Planning for retirement is one of the most important steps in a person’s life. For millions of Americans, especially those working in public service, pension funds offer a strong foundation for a secure and reliable retirement. These funds are responsible for managing and investing the money that workers and employers contribute throughout an employee’s career.
In the United States, public pension funds are known to be the best option that serves a wide range of professionals such as teachers, police officers, firefighters, federal workers, and many others. These funds are managed by government agencies and are supported by state or federal laws to ensure retirees receive the accurate benefits they are promised.
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Top Pension Funds in the United States
Here are the top five pension funds in the United States based on their assets according to the New York State Teacher’s Retirement System.
| Rank | Organisation | Assets (In Millions) | Change | Headquarters |
| 1 | Federal Retirement Thrift | $954,255 | 21.90% | Washington, DC |
| 2 | California Public Employees | $541,965 | 19.80% | Sacramento, CA |
| 3 | California State Teachers | $354,170 | 14.30% | West Sacramento, California |
| 4 | New York City Retirement | $285,522 | 15.10% | New York |
| 5 | New York State Common | $274,682 | 11.50% | Albany, New York |
1. Federal Retirement Thrift Investment Board (FRTIB)
The FRTIB was established in 1986 as an independent agency by the Federal Employees' Retirement System Act of 1986. As of 2025, The pension fund carries a total asset of $954,255 million and stands as the largest retirement fund in the U.S. The organisation offers various investment options that includes government securities and index funds and provides federal workers with a low-cost retirement savings plan.
2. California Public Employees’ Retirement System (CalPERS)
CalPERS is the second largest public pension fund in the United States. It was established in 1932 and provides retirement and health benefits to California’s public employees. CalPERS is known for its significant influence in corporate governance and its diversified investment portfolio, which includes stocks, bonds, real estate, and private equity. The current asset value of the organisation stands at $541,965 million.
3. California State Teachers’ Retirement System (CalSTRS)
CalSTRS is the largest teachers’ retirement fund in the U.S. and takes the 3rd spot in the list. It provides retirement, disability, and survivor benefits to California’s educators. The organisation’s assets reach $354,170 million and it is located in West Sacramento.
4. New York City Retirement Systems (NYCRS)
NYCRS comprises several pension funds that serve New York City employees. Collectively, they form one of the largest municipal pension systems in the U.S and their assets reach $285,522 million.The funds invest in a diversified portfolio to meet the retirement needs of city workers.
5. New York State Common Retirement Fund (NYSCRF)
NYSCRF is one of the largest public pension funds in the U.S. and ranks 5th in the list. The organisation provides retirement benefits to state and local government employees. The fund emphasizes responsible investing and has initiatives focused on sustainable investments. The current assets of the organisation are $274,682 million.
These top five public pension funds are vital to the financial security of millions of Americans. Their prudent management and investment strategies aim to ensure that retirees receive the benefits they have earned through years of public service.
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