Investment Return Averages Compared to Assumed Rates of Return, 2006-2025

Equable Institute analysis of public plan valuation reports and ACFRs published as of June 2025. The average 10-year return for 2025 is based on actual reported returns and estimated returns as of June 30, 2025. The average assumed return for 2024 is based on reported changes to assumptions to-date. Read the report.
Chart: Anthony RandazzoSource: Equable InstituteGet the dataCreated with Datawrapper