Michigan Municipal — assets, returns and funding
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
Michigan Municipal (Michigan) reported $14.9bn of assets for fiscal year 2025, a one-year investment return of 15.4%, and was 75.2% funded — below the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $14.9bn |
| 1-year return | 15.4% |
| 5-year return (annualised) | 7.3% |
| 10-year return (annualised) | 8.3% |
| Funded ratio (GASB) | 75.2% |
How the money is invested (asset allocation)
Michigan Municipal held 47.1% of its assets in public equities and 28.8% in fixed income (bonds) for fiscal year 2025 — the largest of 5 sleeves it reports, with the rest below:
| Public equities | 47.1% |
| Fixed income (bonds) | 28.8% |
| Misc. alternatives | 24.1% |
| Private equity | 0.0% |
| Hedge funds | 0.0% |
Compare Michigan Municipal with similar plans
The plans most worth reading Michigan Municipal 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 |
|---|---|---|---|---|
| Michigan Public Schools | $78.7bn | 9.8% | 74.6% | Same state — Michigan |
| Michigan SERS | $15.1bn | 9.8% | 77.6% | Same state — Michigan |
| Detroit (MI) Police and Fire | $2.8bn | 10.0% | 129.1% | Same state — Michigan |
| Detroit (MI) General RS | $1.8bn | 10.3% | 67.3% | Same state — Michigan |
| Sacramento County (CA) ERS | $14.6bn | 10.8% | 87.2% | Similar size |
| South Dakota RS | $15.3bn | 5.5% | 100.1% | Similar size |
Questions this page answers
How much does Michigan Municipal have in assets?
Michigan Municipal reported $14.9bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did Michigan Municipal make on its investments?
Michigan Municipal reported a 15.4% one-year investment return for fiscal year 2025, and 8.3% a year over the past ten years, per the Public Plans Database.
Is Michigan Municipal fully funded?
Michigan Municipal was 75.2% 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 Michigan Municipal's money invested?
Michigan Municipal held 47.1% of its assets in public equities and 28.8% 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.