US public pension profile
Montgomery County (MD) Employees' Retirement System
Funding, investment choices and long-term returns.
Maryland ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 2.6 billion
- Funded ratio
- 86.48%
- Assumed investment return
- 6.75%
Asset allocation in 2025
Returns to 2025
| One year | 12.10% |
|---|---|
| Five years | 6.96% |
| Ten years | 6.11% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 0.7 billion | Not reported | 101.60% | Not reported |
| 2002 | USD 0.6 billion | 31,357 | 102.10% | 8.00% |
| 2003 | USD 0.6 billion | 31,942 | 93.40% | 8.00% |
| 2004 | USD 0.7 billion | 32,666 | 86.80% | 8.00% |
| 2005 | USD 0.7 billion | 33,274 | 80.50% | 8.00% |
| 2006 | USD 0.8 billion | 34,512 | 71.80% | 7.50% |
| 2007 | USD 0.9 billion | 35,131 | 73.50% | 7.50% |
| 2008 | USD 0.9 billion | 36,291 | 74.70% | 7.50% |
| 2009 | USD 0.7 billion | 36,675 | 71.90% | 7.50% |
| 2010 | USD 0.8 billion | 37,124 | 68.90% | 7.50% |
| 2011 | USD 1.0 billion | 37,409 | 70.10% | 7.50% |
| 2012 | USD 1.0 billion | 37,609 | 68.80% | 7.50% |
| 2013 | USD 1.2 billion | 38,125 | 69.01% | 7.50% |
| 2014 | USD 1.4 billion | 39,229 | 75.63% | 7.50% |
| 2015 | USD 1.4 billion | 39,870 | 79.22% | 7.50% |
| 2016 | USD 1.4 billion | 40,980 | 80.99% | 7.50% |
| 2017 | USD 1.6 billion | 42,090 | 75.17% | 7.50% |
| 2018 | USD 1.7 billion | 43,357 | 76.72% | 7.50% |
| 2019 | USD 1.8 billion | 44,563 | 83.54% | 7.00% |
| 2020 | USD 1.8 billion | 45,888 | 84.63% | 7.00% |
| 2021 | USD 2.3 billion | 46,813 | 85.85% | 7.00% |
| 2022 | USD 2.0 billion | 48,494 | 85.84% | 6.75% |
| 2023 | USD 2.2 billion | 49,874 | 84.14% | 6.75% |
| 2024 | USD 2.4 billion | 51,806 | 84.24% | 6.75% |
| 2025 | USD 2.6 billion | Not reported | 86.48% | 6.75% |
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 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2003 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2004 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2005 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2006 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2007 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2008 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2009 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2010 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2011 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2012 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2013 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2014 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2015 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2016 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2017 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2018 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2019 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2020 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2021 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2022 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2023 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2024 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 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 | -8.96% | Not reported | Not reported |
| 2002 | -6.88% | Not reported | Not reported |
| 2003 | 0.78% | Not reported | Not reported |
| 2004 | 15.03% | Not reported | Not reported |
| 2005 | 9.54% | 1.49% | Not reported |
| 2006 | 8.58% | 5.13% | Not reported |
| 2007 | 16.18% | 9.88% | Not reported |
| 2008 | -7.45% | 8.02% | Not reported |
| 2009 | -22.00% | -0.05% | Not reported |
| 2010 | 11.79% | 0.36% | 0.92% |
| 2011 | 20.82% | 2.53% | 3.82% |
| 2012 | 0.48% | -0.41% | 4.61% |
| 2013 | 11.03% | 3.29% | 5.63% |
| 2014 | 15.35% | 11.69% | 5.66% |
| 2015 | 14.38% | 12.20% | 6.12% |
| 2016 | 2.20% | 8.51% | 5.48% |
| 2017 | -0.02% | 8.40% | 3.90% |
| 2018 | 11.90% | 8.57% | 5.90% |
| 2019 | 7.80% | 7.11% | 9.38% |
| 2020 | 4.90% | 5.27% | 8.68% |
| 2021 | 1.20% | 5.07% | 6.77% |
| 2022 | 24.70% | 9.81% | 9.10% |
| 2023 | -8.70% | 5.43% | 6.99% |
| 2024 | 8.40% | 5.55% | 6.33% |
| 2025 | 12.10% | 6.96% | 6.11% |