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 | 2020 | 2020 Q1 | 2020 Q2 | 2020 Q3 | 2020 Q4 | 2021 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8705.2 | 8932.7 | 9206.0 | 9497.6 | 9239.6 | 9345.7 | 9432.5 | 9497.6 | 9567.2 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 30.2 | 28.6 | 22.8 | 28.5 | 21.9 | 20.4 | 20.8 | 28.5 | 29.6 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.5 | 2.2 | 4.4 | 2.4 | 4.2 | 2.8 | 2.4 | 2.4 | 2.0 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 62.1 | 59.7 | 20.6 | 23.2 | 29.6 | 27.6 | 27.3 | 23.2 | 23.6 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.7 | 4.5 | 6.9 | 7.8 | 6.4 | 4.0 | 2.5 | 7.8 | 8.0 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 955.0 | 975.6 | 962.2 | 1031.9 | 968.5 | 994.4 | 1017.1 | 1031.9 | 972.4 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 54.0 | 52.1 | 10.7 | 6.3 | 13.8 | 9.0 | 9.1 | 6.3 | 5.5 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 289.4 | 367.9 | 341.1 | 353.2 | 333.8 | 303.6 | 324.1 | 353.2 | 332.6 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 109.5 | 141.8 | 166.1 | 192.0 | 177.3 | 184.4 | 195.7 | 192.0 | 192.6 | 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 | 444.4 | 480.4 | 443.6 | 497.3 | 488.2 | 480.4 | 441.7 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 6.9 | 12.3 | 8.3 | 8.1 | 8.8 | 8.0 | 8.3 | 8.1 | 8.0 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2706.8 | 2478.6 | 2553.9 | 2773.8 | 2155.0 | 2354.7 | 2562.4 | 2773.8 | 2825.9 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 481.3 | 446.9 | 373.2 | 422.1 | 304.5 | 353.6 | 371.1 | 422.1 | 436.7 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4455.6 | 4924.3 | 5253.5 | 5199.9 | 5740.6 | 5580.1 | 5420.5 | 5199.9 | 5261.1 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 240.2 | 232.6 | 254.0 | 274.6 | 247.8 | 255.8 | 264.7 | 274.6 | 273.1 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4017.1 | 4491.6 | 4184.0 | 4031.8 | 4766.2 | 4512.4 | 4385.7 | 4031.8 | 4045.6 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 198.3 | 200.1 | 815.5 | 893.4 | 726.6 | 811.9 | 770.1 | 893.4 | 942.4 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 8790.1 | 9001.9 | 9327.7 | 9642.0 | 9348.5 | 9453.8 | 9540.5 | 9642.0 | 9715.5 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8322.9 | 8584.8 | 8850.8 | 9117.9 | 8917.6 | 8984.4 | 9051.1 | 9117.9 | 9184.7 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4305.8 | 4093.2 | 4666.8 | 5086.1 | 4151.4 | 4472.0 | 4665.5 | 5086.1 | 5139.0 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4017.1 | 4491.6 | 4184.0 | 4031.8 | 4766.2 | 4512.4 | 4385.7 | 4031.8 | 4045.6 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8238.0 | 8515.6 | 8729.1 | 8973.5 | 8808.7 | 8876.2 | 8943.1 | 8973.5 | 9036.4 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 467.2 | 417.1 | 476.9 | 524.1 | 430.9 | 469.5 | 489.4 | 524.1 | 530.8 | 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: June 10, 2021