Reports

Read the most recent ERS investment returns for each asset class over the past quarter, one-year, three-year, five-year time periods and since inception.

Access detailed quarterly investment performance reports, prepared by ERS’ investment consultant. They include information on current economic and market conditions, the Fund’s asset allocation, investment asset class returns and manager performance.

ERS annually participates in a survey of the largest American public pension funds, conducted by R.V. Kuhns.  

Each year, ERS has an actuarial valuation of the fund conducted.  The Actuary Reports can be found here. 

The Statement of Investment Policy reflects the investment policy, objectives and constraints of the City of Milwaukee Employes’ Retirement System and provides the Annuity and Pension Board with the parameters to invest the assets of the Fund.

An analysis was done to compare the performance of the Fund’s active managers versus the returns of an index fund. The results show that, over the last 10 years, the decision to invest actively has added an estimated $539.7 million to the Fund.

The Annual Report of the Annuity and Pension Board contains a condensed summary of the financial statements for the fiscal year being reported. It also lists the board members, officers and major consultants, including the investment managers.

Our Financial Statements present the financial position of the Employes’ Retirement System and the changes in net plan assets for the year then ended. They include the Statement of Net Plan Assets, Statement of Changes in Net Plan Assets, Explanatory Notes and Required Supplementary information.

The Actuarial Valuation is an assessment of the financial viability of the Employes' Retirement System. It evaluates the sufficiency of the assets and future earnings to provide the funding necessary to satisfy the obligations of the System. The valuation is based on the latest year end financial data of the System, and a set of assumptions such as assumed rates of returns on invested funds, salary increases and life expectancy.

Internal Audits

• Accounting and Financial Reporting Audit conducted by Jefferson Wells (3/2009)
• Benefit Calculation Audit conducted by Jefferson Wells (7/2009)
• Change Management Audit conducted by Jefferson Wells (10/2009)
• IT Governance Audit conducted by Jefferson Wells (2/2009)
• IT Risk Assessment Report conducted by Jefferson Wells (3/2010)
• Membership Services Audit conducted by Jefferson Wells (10/2010)
• Payroll Processing Audit conducted by Jefferson Wells (6/2010)
• Standard Policy Insurance Audit conducted by Jefferson Wells (6/2010)
• Vendor Management Audit conducted by Jefferson Wells (1/2009)