NYSTRS reported sustained and steady growth during a fiscal year shaped by market volatility, as highlighted in its recently released annual report.
The total portfolio returned 10.6%, net of fees, for the fiscal year ended June 30, 2025, according to NYSTRS’ 2025 Annual Comprehensive Financial Report (ACFR). Net assets reached $154.2 billion over that same period, up from $145.8 billion the previous fiscal year.
Two leading indicators of a pension plan’s strength are its funded ratio and long-term returns. NYSTRS’ funded ratio of 99.1% as of June 30, 2024, the most-recent calculation available, compares the actuarial value of assets to accrued benefit liability. The System’s 10- and 30-year annualized net rates of return were both 8.4%.
“As this annual report demonstrates, NYSTRS’ Board and staff are committed to fulfilling our mission: To provide our members with a secure pension,” NYSTRS Executive Director & CIO Thomas K. Lee said.
“The foundation on which our retirement system was built in 1921 remains solid today,” Lee continued. “Our focus on the stewardship of assets directly impacts nearly 460,000 members and beneficiaries who have the peace of mind of guaranteed income in retirement.”
NYSTRS paid out approximately $8.7 billion in benefits to members and beneficiaries in 2025, up from $8.4 billion in 2024 and $8.2 billion in 2023. Almost 80% of those benefits were paid to New York state residents, across each of the state’s 62 counties.
Published each December, the ACFR reviews the System’s financial statements, investment performance and membership statistics. By late December NYSTRS will also publish a 2025 Popular Annual Financial Report (PAFR), intended for general audiences that includes infographics summarizing the annual report’s findings. Both reports can be read at nystrs.org at the Library/Publications/Annual Reports page.
Visit the Infographics page to see snapshots of NYSTRS’ demographics and financial strength.
NYSTRS by the Numbers: Highlights from the 2025 Annual Report
- NYSTRS’ net assets reached $154.2 billion, up from $145.8 billion from the previous fiscal year.
- The System’s 10- and 30-year annualized net rates of return were both 8.4% as of the fiscal year ended June 30, 2025.
- The System paid out approximately $8.7 billion in benefits to members and beneficiaries, up from $8.4 billion and 8.2 billion in 2024 and 2023, respectively.
- Nearly 80% of benefits were paid to New York state residents across all 62 counties.
- The System serves 459,974 people, including 275,053 active members and 184,921 retired members and beneficiaries.
- From 1995 to 2025, investment income has made up 85% of NYSTRS’ funding. Employer and member contributions made up 13% and 2%, respectively.
- About 57% of System assets are managed internally, which keeps administrative costs low and leaves more money for benefits and investments.
