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 | 2021 | 2020 Q3 | 2020 Q4 | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 9201.7 | 9539.2 | 9826.0 | 9427.4 | 9539.2 | 9603.1 | 9682.7 | 9746.0 | 9826.0 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 22.1 | 28.0 | 37.4 | 21.2 | 28.0 | 24.8 | 26.0 | 34.2 | 37.4 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 4.2 | 2.2 | 2.1 | 2.2 | 2.2 | 2.2 | 2.4 | 2.1 | 2.1 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 23.6 | 23.9 | 32.1 | 30.7 | 23.9 | 25.9 | 24.3 | 31.7 | 32.1 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 6.7 | 7.8 | 19.9 | 2.9 | 7.8 | 18.4 | 24.5 | 16.5 | 19.9 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 954.9 | 1074.6 | 1214.2 | 1021.2 | 1074.6 | 1082.3 | 1171.2 | 1173.6 | 1214.2 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 12.4 | 8.6 | 19.1 | 10.2 | 8.6 | 15.3 | 18.4 | 17.4 | 19.1 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 329.3 | 346.8 | 450.2 | 309.9 | 346.8 | 344.5 | 393.2 | 418.5 | 450.2 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 166.9 | 189.8 | 203.6 | 193.1 | 189.8 | 190.7 | 191.6 | 202.1 | 203.6 | 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 | 446.4 | 529.3 | 541.2 | 508.0 | 529.3 | 531.8 | 568.0 | 535.6 | 541.2 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 7.9 | 6.9 | 7.6 | 7.5 | 6.9 | 7.4 | 7.4 | 7.6 | 7.6 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2523.5 | 2843.5 | 3207.1 | 2526.6 | 2843.5 | 2957.5 | 3133.3 | 3077.9 | 3207.1 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 383.0 | 437.9 | 469.2 | 372.5 | 437.9 | 428.9 | 444.3 | 450.7 | 469.2 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 5275.8 | 5114.2 | 4836.4 | 5442.7 | 5114.2 | 5055.7 | 4849.3 | 4951.8 | 4836.4 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 254.0 | 266.6 | 275.6 | 259.7 | 266.6 | 268.1 | 273.3 | 271.3 | 275.6 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4205.5 | 4020.3 | 3601.8 | 4390.5 | 4020.3 | 3936.5 | 3693.2 | 3737.4 | 3601.8 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 816.3 | 827.3 | 959.0 | 792.5 | 827.3 | 851.0 | 882.9 | 943.2 | 959.0 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 9343.4 | 9674.5 | 10004.2 | 9569.5 | 9674.5 | 9756.0 | 9847.5 | 9916.5 | 10004.2 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8866.4 | 9158.1 | 9450.7 | 9085.0 | 9158.1 | 9231.3 | 9304.4 | 9377.6 | 9450.7 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4660.9 | 5137.8 | 5848.9 | 4694.5 | 5137.8 | 5294.8 | 5611.2 | 5640.2 | 5848.9 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4205.5 | 4020.3 | 3601.8 | 4390.5 | 4020.3 | 3936.5 | 3693.2 | 3737.4 | 3601.8 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8724.8 | 9022.9 | 9272.6 | 8942.9 | 9022.9 | 9078.5 | 9139.6 | 9207.0 | 9272.6 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 477.0 | 516.3 | 553.4 | 484.5 | 516.3 | 524.7 | 543.1 | 539.0 | 553.4 | 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 10, 2022