Financial Reports & Policies

Investment Update

The City of Milwaukee Pension Fund had a return of 2.8%, net of fees, in the first quarter of 2024. This return underperformed the Fund’s blended benchmark by approximately 1.1%. The economy remained strong in the first quarter, with job growth coming in much higher than expectations. Strong jobs growth, combined with inflation data that came in slightly higher than expected, pushed out expectations for the first Fed rate cut, causing interest rates to rise. Enthusiasm for artificial intelligence companies supported the stock market. Against this backdrop, the Fund’s public equity allocation performed well, up 7.5%, net of fees, for the quarter. The Fund’s fixed income allocation fell -0.3%, net of fees, as interest rates rose. The Fund’s absolute return allocation had a strong quarter, up 3.5%, net of fees. As of March 31, 2024, the Fund was outperforming its benchmark, net of fees, over numerous longer time periods, including the trailing 3, 5, 10, 15, and 20-year time periods. The market value of the Fund on March 31, 2024 totaled approximately $5.97 billion.

Allocation March 31, 2024

Financial Reports

Annuity & Pension Board's Report

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

 
Actuarial Valuations

ERS - 2023

ERS - 2022

ERS - 2021

ERS - 2020

ERS - 2019

ERS - 2018

ERS - 2017          PABF - 2017

ERS - 2016          PABF - 2016

ERS - 2015          PABF - 2015

ERS - 2014          PABF - 2014

ERS - 2013          PABF - 2013

ERS - 2012          PABF - 2012

ERS - 2011          PABF - 2011

 

Capital Market Summaries

2024: 1Q

2023: 1Q    2Q    3Q    4Q

2022: 1Q    2Q    3Q    4Q

2021: 1Q    2Q    3Q    4Q

2020: 1Q    2Q    3Q    4Q

2019: 1Q    2Q    3Q    4Q

2018: 1Q    2Q    3Q    4Q

2017: 1Q    2Q    3Q    4Q

2016: 1Q    2Q    3Q    4Q

 

GASB 67 Plan Reports

2022

2021

2020

2019

2018

 

Note: Prior to 2018, GASB 67 Plan Reports were included as a part of our actuarial valuations.

Annual Comprehensive Financial Reports / Financial Statements

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

 
Schedules of Employer Allocations and Pension Amounts

2022

2021

2020

2019

2018

2017

2016

2015

2014

 
Report on Internal Controls

2022

2021

2020

2019

2018

2017

2016

 

Kuhns' Survey of Large Pension Funds

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

 

Performance Reports

2023: 1Q    2Q    3Q    4Q

2022: 1Q    2Q    3Q    4Q

2021: 1Q    2Q    3Q    4Q

2020: 1Q    2Q    3Q    4Q

2019: 1Q    2Q    3Q    4Q

2018: 1Q    2Q    3Q    4Q

2017: 1Q    2Q    3Q    4Q

2016: 1Q    2Q    3Q    4Q

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