Reports

ERS Investment Returns are summarized in the following table:

ERS Returns for 1st Quarter 2012 (net of fees)
ERS Returns	1st Quarter 2012	1 Year	3 Year	5 Year	Since Inception
Total Fund	9.2%	3.2%	17.9%	1.8%	9.4%
Domestic Equities	13.6%	2.8%	24.4%	0.6%	4.4%
International Equities	13.1%	-3.1%	20.1%	-1.9%	6.7%
Global Equities	14.1%	-1.9%			5.0%
Fixed Income	2.5%	8.0%	14.8%	8.1%	8.1%
Private Equity	0.0%	-1.8%			0.6%
Real Estate	0.8%	12.2%	-4.7%	-5.2%	4.1%
Total Assets Under Management as of March 31, 2012 were $4,273,901,146

All returns over 1 year are annualized.
Private Equity and Real Estate returns are lagged 1-quarter.
Total assets under management per Northern Trust custodial reports.
Inception dates and benchmark data are listed in the detailed quarterly reports.
Past performance is no guarantee of future results.

Annual Reports of the Annuity and Pension Board

R. V. Kuhns Surveys

ERS annually participates in a survey of the largest public pension funds nationwide.

R.V. Kuhns Surveys can be viewed by clicking on the corresponding links below:

Financial Statements

Performance Reports

Detailed quarterly investment performance reports can be viewed by clicking on the corresponding link below:

2012	Quarter 1
2011	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2010	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2009	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2008	Quarter 1	Quarter 2	Quarter 3	Quarter 4

Actuary Reports

Policemen's Annuity and Benefit Fund of Milwaukee, (PABF)

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)

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