Georgia Teachers Retirement System
PensionGeorgia · as of 2024
AUM
$100B
Held in U.S. securities
$47B
47% of AUM
Return target
6.75%–7.25% nominal (assumed actuarial return)
Asset allocation policy
Target weights set by the board in the plan's Investment Policy Statement. Each class has a rebalancing range — drift outside the range triggers a rebalance.
| Asset class | Target | Range | $ value |
|---|---|---|---|
| Public equity | 47% | 40–55% | $47B |
| Fixed income | 22% | 15–30% | $22B |
| Private equity | 11% | 5–15% | $11B |
| Real estate / real assets | 9% | 5–15% | $9B |
| Hedge funds / other alternatives | 9% | 0–15% | $9B |
| Cash & short-term | 2% | 0–5% | $2B |
Holdings overview
Public equity is held mostly through index sleeves (S&P 500, Russell 3000, MSCI ACWI ex-U.S.) plus active mandates. Private market exposure is implemented through 50–150 fund commitments across vintages.
Board mandates
- Single statutory duty: pay current and future retirement benefits to plan members.
- Asset allocation set by the board within statutory limits; reviewed every 3–5 years.
- Most equity managed passively; alternatives accessed via external managers.
- Diversification and prudent-investor rules govern manager selection.
Source: www.nasra.org/publicfundsurvey
Note: this fund's detail uses a representative NASRA Public Fund Survey allocation as a stand-in. Actual targets and mandates may differ; we'll fill in plan-specific data as it's pulled from the most recent CAFR or annual report.