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As a precautionary measure related to COVID-19 and recent outbreaks, the ERS office is currently closed to the public.  All meetings and walk-ins are being cancelled at this time until further notice.


Please be advised that the ERS’s daily operations and services are NOT interrupted, including the processing of benefit-related updates and annuity payments.


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Investment Update

The City of Milwaukee Pension Fund had a return of -0.5%, net of fees, in the first quarter of 2022. Financial markets’ attention was focused on inflation, as the February consumer price index report showed an increase of 7.9% year over year, driven by continued supply chain disruptions, robust consumer demand as COVID lockups expired, and the war in Ukraine. This caused the Fed to raise interest rates, and the market to “price-in” further rate hikes throughout the year. Both stock and bond markets declined as a result. As of March 31, 2022, the Fund was outperforming its benchmark, net of fees, over numerous  time periods, including the trailing 1, 5, 10, 15, and 20-year time periods. The market value of the Fund on March 31, 2022 totaled approximately $6.16 billion.




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Last Update: 5/26/2022