Kern County (CA) ERS — assets, returns and funding
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
Kern County (CA) ERS (California) reported $6.5bn of assets for fiscal year 2025, a one-year investment return of 10.9%, and was 72.3% funded — below the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $6.5bn |
| 1-year return | 10.9% |
| 5-year return (annualised) | 8.9% |
| 10-year return (annualised) | 7.0% |
| Funded ratio (GASB) | 72.3% |
How the money is invested (asset allocation)
Kern County (CA) ERS held 33.6% of its assets in public equities and 21.5% in fixed income (bonds) for fiscal year 2025 — the largest of 8 sleeves it reports, with the rest below:
| Public equities | 33.6% |
| Fixed income (bonds) | 21.5% |
| Hedge funds | 18.3% |
| Real estate | 9.5% |
| Commodities | 8.8% |
| Private equity | 5.2% |
| Other assets | 2.5% |
| Cash | 0.6% |
Compare Kern County (CA) ERS with similar plans
The plans most worth reading Kern County (CA) ERS against — similar in size, or invested in the same managers — side by side, each with its own page for the detail:
| Plan | Assets | 1-yr return | Funded ratio | Why comparable |
|---|---|---|---|---|
| California PERF (CalPERS) | $563.0bn | 11.6% | 71.3% | Same state — California |
| California Teachers (CalSTRS) | $370.2bn | 8.5% | 76.7% | Same state — California |
| University of California | $110.8bn | 12.7% | 85.4% | Same state — California |
| LA County (CA) ERS | $86.2bn | 9.7% | 82.0% | Same state — California |
| San Francisco (CA) ERS | $37.5bn | 7.9% | 96.8% | Same state — California |
| Los Angeles (CA) Fire and Police | $30.5bn | 11.3% | 100.6% | Same state — California |
Questions this page answers
How much does Kern County (CA) ERS have in assets?
Kern County (CA) ERS reported $6.5bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did Kern County (CA) ERS make on its investments?
Kern County (CA) ERS reported a 10.9% one-year investment return for fiscal year 2025, and 7.0% a year over the past ten years, per the Public Plans Database.
Is Kern County (CA) ERS fully funded?
Kern County (CA) ERS was 72.3% funded for fiscal year 2025 — below the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).
How is Kern County (CA) ERS's money invested?
Kern County (CA) ERS held 33.6% of its assets in public equities and 21.5% in fixed income (bonds), its largest sleeves for fiscal year 2025 (Public Plans Database).
See also: all tracked plans · how the private-equity funds these plans invest in have actually performed, from the plans' own disclosures: private market performance, and where plans' numbers diverge on the same fund.