OPERS 2025 Annual Investment Plan set

Document outlines system’s planned asset allocations and investment strategies

By Michael Pramik, Ohio Public Employees Retirement System

May 15, 2025 – The 2025 OPERS Annual Investment Plan has been posted to the OPERS website, showcasing strong performance results for 2024 and outlining key initiatives for the investment program moving forward.

This plan serves as the primary document through which OPERS staff outlines planned asset allocation and investment strategies. Notably, this year introduces a new category called risk mitigation strategies within the Defined Benefit and Health Care funds. This category includes the following sub-asset classes and their respective benchmarks:

• Long-Duration U.S. Treasuries: The Bloomberg U.S. Treasury 20+ Year Total Return Index.
• Trend-Following: The market-value weighted composite of the portfolio returns.
• Alternative Risk Premia: The market-value weighted composite of the portfolio returns.

The investment plan also details other planned asset allocation changes and excess return targets.

Final investment results for 2024 show that OPERS’ three investment funds achieved positive results:

• The OPERS Defined Benefit Fund delivered an 8.8% return on a net-of-fee basis, finishing with a market value of $104.1 billion.
• The OPERS Health Care Fund achieved a 10% return, ending 2024 with a market value of $13.4 billion.
• The OPERS Defined Contribution Fund had assets totaling $3.1 billion at the end of 2024, with each unique target-date fund and standalone funds achieving positive returns ranging between 2.9% and 24.5%.

Michael Pramik

Michael Pramik is communication strategist for the Ohio Public Employees Retirement System and editor of the PERSpective blog. As an experienced business journalist, he clarifies complex pension policies and helps members make smart choices to secure their retirement.