| 1 | California Public Employees Retirement System (CalPERS) State of California | CA | 2,050,000 | 67.3% | $230.0B | C |
| 2 | Teacher Retirement System of Texas (TRS) State of Texas | TX | 1,730,000 | 78.1% | $54.0B | B |
| 3 | New York State & Local Retirement System (NYSLRS) State of New York | NY | 1,070,000 | 95.3% | $12.2B | A |
| 4 | Florida Retirement System (FRS) State of Florida | FL | 1,065,000 | 82.2% | $41.1B | B |
| 5 | California State Teachers Retirement System (CalSTRS) State of California | CA | 985,000 | 72.9% | $118.0B | B |
| 6 | North Carolina Retirement Systems State of North Carolina | NC | 960,000 | 87.1% | $16.6B | A |
| 7 | Ohio Public Employees Retirement System (OPERS) State of Ohio | OH | 762,000 | 82.5% | $22.3B | A |
| 8 | Virginia Retirement System (VRS) State of Virginia | VA | 740,000 | 75.1% | $28.8B | B |
| 9 | Wisconsin Retirement System (WRS) State of Wisconsin | WI | 665,000 | 98.4% | $2.0B | A |
| 10 | Colorado Public Employees Retirement Association (PERA) State of Colorado | CO | 625,000 | 64.8% | $31.5B | C |
| 11 | Arizona State Retirement System (ASRS) State of Arizona | AZ | 588,000 | 72.3% | $17.6B | B |
| 12 | South Carolina Retirement System State of South Carolina | SC | 575,000 | 55.1% | $28.9B | C |
| 13 | Washington State Department of Retirement Systems State of Washington | WA | 528,000 | 87.8% | $15.0B | A |
| 14 | Pennsylvania Public School Employees Retirement System (PSERS) State of Pennsylvania | PA | 518,000 | 57.8% | $52.6B | C |
| 15 | State Teachers Retirement System of Ohio (STRS Ohio) State of Ohio | OH | 507,000 | 80.2% | $22.2B | A |
| 16 | Michigan Public School Employees Retirement System (MPSERS) State of Michigan | MI | 465,000 | 60.4% | $35.4B | C |
| 17 | Illinois Municipal Retirement Fund (IMRF) State of Illinois | IL | 438,000 | 81.2% | $11.9B | A |
| 18 | New York State Teachers Retirement System (NYSTRS) State of New York | NY | 433,000 | 97.1% | $3.9B | A |
| 19 | New Jersey Public Employees Retirement System (PERS) State of New Jersey | NJ | 425,000 | 52.3% | $31.0B | C |
| 20 | Indiana Public Retirement System (INPRS) State of Indiana | IN | 425,000 | 78.2% | $10.3B | B |
| 21 | Illinois Teachers Retirement System (TRS) State of Illinois | IL | 424,000 | 44.7% | $77.7B | D |
| 22 | Georgia Teachers Retirement System (TRS) State of Georgia | GA | 405,000 | 77.4% | $21.6B | B |
| 23 | Maryland State Retirement & Pension System State of Maryland | MD | 398,000 | 72.1% | $23.6B | B |
| 24 | Texas County & District Retirement System (TCDRS) Texas Counties | TX | 385,000 | 86.2% | $6.3B | A |
| 25 | Tennessee Consolidated Retirement System (TCRS) State of Tennessee | TN | 378,000 | 92.1% | $4.9B | A |
| 26 | Minnesota Public Employees Retirement Association (PERA) State of Minnesota | MN | 378,000 | 79.1% | $9.2B | B |
| 27 | Oregon Public Employees Retirement System (PERS) State of Oregon | OR | 375,000 | 77.3% | $24.7B | B |
| 28 | Iowa Public Employees Retirement System (IPERS) State of Iowa | IA | 372,000 | 84.8% | $6.4B | A |
| 29 | NYC Employees Retirement System (NYCERS) New York City | NY | 370,000 | 76.8% | $23.3B | B |
| 30 | Kansas Public Employees Retirement System (KPERS) State of Kansas | KS | 328,000 | 72.3% | $9.5B | B |
| 31 | Employees Retirement System of Texas (ERS) State of Texas | TX | 327,000 | 70.1% | $13.4B | B |
| 32 | Mississippi Public Employees Retirement System (PERS) State of Mississippi | MS | 322,000 | 60.1% | $19.3B | C |
| 33 | University of California Retirement Plan University of California | CA | 305,000 | 83.5% | $16.2B | B |
| 34 | New Jersey Teachers Pension & Annuity Fund (TPAF) State of New Jersey | NJ | 268,000 | 48.1% | $30.8B | C |
| 35 | Pennsylvania State Employees Retirement System (SERS) State of Pennsylvania | PA | 245,000 | 63.1% | $21.2B | C |
| 36 | NYC Teachers Retirement System (TRS) New York City | NY | 225,000 | 74.2% | $32.0B | B |
| 37 | Missouri Public School Retirement System (PSRS) State of Missouri | MO | 220,000 | 83.8% | $9.1B | A |
| 38 | State Universities Retirement System of Illinois (SURS) State of Illinois | IL | 218,000 | 44.1% | $28.5B | D |
| 39 | Texas Municipal Retirement System (TMRS) Texas Cities | TX | 218,000 | 87.8% | $5.1B | A |
| 40 | School Employees Retirement System of Ohio (SERS) State of Ohio | OH | 218,000 | 67.9% | $7.7B | B |
| 41 | Utah Retirement Systems (URS) State of Utah | UT | 218,000 | 90.3% | $4.3B | A |
| 42 | Nevada Public Employees Retirement System (PERS) State of Nevada | NV | 218,000 | 76.2% | $15.7B | B |
| 43 | Minnesota Teachers Retirement Association (TRA) State of Minnesota | MN | 195,000 | 79.8% | $7.1B | B |
| 44 | Los Angeles County Employees Retirement Association (LACERA) Los Angeles County | CA | 186,000 | 75.2% | $24.2B | B |
| 45 | Kentucky County Employees Retirement System (CERS) State of Kentucky | KY | 185,000 | 48.4% | $9.1B | C |
| 46 | Alabama Teachers Retirement System (TRS) State of Alabama | AL | 178,000 | 68.2% | $12.8B | B |
| 47 | Teachers Retirement System of Louisiana (TRSL) State of Louisiana | LA | 172,000 | 66.1% | $11.0B | C |
| 48 | Oklahoma Teachers Retirement System State of Oklahoma | OK | 162,000 | 67.8% | $8.6B | B |
| 49 | State Employees Retirement System of Illinois (SERS) State of Illinois | IL | 152,000 | 40.4% | $29.2B | D |
| 50 | Kentucky Teachers Retirement System (KTRS) State of Kentucky | KY | 152,000 | 55.3% | $17.0B | C |
| 51 | Kentucky Employees Retirement System (KERS) State of Kentucky | KY | 142,000 | 20.4% | $28.1B | F |
| 52 | Idaho Public Employee Retirement System (PERSI) State of Idaho | ID | 142,000 | 88.2% | $2.8B | A |
| 53 | Georgia Employees Retirement System (ERS) State of Georgia | GA | 138,000 | 77.2% | $5.3B | B |
| 54 | Alabama Employees Retirement System (ERS) State of Alabama | AL | 132,000 | 69.8% | $6.7B | B |
| 55 | Hawaii Employees Retirement System (ERS) State of Hawaii | HI | 132,000 | 59.8% | $13.4B | C |
| 56 | Missouri State Employees Retirement System (MOSERS) State of Missouri | MO | 120,000 | 72.2% | $3.7B | B |
| 57 | Connecticut State Employees Retirement System (SERS) State of Connecticut | CT | 112,000 | 38.2% | $23.0B | D |
| 58 | Minnesota State Retirement System (MSRS) State of Minnesota | MN | 112,000 | 77.3% | $4.3B | B |
| 59 | Arkansas Teacher Retirement System (ATRS) State of Arkansas | AR | 112,000 | 71.9% | $7.2B | B |
| 60 | Nebraska Public Employees Retirement Systems State of Nebraska | NE | 110,000 | 87.9% | $2.1B | A |
| 61 | Louisiana State Employees Retirement System (LASERS) State of Louisiana | LA | 108,000 | 62.2% | $6.8B | C |
| 62 | New Mexico Public Employees Retirement Association (PERA) State of New Mexico | NM | 108,000 | 67.9% | $7.7B | B |
| 63 | Massachusetts Teachers Retirement System State of Massachusetts | MA | 102,000 | 55.2% | $18.7B | C |
| 64 | Massachusetts State Employees Retirement System State of Massachusetts | MA | 98,000 | 64.9% | $5.1B | C |
| 65 | Arkansas Public Employees Retirement System (APERS) State of Arkansas | AR | 98,000 | 74.8% | $3.2B | B |
| 66 | Connecticut Teachers Retirement Board State of Connecticut | CT | 92,000 | 52.3% | $18.7B | C |
| 67 | New Mexico Educational Retirement Board (ERB) State of New Mexico | NM | 92,000 | 64.1% | $8.1B | C |
| 68 | Michigan State Employees Retirement System State of Michigan | MI | 88,000 | 61.8% | $7.5B | C |
| 69 | New Jersey Police & Firemen's Retirement System (PFRS) State of New Jersey | NJ | 88,000 | 58.1% | $21.6B | C |
| 70 | Oklahoma Public Employees Retirement System (OPERS) State of Oklahoma | OK | 88,000 | 70.3% | $4.3B | B |
| 71 | South Dakota Retirement System (SDRS) State of South Dakota | SD | 78,000 | 96.8% | $500.0M | A |
| 72 | Maine Public Employees Retirement System (MainePERS) State of Maine | ME | 76,000 | 80.2% | $4.1B | B |
| 73 | New Hampshire Retirement System (NHRS) State of New Hampshire | NH | 72,000 | 65.1% | $5.3B | C |
| 74 | Chicago Teachers Pension Fund City of Chicago | IL | 69,000 | 42.8% | $16.6B | D |
| 75 | San Francisco Employees Retirement System City and County of San Francisco | CA | 68,000 | 87.3% | $4.9B | A |
| 76 | Montana Public Employee Retirement Administration (MPERA) State of Montana | MT | 65,000 | 75.2% | $4.1B | B |
| 77 | Philadelphia Municipal Retirement System City of Philadelphia | PA | 63,000 | 48.2% | $6.2B | C |
| 78 | Delaware Public Employees Retirement System (DPERS) State of Delaware | DE | 62,000 | 82.1% | $2.4B | B |
| 79 | NYC Police Pension Fund New York City | NY | 60,000 | 78.3% | $13.6B | B |
| 80 | West Virginia Public Employees Retirement System State of West Virginia | WV | 60,000 | 78.1% | $1.7B | B |
| 81 | Chicago Municipal Employees Annuity & Benefit Fund City of Chicago | IL | 59,000 | 25.3% | $18.0B | F |
| 82 | Ohio Police & Fire Pension Fund (OP&F) State of Ohio | OH | 56,000 | 73.8% | $6.2B | B |
| 83 | Rhode Island Employees Retirement System (ERSRI) State of Rhode Island | RI | 55,000 | 58.1% | $6.9B | C |
| 84 | Los Angeles City Employees Retirement System (LACERS) City of Los Angeles | CA | 49,000 | 75.8% | $6.4B | B |
| 85 | Orange County Employees Retirement System (OCERS) Orange County | CA | 46,000 | 76.2% | $6.4B | B |
| 86 | West Virginia Teachers Retirement System State of West Virginia | WV | 45,000 | 68.3% | $2.7B | B |
| 87 | North Dakota Public Employees Retirement System (NDPERS) State of North Dakota | ND | 44,000 | 68.3% | $1.9B | B |
| 88 | Wyoming Retirement System (WRS) State of Wyoming | WY | 38,000 | 77.8% | $2.3B | B |
| 89 | Alaska Public Employees Retirement System (PERS) State of Alaska | AK | 38,000 | 67.8% | $3.4B | B |
| 90 | Chicago Policemen's Annuity & Benefit Fund City of Chicago | IL | 31,000 | 23.3% | $15.8B | F |
| 91 | NYC Fire Department Pension Fund New York City | NY | 28,000 | 76.2% | $5.5B | B |
| 92 | Houston Municipal Employees Pension System City of Houston | TX | 28,000 | 58.2% | $3.2B | C |
| 93 | Los Angeles Fire & Police Pensions (LAFPP) City of Los Angeles | CA | 27,500 | 89.5% | $3.7B | A |
| 94 | Sacramento County Employees Retirement System (SCERS) Sacramento County | CA | 27,000 | 80.2% | $2.9B | B |
| 95 | Vermont State Teachers Retirement System State of Vermont | VT | 27,000 | 54.8% | $1.8B | C |
| 96 | Alaska Teachers Retirement System (TRS) State of Alaska | AK | 27,000 | 62.2% | $3.1B | C |
| 97 | Contra Costa County Employees Retirement Association Contra Costa County | CA | 23,000 | 78.3% | $2.8B | B |
| 98 | Vermont State Employees Retirement System State of Vermont | VT | 22,000 | 67.9% | $1.1B | B |
| 99 | Denver Employees Retirement Plan City of Denver | CO | 21,000 | 79.2% | $1.3B | B |
| 100 | San Diego City Employees Retirement System (SDCERS) City of San Diego | CA | 20,500 | 73.3% | $3.7B | B |