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
Newest reported year for this plan: fiscal year 2025 —
public plans publish audited figures 6–12 months after year end, and the database compiles
them in batches, so this is the current public record, not a stale copy.
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 — meaning the assets on hand covered that share of the benefits it has promised.
| 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)
Share of total assets by sleeve, as the plan reported it for FY 2025 — sleeves the plan does not report are omitted:
| Public equities | 47.1% |
| Fixed income (bonds) | 28.8% |
| Misc. alternatives | 24.1% |
| Private equity | 0.0% |
| Hedge funds | 0.0% |
Figures as reported for fiscal year 2025 · Data: Public Plans Database (Center for Retirement Research at Boston College / MissionSquare Research Institute / NASRA) — used with attribution under its non-commercial terms · Refresh: quarterly pull, annual figures · Limitations: public plans report with a lag — FY figures arrive months after year end; returns are as reported by the plan, net/gross basis varies by plan
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.