US public pension profile· NYCERS
New York City Employees' Retirement System
Funding, investment choices and long-term returns.
New York ·Fiscal year 2025
NYCERS: fiscal year 2025 at a glance
- Market value of assets
- USD 93.1 billion
- Total membership
- 419,206
- Funded ratio
- 82.16%
- Assumed investment return
- 7.00%
Asset allocation in 2025
| Public equity | 42.30% |
|---|---|
| Fixed income | 38.00% |
| Private equity | 12.80% |
| Real estate | 6.90% |
| Hedge funds | 0.00% |
| Cash | 0.00% |
Returns to 2025
| One year | 10.05% |
|---|---|
| Five years | 8.70% |
| Ten years | 7.69% |
NYCERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 37.3 billion | 274,137 | 117.35% | 8.00% |
| 2002 | USD 32.8 billion | 304,803 | 111.97% | 8.00% |
| 2003 | USD 31.5 billion | 306,051 | 104.04% | 8.00% |
| 2004 | USD 34.2 billion | 308,230 | 94.49% | 8.00% |
| 2005 | USD 35.5 billion | 339,538 | 88.44% | 8.00% |
| 2006 | USD 37.3 billion | 344,025 | 82.33% | 8.00% |
| 2007 | USD 42.5 billion | 347,412 | 79.03% | 8.00% |
| 2008 | USD 39.7 billion | 347,357 | 79.67% | 8.00% |
| 2009 | USD 31.9 billion | 347,695 | 78.62% | 8.00% |
| 2010 | USD 35.4 billion | 345,742 | 64.25% | 7.00% |
| 2011 | USD 42.4 billion | 345,372 | 64.98% | 7.00% |
| 2012 | USD 42.7 billion | 350,334 | 66.27% | 7.00% |
| 2013 | USD 47.2 billion | 351,938 | 68.40% | 7.00% |
| 2014 | USD 54.4 billion | 353,058 | 67.92% | 7.00% |
| 2015 | USD 54.9 billion | 356,593 | 69.87% | 7.00% |
| 2016 | USD 55.5 billion | 359,879 | 71.54% | 7.00% |
| 2017 | USD 61.3 billion | 367,808 | 72.24% | 7.00% |
| 2018 | USD 65.2 billion | 394,560 | 74.10% | 7.00% |
| 2019 | USD 68.5 billion | 401,715 | 76.80% | 7.00% |
| 2020 | USD 69.9 billion | 406,204 | 78.07% | 7.00% |
| 2021 | USD 85.9 billion | 406,322 | 81.51% | 7.00% |
| 2022 | USD 77.5 billion | 411,547 | 82.49% | 7.00% |
| 2023 | USD 81.4 billion | 419,206 | 82.16% | 7.00% |
| 2024 | USD 86.9 billion | 419,206 | 82.16% | 7.00% |
| 2025 | USD 93.1 billion | 419,206 | 82.16% | 7.00% |
NYCERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 64.10% | 35.70% | 0.20% | 0.00% | 0.00% | 0.00% |
| 2002 | 65.50% | 34.20% | 0.30% | 0.00% | 0.00% | 0.00% |
| 2003 | 67.90% | 31.50% | 0.60% | 0.00% | 0.00% | 0.00% |
| 2004 | 69.50% | 29.70% | 0.80% | 0.00% | 0.00% | 0.00% |
| 2005 | 72.22% | 23.64% | 1.31% | 0.00% | 0.00% | 2.83% |
| 2006 | 71.80% | 24.90% | 1.90% | 0.00% | 0.00% | 1.40% |
| 2007 | 70.10% | 24.20% | 3.70% | 0.00% | 0.00% | 2.00% |
| 2008 | 64.90% | 26.70% | 6.40% | 0.00% | 0.00% | 2.00% |
| 2009 | 59.46% | 29.53% | 9.41% | 0.00% | 0.00% | 1.60% |
| 2010 | 59.46% | 24.82% | 10.61% | 0.00% | 0.00% | 5.10% |
| 2011 | 58.86% | 22.62% | 11.21% | 0.00% | 0.00% | 7.31% |
| 2012 | 54.45% | 25.63% | 12.81% | 0.00% | 1.80% | 5.30% |
| 2013 | 55.86% | 24.92% | 12.91% | 0.00% | 2.90% | 3.40% |
| 2014 | 57.40% | 23.00% | 12.80% | 0.00% | 3.00% | 3.80% |
| 2015 | 53.70% | 25.70% | 13.40% | 0.00% | 2.80% | 4.40% |
| 2016 | 50.60% | 31.30% | 16.00% | 0.00% | 2.10% | 0.00% |
| 2017 | 53.70% | 31.10% | 15.10% | 0.00% | 0.10% | 0.00% |
| 2018 | 57.00% | 27.50% | 15.40% | 0.00% | 0.10% | 0.00% |
| 2019 | 50.20% | 37.70% | 6.90% | 5.20% | 0.00% | 0.00% |
| 2020 | 48.90% | 38.70% | 6.80% | 5.60% | 0.00% | 0.00% |
| 2021 | 49.30% | 36.80% | 7.60% | 5.10% | 0.00% | 0.00% |
| 2022 | 43.10% | 37.00% | 10.50% | 7.40% | 0.00% | 0.00% |
| 2023 | 45.00% | 34.80% | 12.90% | 7.30% | 0.00% | 0.00% |
| 2024 | 41.20% | 38.50% | 13.50% | 6.80% | 0.00% | 0.00% |
| 2025 | 42.30% | 38.00% | 12.80% | 6.90% | 0.00% | 0.00% |
NYCERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -8.30% | 11.08% | 12.35% |
| 2002 | -8.64% | 5.57% | 9.82% |
| 2003 | 3.94% | 1.57% | 8.69% |
| 2004 | 16.30% | 2.07% | 10.13% |
| 2005 | 9.22% | 2.04% | Not reported |
| 2006 | 9.83% | 5.79% | 8.40% |
| 2007 | 18.39% | 11.42% | 8.04% |
| 2008 | -4.96% | 9.44% | 5.43% |
| 2009 | -18.18% | 2.01% | 2.04% |
| 2010 | 14.09% | 2.90% | 2.46% |
| 2011 | 23.12% | 5.27% | 5.53% |
| 2012 | 1.32% | 2.05% | 6.63% |
| 2013 | 12.24% | 5.50% | 7.45% |
| 2014 | 17.04% | 13.33% | 7.52% |
| 2015 | 3.11% | 11.12% | 6.93% |
| 2016 | 1.52% | 6.96% | 6.12% |
| 2017 | 12.99% | 9.37% | 5.65% |
| 2018 | 8.56% | 8.69% | 7.08% |
| 2019 | 7.13% | 6.83% | 10.03% |
| 2020 | 3.58% | 6.91% | 9.00% |
| 2021 | 26.63% | 11.76% | 9.34% |
| 2022 | -8.39% | 6.92% | 8.30% |
| 2023 | 8.18% | 6.85% | 7.95% |
| 2024 | 9.88% | 7.39% | 6.99% |
| 2025 | 10.05% | 8.70% | 7.69% |