% | 8.00% |
| 2014 | USD 3.8 billion | 102,018 | 85.12% | 8.00% |
| 2015 | USD 4.0 billion | 104,188 | 86.77% | 8.00% |
| 2016 | USD 4.0 billion | 107,011 | 86.44% | 7.75% |
| 2017 | USD 4.4 billion | 110,107 | 85.81% | 7.60% |
| 2018 | USD 4.8 billion | 114,318 | 86.15% | 7.50% |
| 2019 | USD 5.0 billion | 118,313 | 86.41% | 7.50% |
| 2020 | USD 5.1 billion | 122,389 | 86.34% | 7.50% |
| 2021 | USD 6.5 billion | 125,491 | 87.74% | 7.30% |
| 2022 | USD 6.2 billion | 131,497 | 87.35% | 7.30% |
| 2023 | USD 6.4 billion | 138,455 | 87.27% | 7.30% |
| 2024 | USD 6.9 billion | 144,991 | 88.11% | 7.30% |
| 2025 | USD 7.6 billion | 150,862 | 89.86% | 7.30% |
PEERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 52.20% | 45.90% | 0.00% | 0.00% | 0.00% | 1.90% |
| 2002 | 48.60% | 43.50% | 0.00% | 0.00% | 0.00% | 2.60% |
| 2003 | 51.30% | 40.00% | 0.00% | 0.00% | 0.00% | 3.50% |
| 2004 | 57.30% | 33.50% | 0.00% | 0.00% | 0.00% | 1.70% |
| 2005 | 57.30% | 30.60% | 0.10% | 0.70% | 0.00% | 3.80% |
| 2006 | 58.90% | 27.90% | 0.50% | 3.00% | 0.00% | 2.90% |
| 2007 | 58.50% | 23.70% | 1.40% | 3.90% | 0.50% | 2.60% |
| 2008 | 53.70% | 20.90% | 3.50% | 5.20% | 3.00% | 1.90% |
| 2009 | 50.10% | 27.00% | 4.50% | 5.10% | 10.60% | 2.70% |
| 2010 | 45.00% | 30.50% | 6.80% | 4.40% | 9.60% | 3.70% |
| 2011 | 47.65% | 25.47% | 7.19% | 5.79% | 13.79% | 0.10% |
| 2012 | 45.26% | 24.28% | 8.29% | 7.39% | 14.58% | 0.20% |
| 2013 | 48.00% | 21.50% | 8.20% | 7.70% | 14.10% | 0.50% |
| 2014 | 48.20% | 20.10% | 8.00% | 7.00% | 13.50% | 3.20% |
| 2015 | 45.70% | 22.10% | 8.30% | 7.20% | 14.10% | 2.60% |
| 2016 | 46.05% | 22.18% | 8.69% | 7.89% | 13.39% | 1.80% |
| 2017 | 46.90% | 21.90% | 9.10% | 7.60% | 12.10% | 2.40% |
| 2018 | 46.15% | 20.48% | 10.49% | 7.59% | 11.89% | 3.40% |
| 2019 | 44.50% | 19.80% | 12.40% | 8.10% | 11.80% | 3.40% |
| 2020 | 42.60% | 22.10% | 14.60% | 8.60% | 9.80% | 2.30% |
| 2021 | 43.10% | 19.00% | 18.80% | 7.90% | 9.00% | 2.20% |
| 2022 | 37.90% | 17.50% | 22.60% | 11.00% | 9.10% | 1.90% |
| 2023 | 42.70% | 13.20% | 18.00% | 10.30% | 13.70% | 2.10% |
| 2024 | 44.40% | 12.50% | 17.40% | 9.60% | 13.40% | 2.70% |
| 2025 | 44.60% | 12.80% | 16.90% | 10.10% | 13.60% | 2.00% |
PEERS: 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% | 10.50% | Not reported |
| 2002 | -2.80% | 6.00% | Not reported |
| 2003 | 4.70% | 3.50% | Not reported |
| 2004 | 12.10% | 3.90% | Not reported |
| 2005 | 9.30% | 4.20% | Not reported |
| 2006 | 9.80% | 6.50% | Not reported |
| 2007 | 16.60% | 10.43% | 8.18% |
| 2008 | -4.60% | 8.40% | Not reported |
| 2009 | -18.90% | 1.60% | Not reported |
| 2010 | 12.70% | 2.20% | 3.19% |
| 2011 | 21.40% | 4.30% | 5.40% |
| 2012 | 1.60% | 1.50% | 5.80% |
| 2013 | 12.30% | 4.80% | 6.60% |
| 2014 | 16.90% | 13.10% | 7.10% |
| 2015 | 4.50% | 11.30% | 6.60% |
| 2016 | 1.80% | 7.40% | 5.80% |
| 2017 | 12.50% | 9.50% | 5.50% |
| 2018 | 8.90% | 8.80% | 6.90% |
| 2019 | 7.00% | 6.90% | 9.90% |
| 2020 | 3.90% | 6.80% | 9.00% |
| 2021 | 28.70% | 11.90% | 9.60% |
| 2022 | -2.80% | 8.60% | 9.10% |
| 2023 | 6.40% | 8.10% | 8.50% |
| 2024 | 10.80% | 8.90% | 7.90% |
| 2025 | 10.90% | 10.30% | 8.50% |