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 | 2017 | 2018 | 2019 | 2019 Q1 | 2019 Q2 | 2019 Q3 | 2019 Q4 | 2020 Q1 | 2020 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8705.2 | 8931.6 | 9201.9 | 8971.0 | 9057.1 | 9111.4 | 9201.9 | 9214.5 | 9325.9 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 30.2 | 28.6 | 20.6 | 19.5 | 25.4 | 26.8 | 20.6 | 20.5 | 20.8 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.5 | 2.2 | 4.6 | 0.0 | 1.6 | 1.9 | 4.6 | 4.6 | 5.8 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 62.1 | 59.7 | 20.6 | 24.2 | 18.2 | 19.0 | 20.6 | 29.9 | 31.3 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.7 | 4.5 | 7.2 | 3.7 | 3.5 | 11.7 | 7.2 | 7.1 | 7.9 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 955.0 | 975.6 | 955.5 | 1024.4 | 1007.7 | 1006.8 | 955.5 | 971.2 | 951.9 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 54.0 | 52.1 | 11.1 | 19.7 | 17.9 | 11.8 | 11.1 | 14.9 | 13.7 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 289.4 | 367.9 | 353.0 | 358.9 | 388.8 | 349.0 | 353.0 | 352.1 | 337.6 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 109.5 | 141.8 | 170.5 | 144.8 | 153.2 | 179.0 | 170.5 | 181.3 | 160.7 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 3.4 | 4.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 10 |
| State and local government employee defined benefit retirement funds; corporate and foreign bonds; asset | LM223063045 | 498.8 | 409.8 | 420.9 | 501.0 | 447.8 | 467.0 | 420.9 | 422.9 | 439.9 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 6.9 | 12.3 | 8.7 | 9.7 | 9.4 | 9.2 | 8.7 | 9.7 | 9.6 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2706.8 | 2478.6 | 2498.4 | 2417.1 | 2505.7 | 2394.2 | 2498.4 | 2151.2 | 2553.3 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 481.3 | 445.0 | 378.8 | 322.5 | 357.6 | 388.5 | 378.8 | 301.3 | 351.2 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4455.6 | 4925.1 | 5307.6 | 5149.9 | 5128.0 | 5253.3 | 5307.6 | 5719.0 | 5394.1 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 240.2 | 233.4 | 253.7 | 245.2 | 249.3 | 249.0 | 253.7 | 232.0 | 245.1 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4017.1 | 4491.6 | 4246.3 | 4354.0 | 4245.9 | 4334.1 | 4246.3 | 4796.8 | 4335.3 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 198.3 | 200.0 | 807.6 | 550.6 | 632.8 | 670.1 | 807.6 | 690.2 | 813.7 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 8790.1 | 9000.9 | 9326.6 | 9098.7 | 9174.0 | 9240.9 | 9326.6 | 9331.8 | 9439.2 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8322.9 | 8584.8 | 8850.8 | 8650.7 | 8717.1 | 8784.1 | 8850.8 | 8917.6 | 8984.4 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4305.8 | 4093.2 | 4604.5 | 4296.7 | 4471.2 | 4450.0 | 4604.5 | 4120.9 | 4649.0 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4017.1 | 4491.6 | 4246.3 | 4354.0 | 4245.9 | 4334.1 | 4246.3 | 4796.8 | 4335.3 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8238.0 | 8515.6 | 8726.1 | 8523.0 | 8600.3 | 8654.6 | 8726.1 | 8800.3 | 8871.1 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 467.2 | 416.0 | 475.8 | 448.0 | 456.9 | 456.8 | 475.8 | 414.2 | 454.8 | 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: September 21, 2020