Financial Reports & Policies

Investment Update

The City of Milwaukee Pension Fund reported a return of 10.0%, net of fees, in 2023. This return underperformed the Fund’s blended benchmark by -2.4%. Markets were volatile to start the year, but by the fourth quarter, falling inflation rates led to expectations the Fed would soon start to cut interest rates, leading to a strong rally in stocks and bonds. The Fund’s public equity allocation had a return of 21.0%, net of fees, for the full year. Fixed income was up 6.7%, net of fees. Absolute return was up 6.3%, net of fees. Private equity and real assets, which both report returns on a 1-quarter lag, had returns of 2.9% net of fees, and -7.2% net of fees, respectively. Within real assets, the higher level of interest rates, as well as vacancies in the office sector, both had negative impacts on valuations during the year. The value of the Fund on December 31, 2023, totaled approximately $5.71 billion.

Allocation March 31, 2023

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

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

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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