AIC Celebrates National Retirement Security Week 2025
Marcie Frost, CEO of CalPERS: “[Private equity] is an asset class we have conviction in, and we think it will outperform the public markets over the long term, and why shouldn’t our members have access to those outsized returns?”
Washington, D.C. – The American Investment Council (AIC) today proudly joins in celebrating National Retirement Security Week (October 19–25) by highlighting how private equity investments strengthen retirement security for millions of Americans across the country.
- “Retirement systems and public pension funds nationwide continue to rely on private equity because it has outperformed every major asset class over the long term, offering steady, diversified, and robust returns,” said Will Dunham, President and CEO of the American Investment Council. “The recent Executive Order democratizing retirement saving gives every American the freedom and choice to invest in and benefit from private equity’s strong record of robust returns.”
Private equity continues to play a vital role in helping public pension funds deliver stronger, more consistent long-term returns according to AIC’s recently released 2025 Public Pension Study.
- Top Performing Asset Class – Private equity delivered a median annualized return of 13.5% over a 10-year period in 2024, higher than all other asset classes net-of-fees.
- 34 Million Public Sector Servants – More than 34 million police officers, firefighters, school teachers, and other public servants benefit from a public pension that has a portion of their portfolio invested in private equity.
- Confidence in the Future – More than 90% of institutional investors are planning to either increase or maintain their current allocations to private equity over the long term.
- Source of Diversification – Private equity provides investors with a stable source of diversification during periods of economic downturn. A study published by Cambridge Associates found that over the last decade, “institutions with higher private investment allocations experienced higher returns historically. And, those returns tended to be less volatile.”
But our retirement system can work even better. More than a third of retirees are considering going back to work because they lack the savings and most Americans cannot access private investments through their 401(k) plans.
President Trump’s recent Executive Order allowing Americans to invest in private assets, including private equity, through their 401(k)s is a great step that will help all Americans enjoy the same benefits of stronger returns and a secure retirement.
During National Retirement Security Week, the AIC reaffirms its commitment to helping ensure that retirees across America can look forward to a more secure financial future. To learn more, read the full 2025 Public Pension Study.
