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 | 2021 | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8930.1 | 9181.2 | 9513.0 | 9818.0 | 9579.1 | 9659.9 | 9727.7 | 9818.0 | 9867.8 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.6 | 22.1 | 28.0 | 27.3 | 24.8 | 26.0 | 34.2 | 27.3 | 27.1 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.2 | 4.2 | 2.2 | 2.6 | 2.2 | 2.4 | 2.1 | 2.6 | 2.8 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 59.7 | 23.4 | 23.7 | 19.0 | 25.7 | 24.1 | 31.5 | 19.0 | 17.9 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.5 | 6.7 | 7.8 | 30.5 | 18.4 | 24.5 | 16.5 | 30.5 | 36.1 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 975.6 | 954.9 | 1074.6 | 1209.1 | 1082.3 | 1171.2 | 1173.6 | 1209.1 | 1172.5 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 52.1 | 12.4 | 8.6 | 14.6 | 15.3 | 18.4 | 17.4 | 14.6 | 16.1 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 367.9 | 329.3 | 346.8 | 430.9 | 344.5 | 393.2 | 418.5 | 430.9 | 430.5 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 141.8 | 166.9 | 189.8 | 191.3 | 190.7 | 191.6 | 202.1 | 191.3 | 183.9 | 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 | 446.4 | 529.3 | 572.2 | 531.8 | 568.0 | 535.6 | 572.2 | 541.9 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 12.3 | 7.9 | 6.9 | 8.1 | 7.4 | 7.4 | 7.6 | 8.1 | 8.3 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2478.6 | 2523.5 | 2843.5 | 3392.2 | 2957.5 | 3133.3 | 3077.9 | 3392.2 | 3300.5 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 446.9 | 370.6 | 423.9 | 314.4 | 416.7 | 432.4 | 440.3 | 314.4 | 291.0 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4921.7 | 5267.9 | 5102.3 | 4814.9 | 5044.1 | 4838.6 | 4944.2 | 4814.9 | 5011.7 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 232.7 | 246.0 | 254.3 | 268.3 | 256.1 | 262.1 | 263.1 | 268.3 | 269.1 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4488.9 | 4205.5 | 4020.3 | 3547.9 | 3936.5 | 3693.2 | 3737.4 | 3547.9 | 3768.6 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 200.1 | 816.5 | 827.7 | 998.8 | 851.4 | 883.3 | 943.7 | 998.8 | 974.0 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 8999.4 | 9322.8 | 9648.3 | 9990.0 | 9731.9 | 9824.7 | 9898.3 | 9990.0 | 10045.6 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8582.1 | 8866.4 | 9158.1 | 9450.7 | 9231.3 | 9304.4 | 9377.6 | 9450.7 | 9523.9 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4093.2 | 4660.9 | 5137.8 | 5902.8 | 5294.8 | 5611.2 | 5640.2 | 5902.8 | 5755.2 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4488.9 | 4205.5 | 4020.3 | 3547.9 | 3936.5 | 3693.2 | 3737.4 | 3547.9 | 3768.6 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8512.9 | 8724.8 | 9022.9 | 9278.7 | 9078.5 | 9139.6 | 9207.0 | 9278.7 | 9346.1 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 417.2 | 456.4 | 490.1 | 539.2 | 500.6 | 520.2 | 520.7 | 539.2 | 521.8 | 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 9, 2022