US public pension profile· NDPERS
North Dakota Public Employees Retirement System
Funding, investment choices and long-term returns.
North Dakota ·Fiscal year 2025
NDPERS: fiscal year 2025 at a glance
- Market value of assets
- USD 4.8 billion
- Total membership
- 60,483
- Funded ratio
- 71.95%
- Assumed investment return
- 6.50%
Asset allocation in 2025
| Public equity | 50.66% |
|---|---|
| Fixed income | 23.91% |
| Private equity | 9.26% |
| Real estate | 8.95% |
| Hedge funds | 0.00% |
| Cash | 0.71% |
Returns to 2025
| One year | 12.00% |
|---|---|
| Five years | 9.36% |
| Ten years | 7.77% |
NDPERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 1.1 billion | 24,961 | 110.60% | 8.00% |
| 2002 | USD 1.0 billion | 25,631 | 104.20% | 8.00% |
| 2003 | USD 1.1 billion | 26,625 | 98.10% | 8.00% |
| 2004 | USD 1.3 billion | 27,463 | 94.00% | 8.00% |
| 2005 | USD 1.4 billion | 28,266 | 90.80% | 8.00% |
| 2006 | USD 1.6 billion | 28,779 | 86.80% | 8.00% |
| 2007 | USD 1.9 billion | 29,965 | 93.40% | 8.00% |
| 2008 | USD 1.8 billion | 31,309 | 92.60% | 8.00% |
| 2009 | USD 1.3 billion | 32,448 | 85.10% | 8.00% |
| 2010 | USD 1.5 billion | 33,660 | 73.40% | 8.00% |
| 2011 | USD 1.8 billion | 35,226 | 70.50% | 8.00% |
| 2012 | USD 1.7 billion | 36,573 | 65.10% | 8.00% |
| 2013 | USD 2.0 billion | 38,081 | 62.00% | 8.00% |
| 2014 | USD 2.3 billion | 40,019 | 64.51% | 8.00% |
| 2015 | USD 2.4 billion | 42,090 | 68.61% | 8.00% |
| 2016 | USD 2.4 billion | 44,667 | 66.69% | 8.00% |
| 2017 | USD 2.7 billion | 46,000 | 70.66% | 7.75% |
| 2018 | USD 3.0 billion | 47,373 | 72.46% | 7.75% |
| 2019 | USD 3.1 billion | 49,321 | 72.19% | 7.75% |
| 2020 | USD 3.2 billion | 51,277 | 69.12% | 7.00% |
| 2021 | USD 3.9 billion | 53,140 | 71.06% | 7.00% |
| 2022 | USD 3.6 billion | 55,266 | 67.77% | 6.50% |
| 2023 | USD 3.8 billion | 57,618 | 66.91% | 6.50% |
| 2024 | USD 4.3 billion | 60,098 | 68.29% | 6.50% |
| 2025 | USD 4.8 billion | 60,483 | 71.95% | 6.50% |
NDPERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 51.00% | 39.50% | 3.50% | 5.80% | 0.00% | 0.20% |
| 2002 | 49.50% | 41.70% | 2.90% | 5.20% | 0.00% | 0.70% |
| 2003 | 56.40% | 33.30% | 4.50% | 5.10% | 0.00% | 0.70% |
| 2004 | 56.86% | 32.43% | 4.50% | 4.70% | 0.00% | 1.50% |
| 2005 | 56.40% | 33.20% | 4.10% | 5.10% | 0.00% | 1.20% |
| 2006 | 55.60% | 33.30% | 4.10% | 6.00% | 0.00% | 1.00% |
| 2007 | 57.30% | 31.40% | 4.40% | 5.90% | 0.00% | 1.00% |
| 2008 | 51.60% | 35.70% | 5.50% | 6.70% | 0.00% | 0.50% |
| 2009 | 44.50% | 44.00% | 5.20% | 5.70% | 0.00% | 0.60% |
| 2010 | 49.80% | 39.80% | 4.20% | 4.90% | 0.00% | 1.30% |
| 2011 | 55.20% | 34.20% | 3.50% | 5.70% | 0.00% | 1.40% |
| 2012 | 50.30% | 22.80% | 5.80% | 10.10% | 0.00% | 1.60% |
| 2013 | 52.60% | 22.10% | 5.20% | 9.90% | 0.00% | 1.30% |
| 2014 | 53.30% | 23.60% | 4.50% | 9.40% | 0.00% | 1.10% |
| 2015 | 53.70% | 23.10% | 3.70% | 9.80% | 0.00% | 1.70% |
| 2016 | 53.50% | 22.80% | 3.30% | 11.20% | 0.00% | 1.60% |
| 2017 | 55.60% | 22.80% | 3.00% | 11.20% | 0.00% | 0.40% |
| 2018 | 55.10% | 23.50% | 3.20% | 10.60% | 0.00% | 0.80% |
| 2019 | 54.60% | 22.60% | 3.70% | 11.70% | 0.00% | 0.60% |
| 2020 | 53.10% | 23.00% | 4.50% | 11.50% | 0.00% | 0.50% |
| 2021 | 53.80% | 23.50% | 6.70% | 10.00% | 0.00% | 0.50% |
| 2022 | 47.20% | 23.60% | 8.10% | 13.70% | 0.00% | 0.50% |
| 2023 | 49.10% | 21.60% | 10.00% | 12.20% | 0.00% | 0.10% |
| 2024 | 50.35% | 23.62% | 9.31% | 9.51% | 0.00% | 0.60% |
| 2025 | 50.66% | 23.91% | 9.26% | 8.95% | 0.00% | 0.71% |
NDPERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -4.12% | Not reported | Not reported |
| 2002 | -6.83% | 25.66% | Not reported |
| 2003 | 5.46% | 2.68% | Not reported |
| 2004 | 16.66% | 3.78% | Not reported |
| 2005 | 14.07% | 4.66% | Not reported |
| 2006 | 12.00% | 7.93% | Not reported |
| 2007 | 18.96% | 13.33% | Not reported |
| 2008 | -5.60% | 10.85% | Not reported |
| 2009 | -24.42% | 1.63% | Not reported |
| 2010 | 13.67% | 1.54% | 3.08% |
| 2011 | 21.43% | 3.19% | 5.55% |
| 2012 | 0.06% | 0.32% | 6.30% |
| 2013 | 13.50% | 3.43% | 7.09% |
| 2014 | 16.38% | 12.70% | 7.06% |
| 2015 | 3.53% | 10.61% | 6.03% |
| 2016 | 0.28% | 6.49% | 4.86% |
| 2017 | 13.05% | 9.16% | 4.33% |
| 2018 | 9.19% | 8.33% | 5.86% |
| 2019 | 5.60% | 6.22% | 9.46% |
| 2020 | 3.41% | 6.20% | 8.43% |
| 2021 | 27.15% | 11.36% | 8.93% |
| 2022 | -6.66% | 7.08% | 8.17% |
| 2023 | 7.98% | 6.94% | 7.64% |
| 2024 | 8.96% | 7.62% | 6.93% |
| 2025 | 12.00% | 9.36% | 7.77% |