North Carolina Local Government — assets, returns and funding
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
North Carolina Local Government (North Carolina) reported $37.0bn of assets for fiscal year 2025, a one-year investment return of 9.9%, and was 85.2% funded — around the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $37.0bn |
| 1-year return | 9.9% |
| 5-year return (annualised) | 6.7% |
| 10-year return (annualised) | 6.3% |
| Funded ratio (GASB) | 85.2% |
How the money is invested (asset allocation)
North Carolina Local Government held 43.7% of its assets in public equities and 33.4% in fixed income (bonds) for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:
| Public equities | 43.7% |
| Fixed income (bonds) | 33.4% |
| Hedge funds | 8.1% |
| Real estate | 6.4% |
| Private equity | 4.6% |
| Cash | 3.8% |
Compare North Carolina Local Government with similar plans
The plans most worth reading North Carolina Local Government 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 |
|---|---|---|---|---|
| North Carolina Teachers and State Employees | $93.4bn | 9.9% | 88.8% | Same state — North Carolina |
| Charlotte (NC) Firefighters' RS | $712m | 11.8% | 68.8% | Same state — North Carolina |
| Charlotte (NC) Law Enforcement | $0k | — | — | Same state — North Carolina |
| San Francisco (CA) ERS | $37.5bn | 7.9% | 96.8% | Similar size |
| New Jersey Police & Fire | $37.5bn | 11.0% | 67.7% | Similar size |
| Mississippi PERS | $35.6bn | 11.7% | 56.7% | Similar size |
Questions this page answers
How much does North Carolina Local Government have in assets?
North Carolina Local Government reported $37.0bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did North Carolina Local Government make on its investments?
North Carolina Local Government reported a 9.9% one-year investment return for fiscal year 2025, and 6.3% a year over the past ten years, per the Public Plans Database.
Is North Carolina Local Government fully funded?
North Carolina Local Government was 85.2% funded for fiscal year 2025 — above 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 North Carolina Local Government's money invested?
North Carolina Local Government held 43.7% of its assets in public equities and 33.4% 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.