US public pension profile· NYSLRS PFRS
New York State and Local Retirement System - Police and Fire Retirement System
Funding, investment choices and long-term returns.
New York ·Fiscal year 2025
NYSLRS PFRS: fiscal year 2025 at a glance
- Market value of assets
- USD 42.6 billion
- Total membership
- 78,473
- Funded ratio
- 88.54%
- Assumed investment return
- 5.90%
Asset allocation in 2025
| Public equity | 41.38% |
|---|---|
| Fixed income | 21.28% |
| Private equity | 15.85% |
| Real estate | 10.85% |
| Hedge funds | 3.94% |
| Cash | 2.34% |
Returns to 2025
| One year | 5.84% |
|---|---|
| Five years | 10.60% |
| Ten years | 7.74% |
NYSLRS PFRS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 17.6 billion | 59,854 | 132.60% | 8.00% |
| 2002 | USD 17.3 billion | 60,577 | 129.10% | 8.00% |
| 2003 | USD 14.8 billion | 61,586 | 103.30% | 8.00% |
| 2004 | USD 18.3 billion | 61,609 | 104.10% | 8.00% |
| 2005 | USD 19.3 billion | 62,589 | 104.80% | 8.00% |
| 2006 | USD 21.4 billion | 63,331 | 105.16% | 8.00% |
| 2007 | USD 23.5 billion | 64,221 | 106.50% | 8.00% |
| 2008 | USD 23.4 billion | 64,959 | 108.04% | 8.00% |
| 2009 | USD 16.7 billion | 65,481 | 103.83% | 8.00% |
| 2010 | USD 20.2 billion | 65,688 | 96.66% | 8.00% |
| 2011 | USD 22.4 billion | 65,247 | 91.87% | 7.50% |
| 2012 | USD 22.9 billion | 65,823 | 87.90% | 7.50% |
| 2013 | USD 24.5 billion | 65,704 | 89.50% | 7.50% |
| 2014 | USD 27.0 billion | 66,751 | 93.06% | 7.50% |
| 2015 | USD 28.2 billion | 67,303 | 95.98% | 7.50% |
| 2016 | USD 27.4 billion | 67,865 | 93.46% | 7.00% |
| 2017 | USD 29.6 billion | 69,636 | 93.42% | 7.00% |
| 2018 | USD 31.9 billion | 71,169 | 96.73% | 7.00% |
| 2019 | USD 32.5 billion | 72,387 | 93.91% | 7.00% |
| 2020 | USD 30.0 billion | 73,438 | 91.49% | 6.80% |
| 2021 | USD 39.5 billion | 73,525 | 95.60% | 5.90% |
| 2022 | USD 41.7 billion | 74,758 | 96.17% | 5.90% |
| 2023 | USD 38.3 billion | 75,822 | 94.26% | 5.90% |
| 2024 | USD 41.4 billion | 77,083 | 91.20% | 5.90% |
| 2025 | USD 42.6 billion | 78,473 | 88.54% | 5.90% |
NYSLRS PFRS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 54.72% | 31.89% | 6.13% | 4.70% | 2.56% | 0.00% |
| 2002 | 60.42% | 29.26% | 5.86% | 4.47% | 0.00% | 0.00% |
| 2003 | 54.14% | 34.17% | 6.71% | 4.98% | 0.00% | 0.00% |
| 2004 | 62.98% | 25.09% | 6.30% | 4.06% | 0.00% | 1.57% |
| 2005 | 63.49% | 23.45% | 7.11% | 3.89% | 0.00% | 2.06% |
| 2006 | 62.84% | 20.58% | 7.57% | 4.36% | 0.00% | 4.66% |
| 2007 | 57.90% | 21.38% | 7.62% | 4.66% | 2.98% | 5.45% |
| 2008 | 54.98% | 23.89% | 7.78% | 5.66% | 3.48% | 4.21% |
| 2009 | 44.30% | 33.30% | 10.15% | 6.60% | 2.17% | 3.49% |
| 2010 | 55.47% | 25.58% | 8.98% | 4.73% | 2.90% | 2.34% |
| 2011 | 54.35% | 21.08% | 10.08% | 5.76% | 3.05% | 5.68% |
| 2012 | 52.45% | 22.18% | 10.29% | 6.75% | 3.43% | 4.91% |
| 2013 | 51.64% | 23.97% | 9.07% | 7.49% | 3.81% | 4.02% |
| 2014 | 52.91% | 23.51% | 8.01% | 7.62% | 4.20% | 3.74% |
| 2015 | 51.22% | 25.89% | 7.74% | 7.04% | 5.26% | 2.85% |
| 2016 | 50.85% | 24.98% | 8.09% | 7.52% | 5.45% | 3.12% |
| 2017 | 53.89% | 22.87% | 8.18% | 7.14% | 4.98% | 2.94% |
| 2018 | 55.30% | 22.31% | 8.50% | 6.90% | 5.00% | 1.60% |
| 2019 | 51.71% | 22.14% | 9.35% | 7.46% | 4.97% | 2.88% |
| 2020 | 48.07% | 23.78% | 10.52% | 8.01% | 5.11% | 2.90% |
| 2021 | 51.90% | 22.20% | 11.40% | 6.80% | 1.90% | 4.30% |
| 2022 | 49.10% | 19.30% | 13.60% | 8.40% | 6.00% | 1.40% |
| 2023 | 43.90% | 19.50% | 14.90% | 10.10% | 6.90% | 1.60% |
| 2024 | 35.54% | 32.78% | 12.38% | 7.78% | 6.77% | 1.84% |
| 2025 | 41.38% | 21.28% | 15.85% | 10.85% | 3.94% | 2.34% |
NYSLRS PFRS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -8.65% | 11.09% | Not reported |
| 2002 | 2.76% | 9.42% | Not reported |
| 2003 | -10.20% | 1.56% | Not reported |
| 2004 | 28.83% | 5.05% | Not reported |
| 2005 | 8.51% | 3.34% | Not reported |
| 2006 | 14.59% | 8.13% | 9.60% |
| 2007 | 12.58% | 10.12% | 9.77% |
| 2008 | 2.56% | 13.09% | 7.17% |
| 2009 | -26.38% | 1.11% | 3.06% |
| 2010 | 25.87% | 4.16% | 3.75% |
| 2011 | 14.57% | 4.16% | 6.12% |
| 2012 | 5.96% | 2.91% | 6.45% |
| 2013 | 10.38% | 4.43% | 8.67% |
| 2014 | 13.02% | 13.78% | 7.26% |
| 2015 | 7.16% | 10.17% | 7.12% |
| 2016 | 0.19% | 7.25% | 5.69% |
| 2017 | 11.48% | 8.35% | 5.59% |
| 2018 | 11.35% | 8.54% | 6.46% |
| 2019 | 5.23% | 7.00% | 10.34% |
| 2020 | -2.68% | 4.96% | 7.53% |
| 2021 | 33.55% | 11.17% | 9.19% |
| 2022 | 9.51% | 10.77% | 9.55% |
| 2023 | -4.14% | 7.50% | 8.02% |
| 2024 | 11.55% | 8.76% | 7.88% |
| 2025 | 5.84% | 10.60% | 7.74% |