Financial Accounts of the United States - Z.1
L.120 State and Local Government Employee Retirement Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2016 | 2017 | 2018 | 2019 | 2019 Q1 | 2019 Q2 | 2019 Q3 | 2019 Q4 | 2020 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8357.6 | 8705.5 | 8988.1 | 9334.8 | 9091.0 | 9171.5 | 9243.9 | 9334.8 | 9358.4 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 40.6 | 30.2 | 28.9 | 31.6 | 31.0 | 29.0 | 28.2 | 31.6 | 39.5 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.9 | 2.5 | 2.2 | 2.4 | 2.3 | 2.2 | 2.1 | 2.4 | 2.5 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 65.1 | 62.1 | 61.0 | 66.3 | 65.1 | 61.1 | 59.5 | 66.3 | 82.8 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.9 | 4.7 | 4.6 | 5.0 | 4.9 | 4.6 | 4.5 | 5.0 | 5.3 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 892.9 | 955.0 | 988.7 | 1060.3 | 1031.4 | 1048.5 | 1054.4 | 1060.3 | 1112.7 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 56.2 | 54.0 | 52.8 | 57.7 | 56.6 | 52.9 | 51.4 | 57.7 | 57.1 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 218.8 | 289.4 | 372.8 | 383.3 | 390.6 | 399.6 | 384.6 | 383.3 | 417.3 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 100.4 | 109.5 | 143.7 | 147.7 | 150.6 | 154.0 | 148.3 | 147.7 | 166.8 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 2.6 | 3.4 | 4.1 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 2.4 | 10 |
| State and local government employee defined benefit retirement funds; corporate and foreign bonds; asset | LM223063045 | 514.9 | 498.8 | 415.3 | 468.4 | 430.3 | 438.6 | 466.8 | 468.4 | 469.1 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 14.5 | 6.9 | 12.5 | 13.1 | 13.1 | 12.9 | 14.1 | 13.1 | 13.5 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2321.5 | 2706.8 | 2531.8 | 2982.5 | 2711.1 | 2807.1 | 2816.3 | 2982.5 | 2248.1 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 417.1 | 481.3 | 469.1 | 552.6 | 502.1 | 518.2 | 501.6 | 552.6 | 451.6 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4598.1 | 4455.9 | 4889.3 | 4621.0 | 4729.9 | 4687.9 | 4763.3 | 4621.0 | 5402.3 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 221.9 | 240.2 | 239.0 | 260.0 | 251.0 | 255.3 | 255.3 | 260.0 | 257.8 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4221.7 | 4017.4 | 4446.2 | 4127.6 | 4267.0 | 4212.8 | 4300.0 | 4127.6 | 4927.8 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 154.4 | 198.3 | 204.2 | 233.4 | 211.9 | 219.8 | 208.0 | 233.4 | 216.8 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 8468.4 | 8790.4 | 9058.3 | 9414.9 | 9165.6 | 9248.4 | 9321.3 | 9414.9 | 9442.9 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8041.9 | 8323.2 | 8614.2 | 8906.4 | 8687.3 | 8760.3 | 8833.4 | 8906.4 | 8979.4 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 3820.2 | 4305.8 | 4168.0 | 4778.8 | 4420.2 | 4547.5 | 4533.3 | 4778.8 | 4051.6 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4221.7 | 4017.4 | 4446.2 | 4127.6 | 4267.0 | 4212.8 | 4300.0 | 4127.6 | 4927.8 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 7931.2 | 8238.3 | 8544.0 | 8826.3 | 8612.7 | 8683.5 | 8755.9 | 8826.3 | 8894.9 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 426.4 | 467.2 | 444.1 | 508.5 | 478.4 | 488.1 | 488.0 | 508.5 | 463.5 | 24 |
NOTES
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.
- Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
- Additional detail on defined benefit plans is available on table L.120.b.
- Additional detail on defined contribution plans is available on table L.120.c.
Last Update: June 11, 2020