Last verified 2026-10-01

Texas ERS — assets, returns and funding

Q: How much does Texas ERS have in assets?

Texas ERS reported $40.1bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

Q: What return did Texas ERS make on its investments?

Texas ERS reported a 8.9% one-year investment return for fiscal year 2025, and 8.7% a year over the past ten years, per the Public Plans Database.

Q: Is Texas ERS fully funded?

Texas ERS was 74.4% 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).

Q: How is Texas ERS's money invested?

Texas ERS held 52.3% of its assets in public equities and 18.2% in commodities, 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.

Texas ERS (Texas) reported $40.1bn of assets for fiscal year 2025, a one-year investment return of 8.9%, and was 74.4% funded — below the ~80% mark the industry reads as sound.

Total assets (FY 2025)	$40.1bn
1-year return	8.9%
5-year return (annualised)	10.1%
10-year return (annualised)	8.7%
Funded ratio (GASB)	74.4%

How the money is invested (asset allocation)

Texas ERS held 52.3% of its assets in public equities and 18.2% in commodities for fiscal year 2025 — the largest of 6 sleeves it reports, with the rest below:

Public equities	52.3%
Commodities	18.2%
Cash	12.8%
Fixed income (bonds)	11.0%
Hedge funds	5.7%
Private equity	0.0%

The plans most worth reading Texas 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
Texas Teachers (TRS of Texas)	$226.3bn	10.8%	77.5%	Same state — Texas
Texas County & District	$56.5bn	12.6%	90.7%	Same state — Texas
Texas Municipal	$49.4bn	13.8%	90.4%	Same state — Texas
Houston (TX) Police	$8.3bn	9.4%	94.2%	Same state — Texas
Houston (TX) Firefighters	$5.8bn	11.9%	93.3%	Same state — Texas
Houston (TX) Municipal	$4.7bn	11.8%	76.9%	Same state — Texas

Questions this page answers

How much does Texas ERS have in assets?

Texas ERS reported $40.1bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

What return did Texas ERS make on its investments?

Texas ERS reported a 8.9% one-year investment return for fiscal year 2025, and 8.7% a year over the past ten years, per the Public Plans Database.

Is Texas ERS fully funded?

Texas ERS was 74.4% 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 Texas ERS's money invested?

Texas ERS held 52.3% of its assets in public equities and 18.2% in commodities, 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.