Pennsylvania State 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
Pennsylvania State ERS (Pennsylvania) reported $42.6bn of assets for fiscal year 2025, a one-year investment return of 13.7%, and was 71.7% funded — below the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $42.6bn |
| 1-year return | 13.7% |
| 5-year return (annualised) | 7.6% |
| 10-year return (annualised) | 8.3% |
| Funded ratio (GASB) | 71.7% |
How the money is invested (asset allocation)
Pennsylvania State ERS held 54.3% of its assets in public equities and 21.1% in fixed income (bonds) for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:
| Public equities | 54.3% |
| Fixed income (bonds) | 21.1% |
| Private equity | 15.7% |
| Real estate | 5.0% |
| Cash | 3.1% |
| Hedge funds | 0.8% |
Compare Pennsylvania State ERS with similar plans
The plans most worth reading Pennsylvania State 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 |
|---|---|---|---|---|
| Pennsylvania School Employees | $82.6bn | 9.7% | 66.6% | Same state — Pennsylvania |
| Philadelphia (PA) Municipal | $9.5bn | 12.8% | 65.4% | Same state — Pennsylvania |
| Pennsylvania Municipal | $4.0bn | 14.1% | 101.7% | Same state — Pennsylvania |
| Pittsburgh (PA) Fire | $386m | 11.8% | — | Same state — Pennsylvania |
| Pittsburgh (PA) Police | $369m | 10.4% | 69.9% | Same state — Pennsylvania |
| Pittsburgh (PA) Municipal | $343m | 10.4% | 98.6% | Same state — Pennsylvania |
Questions this page answers
How much does Pennsylvania State ERS have in assets?
Pennsylvania State ERS reported $42.6bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did Pennsylvania State ERS make on its investments?
Pennsylvania State ERS reported a 13.7% one-year investment return for fiscal year 2025, and 8.3% a year over the past ten years, per the Public Plans Database.
Is Pennsylvania State ERS fully funded?
Pennsylvania State ERS was 71.7% 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 Pennsylvania State ERS's money invested?
Pennsylvania State ERS held 54.3% of its assets in public equities and 21.1% 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.