California’s public pension investment returns declined to $24.9 billion in 2024 from $26.6 billion in 2023, based on data from the U.S. Census Bureau’s Annual Survey of Public Pensions.
The U.S. Census Bureau’s Annual Survey of Public Pensions addresses defined-benefit pension programs run by recognized governmental entities that employ public workers paid with public funds. The survey’s definition of local governments encompasses counties, municipalities, townships, school districts, and special districts.
This survey collects figures on revenues, outlays, financial holdings, and system membership for these pensions. More detailed questionnaires may also obtain additional data, such as outstanding liabilities.
Some survey participants do not submit comprehensive data for each reporting category; differing response rates by field can impact the completeness of published statistics.
As of 2025, nine states forgo a broad personal income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, noting some exceptions for investment or capital gains tax in New Hampshire and Washington.
California’s report included data from 83 distinct pension systems, which breaks down as 10 state-level funds and 73 local pensions. These plans reported a combined membership of 4,627,077—composed of 3,724,926 at the state level and 902,151 locally.
This article’s information comes from the U.S. Census Bureau’s Annual Survey of Public Pensions. The original data source can be found here.
