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 | 2020 | 2019 Q3 | 2019 Q4 | 2020 Q1 | 2020 Q2 | 2020 Q3 | 2020 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8931.3 | 9203.4 | 9523.7 | 9111.1 | 9203.4 | 9237.6 | 9340.9 | 9423.1 | 9523.7 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.6 | 20.1 | 17.5 | 27.5 | 20.1 | 22.0 | 16.6 | 18.6 | 17.5 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.2 | 4.5 | 2.8 | 1.9 | 4.5 | 4.2 | 3.2 | 2.7 | 2.8 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 59.7 | 20.7 | 23.5 | 19.4 | 20.7 | 29.7 | 28.2 | 23.3 | 23.5 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.5 | 7.0 | 0.5 | 11.7 | 7.0 | 6.4 | 4.6 | 2.7 | 0.5 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 975.6 | 962.9 | 1026.1 | 1004.6 | 962.9 | 960.4 | 968.5 | 1035.7 | 1026.1 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 52.1 | 10.8 | 9.8 | 11.8 | 10.8 | 13.8 | 5.5 | 10.1 | 9.8 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 367.9 | 343.2 | 342.8 | 344.5 | 343.2 | 325.2 | 254.8 | 324.1 | 342.8 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 141.8 | 166.7 | 197.4 | 179.0 | 166.7 | 177.7 | 202.0 | 205.8 | 197.4 | 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 | 442.2 | 476.1 | 469.3 | 442.2 | 443.7 | 506.1 | 495.8 | 476.1 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 12.3 | 8.4 | 9.2 | 9.2 | 8.4 | 8.8 | 9.2 | 9.2 | 9.2 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2478.6 | 2549.7 | 2964.5 | 2440.5 | 2549.7 | 2156.0 | 2276.6 | 2604.2 | 2964.5 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 444.9 | 373.8 | 384.7 | 391.0 | 373.8 | 304.0 | 368.1 | 356.2 | 384.7 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4925.0 | 5256.4 | 5094.9 | 5205.3 | 5256.4 | 5746.1 | 5666.0 | 5370.6 | 5094.9 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 233.4 | 253.7 | 273.6 | 249.0 | 253.7 | 246.9 | 255.6 | 264.5 | 273.6 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4491.6 | 4199.5 | 4042.5 | 4304.8 | 4199.5 | 4781.2 | 4531.8 | 4388.7 | 4042.5 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 200.0 | 803.1 | 778.8 | 651.5 | 803.1 | 717.9 | 878.6 | 717.4 | 778.8 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 9000.6 | 9326.4 | 9637.1 | 9240.6 | 9326.4 | 9346.7 | 9452.6 | 9539.1 | 9637.1 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8584.8 | 8850.8 | 9117.9 | 8784.1 | 8850.8 | 8917.6 | 8984.4 | 9051.1 | 9117.9 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4093.2 | 4651.3 | 5075.4 | 4479.2 | 4651.3 | 4136.4 | 4452.5 | 4662.4 | 5075.4 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4491.6 | 4199.5 | 4042.5 | 4304.8 | 4199.5 | 4781.2 | 4531.8 | 4388.7 | 4042.5 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8515.6 | 8727.9 | 9004.5 | 8654.6 | 8727.9 | 8808.5 | 8872.7 | 8935.1 | 9004.5 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 415.8 | 475.5 | 519.2 | 456.5 | 475.5 | 429.1 | 468.2 | 487.9 | 519.2 | 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: March 11, 2021