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 | 2018 | 2019 | 2019 Q1 | 2019 Q2 | 2019 Q3 | 2019 Q4 | 2020 Q1 | 2020 Q2 | 2020 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8939.1 | 9208.4 | 8971.0 | 9057.2 | 9116.8 | 9208.4 | 9242.6 | 9337.8 | 9422.2 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.6 | 20.2 | 19.5 | 25.4 | 27.0 | 20.2 | 22.7 | 17.0 | 14.9 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.2 | 4.3 | 0.0 | 1.6 | 1.8 | 4.3 | 4.0 | 3.3 | 3.7 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 59.7 | 20.0 | 24.2 | 18.2 | 18.7 | 20.0 | 28.5 | 28.9 | 31.4 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.5 | 6.7 | 3.7 | 3.5 | 11.2 | 6.7 | 6.1 | 4.7 | 5.0 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 975.6 | 1029.3 | 1024.4 | 1007.7 | 1069.8 | 1029.3 | 1021.1 | 995.6 | 975.5 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 52.1 | 10.4 | 19.7 | 17.9 | 11.4 | 10.4 | 13.2 | 5.7 | 2.7 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 367.9 | 368.2 | 358.9 | 388.8 | 370.1 | 368.2 | 352.1 | 261.9 | 222.0 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 141.8 | 160.3 | 144.8 | 153.2 | 171.6 | 160.3 | 169.7 | 207.7 | 216.6 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 4.0 | 0.0 | 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 | 409.8 | 490.5 | 501.0 | 447.8 | 516.7 | 490.5 | 486.1 | 520.3 | 534.2 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 12.3 | 8.1 | 9.7 | 9.4 | 8.8 | 8.1 | 8.4 | 9.5 | 9.5 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2478.6 | 2550.9 | 2417.1 | 2505.7 | 2441.8 | 2550.9 | 2163.9 | 2340.4 | 2458.1 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 445.0 | 367.8 | 322.5 | 357.6 | 383.3 | 367.8 | 298.1 | 372.7 | 395.9 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4932.6 | 5201.0 | 5149.9 | 5128.0 | 5154.4 | 5201.0 | 5689.8 | 5565.7 | 5528.2 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 240.9 | 253.8 | 245.2 | 249.3 | 249.1 | 253.8 | 247.0 | 255.6 | 259.3 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4491.6 | 4090.1 | 4354.0 | 4245.9 | 4191.8 | 4090.1 | 4665.3 | 4407.1 | 4268.4 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 200.0 | 857.1 | 550.6 | 632.8 | 713.5 | 857.1 | 777.5 | 903.1 | 1000.5 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 9008.4 | 9326.6 | 9098.7 | 9174.0 | 9240.9 | 9326.6 | 9346.8 | 9452.6 | 9535.0 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8584.8 | 8850.8 | 8650.7 | 8717.1 | 8784.1 | 8850.8 | 8917.6 | 8984.4 | 9051.1 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4093.2 | 4760.7 | 4296.7 | 4471.2 | 4592.3 | 4760.7 | 4252.3 | 4577.3 | 4782.7 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4491.6 | 4090.1 | 4354.0 | 4245.9 | 4191.8 | 4090.1 | 4665.3 | 4407.1 | 4268.4 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8515.6 | 8732.6 | 8523.0 | 8600.3 | 8660.0 | 8732.6 | 8813.4 | 8869.6 | 8938.4 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 423.5 | 475.8 | 448.0 | 456.9 | 456.8 | 475.8 | 429.2 | 468.2 | 483.8 | 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: December 10, 2020