Public Pension Funds Report Major Gains with Recruitment and Retention, New Survey Shows
Media Contact: Lizzy Lees, NCPERS, llees@ncpers.org
September 30, 2025, WASHINGTON, D.C. – Public pension funds are reporting significant progress in overcoming recruitment and retention challenges, even as salary growth stabilizes following a post-pandemic correction, according to new data from the National Conference on Public Employee Retirement Systems (NCPERS) and CBIZ.
The 2025 Public Pension Compensation Survey reveals that 57.0 percent of public pension funds now report no issues attracting or retaining skilled staff—up nearly 20 percentage points from 2022. This marks a major shift in workforce dynamics and reflects the sector's growing ability to compete for talent.
“This year's survey highlights a turning point for public pensions,” said Hank Kim, executive director for NCPERS. “After years of struggling to recruit and retain staff, funds are now seeing the results of strategic investments in compensation, benefits, and workplace flexibility.”
Nearly 170 public pension funds participated in the survey from April to July. Respondents collectively manage $6 trillion in assets on behalf of 25,637,516 active and retired members. These organizations employ more than 21,000 staff, with the median respondent operating with 37 full-time employees and $9 billion in assets.
The 2025 Public Pension Compensation Survey, conducted by NCPERS and CBIZ, captured compensation data for 90 common positions at public pensions, as well as insights into compensation philosophy practices, bonuses, benefits, and salary increase planning.
NCPERS will host a free webinar on October 7th to highlight the results of the survey and discuss the public pension industry's compensation and benefits landscape. Key findings from the survey include:
- Recruitment & Retention Improves: 57.0 percent of funds report no issues attracting or retaining skilled staff, up from 38.0 percent in 2022.
- Employee Tenure Remains Strong: Median tenure across all roles is 6.2 years, nearly double that of the private sector.
- Salary Growth Slows: Following a post-pandemic correction, base salary growth has slowed. The average overall salary budget increase (as a percentage of total employee salaries) was 4.7 percent for the most recent fiscal year, with an average budgeted increase of 4.1 percent for the coming fiscal year.
- Compensation Philosophy Drives Strategy: Four out of five funds use a formal compensation philosophy to guide decisions, with 78.0 percent tying their compensation philosophy to the 50th base salary market percentile.
- Flexible Work is Here to Stay: While there was a slight decline from the year before, 74.6 percent of funds now offer flexible schedules, and 71.0 percent provide remote work options.
The survey results are now available via a digital report and accompanying interactive dashboard. The dashboard enables organizations to filter the data in a number of ways—such as region, number of fund staff, or assets under management—to help optimize the mix of funds to which they would like to compare themselves. Learn more and order your copy today.
About NCPERS
Established in 1941, the National Conference on Public Employee Retirement Systems (NCPERS) is the largest trade association working on behalf of public sector retirement systems. Organized as a 501(c)(3) nonprofit organization with a diverse membership that includes 500 plans, plan sponsors, and stakeholders who collectively oversee approximately $6 trillion in retirement funds, NCPERS works to protect and expand pension access through essential education, innovative research, and unwavering advocacy. From the largest statewide systems to the smallest local funds, NCPERS members make possible the work to safeguard the retirement security of more than 20 million teachers, police, firefighters, and other public servants.
About CBIZ
CBIZ, Inc. (NYSE: CBZ) is a leading professional services advisor to middle market businesses and organizations nationwide. With unmatched industry knowledge and expertise in accounting, tax, advisory, benefits, insurance, and technology, CBIZ delivers forward-thinking insights and actionable solutions to help clients anticipate what's next and discover new ways to accelerate growth. CBIZ has more than 10,000 team members across more than 160 locations in 22 major markets coast to coast. For more information, visit www.cbiz.com.
CBIZ's Compensation Consulting and Talent Solutions (formerly EFL Associates) teams have deep roots working with public pension funds. The Compensation Consulting team has a track record of working with public pension funds to benchmark market-competitive compensation and design compensation programs that are aligned with the compensation philosophy and help achieve total rewards goals and objectives. Talent Solutions has successfully completed more public pension leadership and investment management searches than any firm in the country.