Investment Return Assumptions
From Wikipension
The nominal (non-inflation adjusted) investment return assumption used or adopted by funds in the Public Fund Survey ranges from 6.75 percent to 8.50 percent.
The average assumed rate of the funds listed below is 7.80 percent.
The chart below illustrates this information:
Studies & Reports
- NASRA Issue Brief: Public Pension Fund Investment Return Assumptions
- Investment Return Assumptions for Public Funds: The Historical Record
| System/Fund | Latest Nominal Investment Return Assumption |
| Alabama ERS | 8.00% |
| Alabama Teachers | 8.00% |
| Alaska PERS | 8.25% |
| Alaska Teachers | 8.25% |
| Arizona Public Safety Personnel | 8.00% |
| Arizona SRS | 8.00% |
| Arkansas PERS | 8.00% |
| Arkansas Teachers | 8.00% |
| California PERF | 7.50% |
| California Teachers | 7.50% |
| Chicago Teachers | 8.00% |
| City of Austin ERS | 7.75% |
| Colorado Affiliated Local | 7.75% |
| Colorado Fire & Police Statewide | 7.75% |
| Colorado Municipal | 8.00% |
| Colorado School | 8.00% |
| Colorado State | 8.00% |
| Connecticut SERS | 8.25% |
| Connecticut Teachers | 8.50% |
| Contra Costa County | 7.80% |
| DC Police & Fire | 7.00% |
| DC Teachers | 7.00% |
| Delaware State Employees | 7.50% |
| Denver Employees | 8.00% |
| Denver Public Schools | 8.00% |
| Duluth Teachers | 8.00% |
| Fairfax County Schools | 7.50% |
| Florida RS | 7.75% |
| Georgia ERS | 7.50% |
| Georgia Teachers | 7.50% |
| Hawaii ERS | 7.75% |
| Houston Firefighters | 8.50% |
| Idaho PERS | 7.00% |
| Illinois Municipal | 7.50% |
| Illinois SERS | 7.75% |
| Illinois Teachers | 8.00% |
| Illinois Universities | 7.75% |
| Indiana PERF | 6.75% |
| Indiana Teachers | 6.75% |
| Iowa PERS | 7.50% |
| Kansas PERS | 8.00% |
| Kentucky County | 7.75% |
| Kentucky ERS | 7.75% |
| Kentucky Teachers | 7.50% |
| LA County ERS | 7.75% |
| Louisiana SERS | 8.00% |
| Louisiana Teachers | 8.25% |
| Maine Local | 7.25% |
| Maine State and Teacher | 7.25% |
| Maryland PERS | 7.75% |
| Maryland Teachers | 7.75% |
| Massachusetts SERS | 8.25% |
| Massachusetts Teachers | 8.25% |
| Michigan Municipal | 8.00% |
| Michigan Public Schools | 8.00% |
| Michigan SERS | 8.00% |
| Minnesota PERF | 8.00% |
| Minnesota State Employees | 8.00% |
| Minnesota Teachers | 8.00% |
| Mississippi PERS | 8.00% |
| Missouri DOT and Highway Patrol | 8.25% |
| Missouri Local | 7.25% |
| Missouri PEERS | 8.00% |
| Missouri State Employees | 8.00% |
| Missouri Teachers | 8.00% |
| Montana PERS | 7.75% |
| Montana Teachers | 7.75% |
| Nebraska Schools | 8.00% |
| Nevada Police Officer and Firefighter | 8.00% |
| Nevada Regular Employees | 8.00% |
| New Hampshire Retirement System | 7.75% |
| New Jersey PERS | 7.95% |
| New Jersey Police & Fire | 7.95% |
| New Jersey Teachers | 7.95% |
| New Mexico PERF | 7.75% |
| New Mexico Teachers | 7.75% |
| New York City ERS | 8.00% |
| New York City Teachers | 8.00% |
| New York State Teachers | 8.00% |
| North Carolina Local Government | 7.25% |
| North Carolina Teachers and State Employees | 7.25% |
| North Dakota PERS | 8.00% |
| North Dakota Teachers | 8.00% |
| NY State & Local ERS | 7.50% |
| NY State & Local Police & Fire | 7.50% |
| Ohio PERS | 8.00% |
| Ohio Police & Fire | 8.25% |
| Ohio School Employees | 7.75% |
| Ohio Teachers | 7.75% |
| Oklahoma PERS | 7.50% |
| Oklahoma Teachers | 8.00% |
| Oregon PERS | 8.00% |
| Pennsylvania School Employees | 7.50% |
| Pennsylvania State ERS | 7.50% |
| Phoenix ERS | 8.00% |
| Rhode Island ERS /1 | 7.50% |
| Rhode Island Municipal /1 | 7.50% |
| San Diego County | 8.00% |
| San Francisco City & County | 7.66% |
| South Carolina Police | 7.50% |
| South Carolina RS | 7.50% |
| South Dakota PERS | 7.75% |
| St. Louis School Employees | 8.00% |
| St. Paul Teachers | 8.00% |
| Texas County & District | 8.00% |
| Texas ERS | 8.00% |
| Texas LECOS | 8.00% |
| Texas Municipal | 7.00% |
| Texas Teachers | 8.00% |
| TN Political Subdivisions | 7.50% |
| TN State and Teachers | 7.50% |
| Utah Noncontributory | 7.50% |
| Vermont State Employees | 8.10% |
| Vermont Teachers | 7.90% |
| Virginia Retirement System | 7.00% |
| Washington LEOFF Plan 1 | 7.90% |
| Washington LEOFF Plan 2 | 7.90% |
| Washington PERS 1 | 7.90% |
| Washington PERS 2/3 | 7.90% |
| Washington School Employees Plan 2/3 | 7.90% |
| Washington Teachers Plan 1 | 7.90% |
| Washington Teachers Plan 2/3 | 7.90% |
| West Virginia PERS | 7.50% |
| West Virginia Teachers | 7.50% |
| Wisconsin Retirement System | 7.20% |
| Wyoming Public Employees | 8.00% |
