US public pension profile· SERS Ohio
School Employees’ Retirement System of Ohio
Funding, investment choices and long-term returns.
Ohio ·Fiscal year 2025
SERS Ohio: fiscal year 2025 at a glance
- Market value of assets
- USD 19.8 billion
- Total membership
- 255,289
- Funded ratio
- 79.00%
- Assumed investment return
- 7.00%
Asset allocation in 2025
| Public equity | 43.50% |
|---|---|
| Fixed income | 13.10% |
| Private equity | 12.90% |
| Real estate | 10.30% |
| Hedge funds | 9.10% |
| Cash | 4.00% |
Returns to 2025
| One year | 11.20% |
|---|---|
| Five years | 10.60% |
| Ten years | 8.60% |
SERS Ohio: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 7.9 billion | 182,436 | 95.00% | 7.75% |
| 2002 | USD 7.1 billion | 188,026 | 90.20% | 8.25% |
| 2003 | USD 7.1 billion | 191,110 | 83.60% | 8.25% |
| 2004 | USD 8.2 billion | 192,829 | 78.10% | 8.25% |
| 2005 | USD 8.9 billion | 193,807 | 75.30% | 8.25% |
| 2006 | USD 9.9 billion | 195,970 | 76.40% | 8.00% |
| 2007 | USD 11.6 billion | 197,223 | 80.80% | 8.00% |
| 2008 | USD 10.6 billion | 200,445 | 82.00% | 8.00% |
| 2009 | USD 8.0 billion | 203,133 | 68.40% | 8.00% |
| 2010 | USD 9.0 billion | 204,412 | 72.60% | 8.00% |
| 2011 | USD 10.5 billion | 204,968 | 65.20% | 7.75% |
| 2012 | USD 10.2 billion | 203,459 | 62.80% | 7.75% |
| 2013 | USD 11.2 billion | 199,659 | 65.30% | 7.75% |
| 2014 | USD 12.7 billion | 200,905 | 68.06% | 7.75% |
| 2015 | USD 12.6 billion | 204,090 | 68.81% | 7.75% |
| 2016 | USD 12.3 billion | 207,639 | 67.33% | 7.50% |
| 2017 | USD 13.4 billion | 241,873 | 70.70% | 7.50% |
| 2018 | USD 14.1 billion | 244,766 | 70.68% | 7.50% |
| 2019 | USD 14.3 billion | 245,851 | 71.02% | 7.50% |
| 2020 | USD 14.2 billion | 243,084 | 72.99% | 7.50% |
| 2021 | USD 17.6 billion | 233,339 | 75.99% | 7.00% |
| 2022 | USD 16.7 billion | 242,332 | 76.96% | 7.00% |
| 2023 | USD 17.3 billion | 248,119 | 78.06% | 7.00% |
| 2024 | USD 18.4 billion | 252,447 | 80.42% | 7.00% |
| 2025 | USD 19.8 billion | 255,289 | 79.00% | 7.00% |
SERS Ohio: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 59.80% | 22.90% | 1.20% | 11.30% | 0.00% | 4.80% |
| 2002 | 60.10% | 28.00% | 1.20% | 10.40% | 0.00% | 0.30% |
| 2003 | 65.70% | 22.70% | 1.30% | 9.60% | 0.00% | 0.70% |
| 2004 | 66.30% | 22.40% | 1.50% | 8.80% | 0.00% | 1.00% |
| 2005 | 64.30% | 22.40% | 1.90% | 10.20% | 0.00% | 1.20% |
| 2006 | 64.70% | 21.00% | 2.60% | 11.20% | 0.00% | 0.50% |
| 2007 | 62.20% | 23.40% | 3.60% | 9.80% | 0.00% | 1.00% |
| 2008 | 56.70% | 24.50% | 5.90% | 11.80% | 0.00% | 1.10% |
| 2009 | 54.30% | 24.70% | 7.80% | 10.50% | 0.00% | 2.70% |
| 2010 | 55.00% | 25.80% | 9.20% | 9.20% | 0.00% | 0.80% |
| 2011 | 50.90% | 17.40% | 7.80% | 9.40% | 12.90% | 1.60% |
| 2012 | 46.86% | 18.34% | 9.37% | 10.27% | 14.16% | 1.00% |
| 2013 | 48.90% | 16.30% | 9.60% | 10.30% | 13.60% | 1.30% |
| 2014 | 49.70% | 14.90% | 9.50% | 10.60% | 12.80% | 2.50% |
| 2015 | 46.10% | 15.70% | 9.30% | 12.70% | 13.10% | 3.10% |
| 2016 | 43.50% | 16.40% | 10.00% | 15.80% | 13.00% | 1.30% |
| 2017 | 47.10% | 14.70% | 9.70% | 14.90% | 11.60% | 2.00% |
| 2018 | 46.00% | 13.50% | 10.30% | 14.10% | 10.80% | 5.30% |
| 2019 | 45.70% | 15.40% | 10.10% | 15.00% | 10.60% | 3.20% |
| 2020 | 45.20% | 17.10% | 10.50% | 15.50% | 9.70% | 2.00% |
| 2021 | 48.30% | 14.70% | 11.80% | 15.00% | 6.60% | 3.60% |
| 2022 | 40.70% | 12.60% | 12.70% | 21.60% | 9.40% | 3.00% |
| 2023 | 41.80% | 13.00% | 13.30% | 20.10% | 9.20% | 2.60% |
| 2024 | 43.70% | 12.80% | 13.60% | 11.50% | 9.30% | 2.50% |
| 2025 | 43.50% | 13.10% | 12.90% | 10.30% | 9.10% | 4.00% |
SERS Ohio: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -6.80% | 10.70% | 10.70% |
| 2002 | -7.80% | 5.20% | 8.70% |
| 2003 | 1.80% | 2.00% | 7.90% |
| 2004 | 16.50% | 2.80% | 9.50% |
| 2005 | 10.50% | 2.40% | 8.90% |
| 2006 | 13.20% | 6.50% | 8.60% |
| 2007 | 19.30% | 12.10% | 8.60% |
| 2008 | -5.30% | 10.50% | 6.20% |
| 2009 | -21.80% | 2.00% | 2.40% |
| 2010 | 12.30% | 2.40% | 2.40% |
| 2011 | 20.90% | 3.70% | 5.10% |
| 2012 | 0.90% | 0.30% | 6.00% |
| 2013 | 13.70% | 4.00% | 7.21% |
| 2014 | 18.00% | 13.00% | 7.30% |
| 2015 | 3.90% | 10.60% | 6.10% |
| 2016 | 1.40% | 6.90% | 5.00% |
| 2017 | 13.20% | 9.60% | 4.50% |
| 2018 | 9.20% | 8.80% | 6.00% |
| 2019 | 6.60% | 6.80% | 9.40% |
| 2020 | 3.00% | 6.60% | 8.60% |
| 2021 | 26.80% | 11.50% | 9.20% |
| 2022 | -0.50% | 8.60% | 9.10% |
| 2023 | 7.40% | 8.30% | 8.50% |
| 2024 | 9.70% | 8.90% | 7.80% |
| 2025 | 11.20% | 10.60% | 8.60% |