Last verified 2026-10-01

South Dakota RS — assets, returns and funding

Q: How much does South Dakota RS have in assets?

South Dakota RS reported $15.3bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

Q: What return did South Dakota RS make on its investments?

South Dakota RS reported a 5.5% one-year investment return for fiscal year 2025, and 6.5% a year over the past ten years, per the Public Plans Database.

Q: Is South Dakota RS fully funded?

Yes — South Dakota RS was 100.1% funded for fiscal year 2025, at or above the 100% fully-funded target. US public plans face no federal funding minimum, and few clear it (Public Plans Database).

Q: How is South Dakota RS's money invested?

South Dakota RS held 37.4% of its assets in cash and 21.1% in public equities, its largest sleeves for fiscal year 2025 (Public Plans Database).

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.

South Dakota RS (South Dakota) reported $15.3bn of assets for fiscal year 2025, a one-year investment return of 5.5%, and was 100.1% funded — at or above the 100% fully-funded mark.

Total assets (FY 2025)	$15.3bn
1-year return	5.5%
5-year return (annualised)	7.5%
10-year return (annualised)	6.5%
Funded ratio (GASB)	100.1%

How the money is invested (asset allocation)

South Dakota RS held 37.4% of its assets in cash and 21.1% in public equities for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:

Cash	37.4%
Public equities	21.1%
Fixed income (bonds)	17.1%
Real estate	13.0%
Private equity	10.4%
Hedge funds	1.0%

The plans most worth reading South Dakota RS 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
Sioux Falls (SD) ERS	$685m	13.6%	106.2%	Same state — South Dakota
Sioux Falls (SD) Fire	$226m	10.3%	107.9%	Same state — South Dakota
Michigan SERS	$15.1bn	9.8%	77.6%	Similar size
Michigan Municipal	$14.9bn	15.4%	75.2%	Similar size
Sacramento County (CA) ERS	$14.6bn	10.8%	87.2%	Similar size
Kentucky County	$14.4bn	11.7%	60.2%	Similar size

Questions this page answers

How much does South Dakota RS have in assets?

South Dakota RS reported $15.3bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

What return did South Dakota RS make on its investments?

South Dakota RS reported a 5.5% one-year investment return for fiscal year 2025, and 6.5% a year over the past ten years, per the Public Plans Database.

Is South Dakota RS fully funded?

Yes — South Dakota RS was 100.1% funded for fiscal year 2025, at or above the 100% fully-funded target. US public plans face no federal funding minimum, and few clear it (Public Plans Database).

How is South Dakota RS's money invested?

South Dakota RS held 37.4% of its assets in cash and 21.1% in public equities, its largest sleeves for fiscal year 2025 (Public Plans Database).

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.