PSRS/PEERS* Asset Allocation

As of December 31, 2025

The time horizon of the Systems’ investment portfolio reflects the long-term nature of the PSRS/PEERS pension obligations. Accordingly, diversification among investments displaying unique risk and return characteristics provides the framework for selecting an asset allocation that is expected, in the aggregate, to give the funds the highest long-term return within a prudent risk level. The Board approved risk-based asset allocation consists of Public Risk Assets (U.S. Public Equity, Hedged Assets and Non-US Public Equity), Safe Assets (U.S. Treasuries, U.S. TIPS and Cash Equivalents) and Private Risk Assets (Private Equity, Private Real Estate and Private Credit). The Systems’ asset allocation is reviewed in conjunction with plan liabilities at least every five years.

* Effective July 1, 2013, all assets are held in the Missouri Education Pension Trust (MEPT) for the exclusive benefit of the Public School and Education Employee Retirement Systems of Missouri.