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 | 2019 | 2020 | 2020 Q1 | 2020 Q2 | 2020 Q3 | 2020 Q4 | 2021 Q1 | 2021 Q2 | 2021 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 9220.5 | 9527.7 | 9259.2 | 9370.0 | 9460.5 | 9527.7 | 9599.1 | 9716.3 | 9783.2 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 23.0 | 27.7 | 22.1 | 20.6 | 21.0 | 27.7 | 21.8 | 24.1 | 24.0 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 4.5 | 2.3 | 4.2 | 2.8 | 2.4 | 2.3 | 2.3 | 2.7 | 2.7 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 20.7 | 24.8 | 29.9 | 27.9 | 27.5 | 24.8 | 26.5 | 25.0 | 25.0 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 7.0 | 8.1 | 6.5 | 4.0 | 2.6 | 8.1 | 18.2 | 27.3 | 26.7 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 970.9 | 1068.0 | 977.2 | 1003.3 | 1026.3 | 1068.0 | 1068.9 | 1172.1 | 1158.3 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 10.8 | 8.9 | 13.9 | 9.1 | 9.2 | 8.9 | 15.2 | 19.6 | 19.3 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 344.1 | 354.2 | 336.8 | 306.3 | 327.0 | 354.2 | 346.4 | 430.2 | 424.0 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 167.6 | 193.2 | 178.9 | 186.1 | 197.4 | 193.2 | 192.0 | 202.7 | 202.0 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 0.0 | 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 | 448.4 | 511.7 | 447.6 | 501.8 | 492.6 | 511.7 | 515.3 | 519.6 | 512.9 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 8.4 | 7.8 | 8.9 | 8.1 | 8.4 | 7.8 | 7.6 | 8.3 | 8.3 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2576.9 | 2861.9 | 2174.5 | 2376.0 | 2585.5 | 2861.9 | 2976.3 | 3183.3 | 3164.4 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 374.7 | 445.5 | 305.7 | 355.0 | 372.8 | 445.5 | 413.7 | 443.0 | 440.1 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 5234.3 | 5081.8 | 5730.2 | 5572.4 | 5414.1 | 5081.8 | 5063.9 | 4830.7 | 4933.8 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 254.0 | 266.4 | 246.9 | 253.8 | 259.6 | 266.4 | 267.9 | 273.1 | 273.7 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4157.6 | 4037.0 | 4750.2 | 4499.4 | 4377.5 | 4037.0 | 3976.4 | 3745.6 | 3844.2 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 822.8 | 778.3 | 733.1 | 819.1 | 777.0 | 778.3 | 819.6 | 812.0 | 815.9 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 9343.4 | 9674.3 | 9369.0 | 9479.2 | 9569.5 | 9674.3 | 9755.8 | 9847.4 | 9919.2 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8866.4 | 9158.1 | 8939.0 | 9011.7 | 9085.0 | 9158.1 | 9231.3 | 9304.4 | 9377.6 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4708.8 | 5121.1 | 4188.8 | 4512.2 | 4707.5 | 5121.1 | 5254.9 | 5558.8 | 5533.4 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4157.6 | 4037.0 | 4750.2 | 4499.4 | 4377.5 | 4037.0 | 3976.4 | 3745.6 | 3844.2 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8743.6 | 9011.6 | 8829.1 | 8902.5 | 8976.0 | 9011.6 | 9074.6 | 9173.3 | 9241.6 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 476.9 | 516.1 | 430.0 | 467.5 | 484.5 | 516.1 | 524.5 | 542.9 | 541.6 | 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 9, 2021