US public pension profile
Sacramento County Employees' Retirement System
Funding, investment choices and long-term returns.
California ·Fiscal year 2025
Fiscal year 2025 at a glance
- Market value of assets
- USD 14.6 billion
- Funded ratio
- 87.21%
- Assumed investment return
- 6.75%
Asset allocation in 2025
| Public equity | 42.50% |
|---|---|
| Fixed income | 17.70% |
| Private equity | 12.60% |
| Real estate | 6.40% |
| Hedge funds | 12.20% |
| Cash | 0.00% |
Returns to 2025
| One year | 10.80% |
|---|---|
| Five years | 9.60% |
| Ten years | 7.93% |
Size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 3.4 billion | 20,663 | 107.70% | 8.00% |
| 2002 | USD 3.2 billion | 21,769 | 107.10% | 8.00% |
| 2003 | USD 3.2 billion | 21,900 | 104.30% | 8.00% |
| 2004 | USD 3.8 billion | 22,073 | 93.30% | 8.00% |
| 2005 | USD 4.6 billion | 22,647 | 93.20% | 7.75% |
| 2006 | USD 5.1 billion | 23,712 | 93.00% | 7.75% |
| 2007 | USD 6.0 billion | 24,617 | 93.40% | 7.88% |
| 2008 | USD 5.7 billion | 25,550 | 93.20% | 7.88% |
| 2009 | USD 4.4 billion | 25,582 | 86.00% | 7.88% |
| 2010 | USD 5.0 billion | 24,426 | 87.70% | 7.75% |
| 2011 | USD 6.1 billion | 23,965 | 87.00% | 7.75% |
| 2012 | USD 6.1 billion | 24,245 | 83.30% | 7.50% |
| 2013 | USD 6.8 billion | 24,909 | 82.80% | 7.50% |
| 2014 | USD 7.8 billion | 25,299 | 85.22% | 7.50% |
| 2015 | USD 7.9 billion | 25,874 | 86.82% | 7.50% |
| 2016 | USD 7.7 billion | 26,654 | 87.29% | 7.50% |
| 2017 | USD 8.6 billion | 27,408 | 81.13% | 7.50% |
| 2018 | USD 9.3 billion | 28,069 | 81.36% | 7.00% |
| 2019 | USD 9.8 billion | 28,661 | 81.57% | 7.00% |
| 2020 | USD 10.0 billion | 29,173 | 80.59% | 6.75% |
| 2021 | USD 12.6 billion | 29,605 | 82.12% | 6.75% |
| 2022 | USD 11.8 billion | 30,815 | 85.78% | 6.75% |
| 2023 | USD 12.4 billion | 31,803 | 83.85% | 6.75% |
| 2024 | USD 13.3 billion | 32,910 | 85.32% | 6.75% |
| 2025 | USD 14.6 billion | Not reported | 87.21% | 6.75% |
Asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 58.15% | 27.53% | 0.00% | 11.07% | 0.00% | 3.25% |
| 2002 | 56.54% | 32.06% | 0.00% | 11.21% | 0.00% | 0.19% |
| 2003 | 61.50% | 27.99% | 0.00% | 9.92% | 0.00% | 0.59% |
| 2004 | 63.77% | 26.58% | 0.00% | 7.55% | 0.00% | 2.10% |
| 2005 | 60.55% | 30.06% | 0.00% | 8.19% | 0.00% | 1.20% |
| 2006 | 56.72% | 21.30% | 0.00% | 12.07% | 4.66% | 5.25% |
| 2007 | 59.49% | 22.34% | 0.00% | 12.66% | 0.00% | 5.51% |
| 2008 | 46.20% | 20.19% | 4.55% | 13.81% | 11.09% | 4.16% |
| 2009 | 47.58% | 21.11% | 0.49% | 13.50% | 9.81% | 7.51% |
| 2010 | 50.68% | 21.01% | 0.77% | 13.10% | 10.68% | 3.76% |
| 2011 | 53.11% | 17.39% | 1.06% | 11.82% | 8.89% | 7.73% |
| 2012 | 51.21% | 18.20% | 1.74% | 12.79% | 6.80% | 7.58% |
| 2013 | 48.85% | 18.82% | 2.46% | 0.00% | 8.98% | 7.07% |
| 2014 | 48.80% | 19.00% | 3.80% | 0.00% | 10.70% | 3.60% |
| 2015 | 44.90% | 19.40% | 10.00% | 0.00% | 11.60% | 0.10% |
| 2016 | 45.30% | 19.60% | 9.80% | 0.00% | 12.20% | 0.00% |
| 2017 | 47.00% | 18.00% | 7.80% | 0.00% | 11.00% | 2.60% |
| 2018 | 36.74% | 23.00% | 8.30% | 9.06% | 10.69% | 5.92% |
| 2019 | 41.90% | 19.90% | 10.20% | 9.30% | 11.60% | 0.00% |
| 2020 | 41.70% | 20.30% | 11.00% | 8.70% | 11.20% | 1.00% |
| 2021 | 42.20% | 19.00% | 12.80% | 6.90% | 10.80% | 0.80% |
| 2022 | 34.20% | 17.30% | 15.50% | 9.60% | 13.50% | 0.80% |
| 2023 | 39.30% | 17.60% | 13.60% | 8.20% | 11.30% | 1.30% |
| 2024 | 41.80% | 20.00% | 13.40% | 6.70% | 9.70% | 0.00% |
| 2025 | 42.50% | 17.70% | 12.60% | 6.40% | 12.20% | 0.00% |
Investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -4.90% | 10.60% | Not reported |
| 2002 | -5.20% | 5.60% | Not reported |
| 2003 | 3.70% | 2.90% | Not reported |
| 2004 | 16.20% | 3.60% | Not reported |
| 2005 | 10.10% | 3.60% | Not reported |
| 2006 | 12.10% | 7.20% | Not reported |
| 2007 | 18.00% | 12.00% | Not reported |
| 2008 | -4.50% | 10.20% | Not reported |
| 2009 | -21.80% | 1.80% | Not reported |
| 2010 | 13.90% | 2.30% | 3.01% |
| 2011 | 22.70% | 4.10% | 5.67% |
| 2012 | 0.50% | 0.80% | 6.29% |
| 2013 | 12.80% | 4.00% | 7.19% |
| 2014 | 16.10% | 12.70% | 7.18% |
| 2015 | 2.20% | 10.50% | 6.39% |
| 2016 | -0.90% | 5.90% | 5.08% |
| 2017 | 13.40% | 8.50% | 4.66% |
| 2018 | 9.90% | 8.00% | 6.15% |
| 2019 | 6.90% | 6.20% | 9.52% |
| 2020 | 2.70% | 6.40% | 8.39% |
| 2021 | 27.70% | 11.90% | 8.82% |
| 2022 | -3.50% | 8.40% | 8.38% |
| 2023 | 6.10% | 7.50% | 7.72% |
| 2024 | 9.20% | 8.00% | 7.06% |
| 2025 | 10.80% | 9.60% | 7.93% |