University of California Basics

  • Established 1961
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, University of California, 2001-2023

Fiscal Year Net Assets (billions)
2001 38.87
2002 34.44
2003 35.33
2004 39.19
2005 41.86
2006 43.36
2007 48.11
2008 42.02
2009 32.26
2010 34.57
2011 41.87
2012 41.81
2013 45.34
2014 52.78
2015 55.06
2016 54.16
2017 62.11
2018 66.84
2019 70.34
2020 70.98
2021 91.83
2022 81.43
2023 88.26

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year University of California US State and Local Pensions
2001 3.2 2.4
2002 3.3 2.3
2003 3.2 2.2
2004 3.1 2.1
2005 3.0 2.1
2006 2.7 2.0
2007 2.5 2.0
2008 2.3 1.9
2009 2.2 1.9
2010 2.1 1.8
2011 2.1 1.7
2012 2.0 1.6
2013 1.9 1.5
2014 1.9 1.4
2015 1.8 1.4
2016 1.8 1.4
2017 1.8 1.4
2018 1.7 1.3
2019 1.6 1.3
2020 1.7 1.3
2021 1.6 1.2
2022 1.6 1.2
2023 1.6 1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for University of California, 2001-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 0.0 0.0 5.9 0.0
2002 0.0 0.0 5.6 0.0
2003 0.0 0.0 6.3 0.0
2004 0.0 0.0 7.8 0.0
2005 0.0 0.0 9.5 0.0
2006 0.0 0.0 10.5 0.0
2007 0.3 0.0 11.4 0.3
2008 0.0 0.0 11.9 0.0
2009 0.0 0.0 12.1 0.0
2010 1.9 19.3 14.7 21.2
2011 20.6 1.6 16.7 22.1
2012 21.5 2.4 17.7 24.0
2013 9.2 16.5 19.0 25.7
2014 17.0 9.6 19.8 26.6
2015 25.0 1.5 20.3 26.5
2016 23.6 0.8 20.4 24.4
2017 22.6 0.9 20.5 23.5
2018 21.0 1.4 20.9 22.4
2019 19.8 2.7 21.3 22.5
2020 18.7 0.6 20.5 19.3
2021 20.5 6.2 21.5 26.7
2022 20.8 5.9 21.6 26.7
2023 18.2 6.9 23.0 25.1

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for University of California, 2001-2023

Fiscal Year University of California National Data
2001 147.7 101.7
2002 138.4 94.6
2003 125.7 88.8
2004 117.9 87.0
2005 110.3 85.4
2006 104.1 85.2
2007 104.8 86.3
2008 103.0 84.4
2009 94.8 78.4
2010 86.7 75.7
2011 82.5 74.3
2012 78.7 72.3
2013 75.9 71.8
2014 80.0 73.2
2015 81.7 73.2
2016 82.6 71.6
2017 84.8 72.0
2018 86.6 72.4
2019 79.9 72.5
2020 78.8 72.6
2021 83.1 75.8
2022 83.5 76.2
2023 81.8 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for University of California, 2023

Category Percent
Equities 50.0
Fixed Income 13.0
Private Equity 11.0
Real Estate 10.0
Cash 0.0
Other 0.0
Commodities 16.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for University of California, 2001-2023

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 57.4 36.7 2.2 0.0 3.7 0.0 0.0 0.0 0.0
2002 60.6 36.5 1.5 0.0 1.4 0.0 0.0 0.0 0.0
2003 65.8 32.8 1.2 0.0 0.2 0.0 0.0 0.0 0.0
2004 65.0 33.3 1.4 0.0 0.3 0.0 0.0 0.0 0.0
2005 64.2 33.3 1.4 0.1 1.0 0.0 0.0 0.0 0.0
2006 68.5 28.7 1.9 0.5 0.4 0.0 0.0 0.0 0.0
2007 69.1 26.8 2.5 1.3 0.3 0.0 0.0 0.0 0.0
2008 61.8 30.7 4.1 2.6 0.8 0.0 0.0 0.0 0.0
2009 57.4 30.3 5.3 3.2 3.8 0.0 0.0 0.0 0.0
2010 60.1 29.1 6.7 2.7 1.3 0.0 0.0 0.0 0.0
2011 59.0 27.5 6.9 4.7 1.9 0.0 0.0 0.0 0.0
2012 55.6 29.8 8.0 5.0 1.6 0.0 0.0 0.0 0.0
2013 53.2 27.3 10.8 6.8 1.9 0.0 0.0 0.0 0.0
2014 55.9 26.0 9.3 7.0 1.8 0.0 0.0 0.0 0.0
2015 50.2 22.7 5.1 5.7 0.0 8.3 1.9 6.1 0.0
2016 46.8 24.3 4.8 6.5 0.0 7.5 1.7 8.4 0.0
2017 50.2 23.7 4.5 5.6 0.0 6.7 1.4 7.9 0.0
2018 49.6 24.3 4.7 6.0 0.0 7.2 1.7 6.6 0.0
2019 49.0 21.0 6.0 8.0 0.0 0.0 0.0 16.0 0.0
2020 54.0 18.0 7.0 7.0 0.0 0.0 0.0 14.0 0.0
2021 56.0 17.0 8.0 6.0 0.0 13.0 0.0 0.0 0.0
2022 53.0 14.0 11.0 9.0 0.0 13.0 0.0 0.0 0.0
2023 50.0 13.0 11.0 10.0 0.0 0.0 16.0 0.0 0.0

Source: Public Plans Database

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Annual Return as of June 30 for University of California, 2001-2023

Fiscal Year University of California Assumed return
2001 -5.50 7.50
2002 -9.20 7.50
2003 5.60 7.50
2004 14.30 7.50
2005 10.30 7.50
2006 7.10 7.50
2007 18.83 7.50
2008 -5.74 7.50
2009 -18.81 7.50
2010 12.72 7.50
2011 22.45 7.50
2012 0.37 7.50
2013 11.71 7.50
2014 17.42 7.50
2015 4.50 7.50
2016 -2.00 7.25
2017 14.50 7.25
2018 7.80 7.25
2019 6.00 6.75
2020 1.70 6.75
2021 30.50 6.75
2022 -10.80 6.75
2023 10.10 6.75

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
University of California
2001-2023

Fiscal Year Cash Flow Assets
2001 -899.1 38,869.9
2002 -967.4 34,441.8
2003 -1,007.4 35,326.8
2004 -1,137.8 39,187.7
2005 -1,313.1 41,857.5
2006 -1,472.9 43,362.2
2007 -3,172.8 48,105.3
2008 -3,488.4 42,023.2
2009 -1,859.7 32,258.5
2010 -1,838.4 34,574.5
2011 -331.5 41,872.7
2012 -182.0 41,806.5
2013 -1,299.1 45,340.7
2014 -566.8 52,783.9
2015 277.8 55,055.4
2016 213.7 54,164.5
2017 83.4 62,114.3
2018 -182.8 66,838.8
2019 -517.4 70,343.7
2020 -551.8 70,977.9
2021 -609.5 91,826.0
2022 -624.2 81,428.0
2023 -867.5 88,262.8

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
University of California
2001-2023

Fiscal Year University of California National Average
2001 -2.3 -2.0
2002 -2.8 -2.4
2003 -2.9 -2.5
2004 -2.9 -1.8
2005 -3.1 -2.2
2006 -3.4 -2.2
2007 -6.6 -2.0
2008 -8.3 -2.1
2009 -5.8 -3.1
2010 -5.3 -3.2
2011 -0.8 -3.0
2012 -0.4 -3.2
2013 -2.9 -3.1
2014 -1.1 -2.9
2015 0.5 -2.7
2016 0.4 -2.9
2017 0.1 -2.8
2018 -0.3 -2.4
2019 -0.7 -2.4
2020 -0.8 -2.3
2021 -0.7 -2.0
2022 -0.8 -1.9
2023 -1.0 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for University of California benefit descriptions.