US public pension profile
New York City Fire Dept Article 1B Pension Fund
Funding, investment choices and long-term returns.
New York ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 22.1 billion
- Total membership
- 27,651
- Funded ratio
- 72.38%
- Assumed investment return
- 7.00%
Asset allocation in 2025
Returns to 2025
| One year | 9.92% |
|---|---|
| Five years | 8.49% |
| Ten years | 7.75% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 5.7 billion | 27,488 | 84.67% | Not reported |
| 2002 | USD 4.8 billion | 27,446 | 80.46% | Not reported |
| 2003 | USD 4.9 billion | 28,269 | 74.06% | Not reported |
| 2004 | USD 5.4 billion | 28,698 | 63.94% | Not reported |
| 2005 | USD 5.7 billion | 28,913 | 60.30% | Not reported |
| 2006 | USD 6.2 billion | 29,181 | 55.80% | Not reported |
| 2007 | USD 7.2 billion | 29,070 | 55.10% | 8.00% |
| 2008 | USD 6.8 billion | 29,063 | 56.40% | 8.00% |
| 2009 | USD 5.6 billion | 28,787 | 56.80% | 8.00% |
| 2010 | USD 6.4 billion | 28,276 | 48.20% | 7.00% |
| 2011 | USD 8.0 billion | 27,713 | 50.30% | 7.00% |
| 2012 | USD 8.1 billion | 27,226 | 52.30% | 7.00% |
| 2013 | USD 9.1 billion | 27,039 | 54.30% | 8.00% |
| 2014 | USD 10.6 billion | 27,138 | 55.42% | 8.00% |
| 2015 | USD 10.8 billion | 27,540 | 56.21% | 7.00% |
| 2016 | USD 10.9 billion | 27,677 | 55.07% | 7.00% |
| 2017 | USD 12.1 billion | 27,800 | 56.41% | 7.00% |
| 2018 | USD 13.3 billion | 27,933 | 59.10% | 7.00% |
| 2019 | USD 14.3 billion | 27,967 | 62.82% | 7.00% |
| 2020 | USD 15.1 billion | 27,767 | 64.22% | 7.00% |
| 2021 | USD 18.9 billion | 27,435 | 69.46% | 7.00% |
| 2022 | USD 17.5 billion | 27,473 | 71.61% | 7.00% |
| 2023 | USD 18.7 billion | 27,651 | 72.38% | 7.00% |
| 2024 | USD 20.3 billion | 27,651 | 72.38% | 7.00% |
| 2025 | USD 22.1 billion | 27,651 | 72.38% | 7.00% |
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 | 67.97% | 27.11% | 1.80% | 3.12% | 0.00% | 0.00% |
| 2005 | 61.38% | 31.96% | 2.37% | 4.29% | 0.00% | 0.00% |
| 2006 | 65.08% | 28.32% | 2.44% | 4.16% | 0.00% | 0.00% |
| 2007 | 65.65% | 27.45% | 2.46% | 4.35% | 0.00% | 0.00% |
| 2008 | Not reported | Not reported | Not reported | Not reported | Not reported | Not reported |
| 2009 | 55.95% | 32.20% | 5.19% | 3.84% | 0.00% | 2.82% |
| 2010 | 56.53% | 31.59% | 6.11% | 4.93% | 0.00% | 0.84% |
| 2011 | 55.70% | 25.22% | 6.24% | 6.38% | 0.00% | 6.45% |
| 2012 | 50.48% | 29.70% | 7.18% | 7.34% | 2.28% | 3.03% |
| 2013 | 52.80% | 28.75% | 6.46% | 7.24% | 3.28% | 1.46% |
| 2014 | 52.66% | 28.50% | 6.40% | 7.31% | 3.50% | 1.63% |
| 2015 | 47.12% | 30.95% | 6.81% | 7.08% | 3.58% | 4.30% |
| 2016 | 46.68% | 32.63% | 7.32% | 7.97% | 3.60% | 1.55% |
| 2017 | 48.72% | 31.39% | 6.89% | 6.11% | 5.41% | 1.16% |
| 2018 | 44.92% | 35.53% | 6.73% | 5.33% | 5.19% | 1.78% |
| 2019 | 45.41% | 33.45% | 6.46% | 5.46% | 5.86% | 2.49% |
| 2020 | 45.69% | 32.93% | 6.10% | 5.66% | 6.30% | 2.30% |
| 2021 | 47.77% | 34.71% | 6.72% | 4.23% | 4.94% | 0.60% |
| 2022 | 41.38% | 34.69% | 9.52% | 6.40% | 4.91% | 1.53% |
| 2023 | 43.38% | 32.98% | 9.31% | 6.30% | 5.09% | 0.94% |
| 2024 | 43.46% | 32.82% | 9.34% | 5.80% | 5.06% | 1.28% |
| 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 | -7.40% | Not reported | Not reported |
| 2002 | -11.22% | Not reported | Not reported |
| 2003 | 6.46% | Not reported | Not reported |
| 2004 | 16.93% | 2.08% | 9.75% |
| 2005 | 10.88% | 2.57% | 9.03% |
| 2006 | 10.35% | 6.38% | 8.35% |
| 2007 | 18.29% | 12.00% | 7.97% |
| 2008 | -4.55% | 10.07% | Not reported |
| 2009 | -18.78% | 2.20% | 2.14% |
| 2010 | 14.70% | 2.89% | 2.73% |
| 2011 | 23.15% | 5.19% | 5.78% |
| 2012 | 1.10% | 1.93% | 6.85% |
| 2013 | 11.90% | 5.36% | 7.62% |
| 2014 | 17.39% | 13.42% | 7.66% |
| 2015 | 3.55% | 11.11% | 6.93% |
| 2016 | 1.41% | 6.93% | 6.06% |
| 2017 | 12.82% | 9.36% | 5.58% |
| 2018 | 9.30% | 8.89% | 7.11% |
| 2019 | 7.11% | 6.71% | 10.14% |
| 2020 | 4.81% | 7.02% | 9.17% |
| 2021 | 24.86% | 11.57% | 9.20% |
| 2022 | -7.64% | 7.19% | 8.21% |
| 2023 | 7.76% | 6.89% | 7.81% |
| 2024 | 10.02% | 7.46% | 7.08% |
| 2025 | 9.92% | 8.49% | 7.75% |