DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

State retirement system

Michigan Municipal Employees Retirement System (MERS)

State retirement systemmunicipalMI
Assets
$12B
Total assets, Jun 30, 2024 derived
Funded
n/a
not filed
Private markets target
n/a
no policy read
Commitments
0
none on the tape
Allocation policy
No allocation policy has been read for this allocator yet. Public systems get theirs from the ACFR; corporate plans from the sponsor’s 10-K; plans from Schedule H lines.
Consultants and advisers
No adviser relationship is on the tape for this allocator. Public systems name theirs in the ACFR; plans list them on Schedule C.
People
No investment staff or executives have been read for this allocator yet.
Manager roster
No manager relationship is on the tape for this allocator.
Commitments
No fund commitments are on the tape for this allocator. The tape holds the plans that publish their own private-markets reports; a plan that publishes one and is not here is a gap we can close.
Size and funding
57 readings
Total assets
$12B Jun 30, 2024 derived Census ASPP
$11B (2023-06) · $13B (2022-06)
Fiduciary net position
$57B Jun 30, 2024 reported Census ASPP
$59B (2023-06) · $49B (2022-06)
Long-term investments
$12B Jun 30, 2024 reported Census ASPP
$11B (2023-06) · $12B (2022-06)
Total pension liability
$929M Jun 30, 2024 derived Census ASPP
$-6.9B (2023-06) · $-3.7B (2022-06)
Discount rate
7.25% Jun 30, 2024 reported Census ASPP
7.25% (2023-06) · 7.60% (2022-06)
Participants
95,774 Jun 30, 2024 derived Census ASPP
96,979 (2023-06) · 96,107 (2022-06)
Active members
25,628 Jun 30, 2024 derived Census ASPP
26,320 (2023-06) · 27,139 (2022-06)
Beneficiaries
46,342 Jun 30, 2024 reported Census ASPP
45,185 (2023-06) · 44,320 (2022-06)
Benefits paid
$1.1B Jun 30, 2024 reported Census ASPP
$1.1B (2023-06) · $1.0B (2022-06)
Investment expense
$10.0M Jun 30, 2024 reported Census ASPP
$9.5M (2023-06) · $9.4M (2022-06)
What changed
4 events
  • Jun 30, 2024Assets changed
    Michigan Municipal Employees Retirement System (MERS) fiduciary net position $58.8B -> $56.7B (-3.6%, 2023-06-30 to 2024-06-30)
  • Jun 30, 2024Assets changed
    Michigan Municipal Employees Retirement System (MERS) total assets $10.9B -> $12.3B (+12.8%, 2023-06-30 to 2024-06-30)
  • Jun 30, 2023Assets changed
    Michigan Municipal Employees Retirement System (MERS) fiduciary net position $48.9B -> $58.8B (+20.3%, 2022-06-30 to 2023-06-30)
  • Jun 30, 2023Assets changed
    Michigan Municipal Employees Retirement System (MERS) total assets $12.5B -> $10.9B (-12.9%, 2022-06-30 to 2023-06-30)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: Census PID6 227935
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.