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 | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 9181.2 | 9516.9 | 9821.7 | 9582.8 | 9665.5 | 9734.1 | 9821.7 | 9856.6 | 9888.9 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 22.1 | 28.0 | 27.3 | 24.9 | 25.9 | 33.3 | 27.3 | 27.7 | 28.5 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 4.2 | 2.2 | 2.6 | 2.2 | 2.3 | 2.0 | 2.6 | 0.2 | 0.0 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 23.4 | 23.7 | 19.0 | 25.7 | 23.8 | 31.5 | 19.0 | 25.3 | 25.3 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 6.7 | 7.8 | 30.5 | 18.4 | 24.2 | 15.7 | 30.5 | 20.2 | 20.7 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 954.9 | 1074.6 | 1209.1 | 1083.2 | 1171.2 | 1173.4 | 1209.1 | 1144.9 | 1122.8 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 12.4 | 8.6 | 14.6 | 15.3 | 18.1 | 18.7 | 14.6 | 23.3 | 25.6 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 329.3 | 346.8 | 430.9 | 344.8 | 395.9 | 406.3 | 430.9 | 380.0 | 381.1 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 166.9 | 189.8 | 191.3 | 190.9 | 190.8 | 201.1 | 191.3 | 192.3 | 190.8 | 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 | 572.2 | 532.2 | 566.3 | 547.3 | 572.2 | 549.4 | 525.4 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 7.9 | 6.9 | 8.1 | 7.4 | 7.3 | 7.2 | 8.1 | 6.7 | 6.5 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2523.5 | 2843.5 | 3392.2 | 2959.9 | 3129.3 | 3106.2 | 3392.2 | 3276.3 | 2784.9 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 370.6 | 423.9 | 314.4 | 416.8 | 430.0 | 437.7 | 314.4 | 309.7 | 230.7 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 5267.9 | 5106.1 | 4818.7 | 5044.2 | 4851.6 | 4927.1 | 4818.7 | 5045.6 | 5669.6 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 246.0 | 258.2 | 272.0 | 259.9 | 265.8 | 266.9 | 272.0 | 273.5 | 270.0 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4205.5 | 4020.3 | 3547.9 | 3932.1 | 3705.0 | 3745.4 | 3547.9 | 3840.0 | 4479.0 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 816.5 | 827.7 | 998.8 | 852.2 | 880.8 | 914.8 | 998.8 | 932.2 | 920.6 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 9322.8 | 9652.1 | 9993.7 | 9735.7 | 9828.4 | 9902.1 | 9993.7 | 10049.9 | 10084.3 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8866.4 | 9158.1 | 9450.7 | 9231.3 | 9304.4 | 9377.6 | 9450.7 | 9523.9 | 9597.0 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4660.9 | 5137.8 | 5902.8 | 5299.2 | 5599.5 | 5632.2 | 5902.8 | 5683.9 | 5118.0 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4205.5 | 4020.3 | 3547.9 | 3932.1 | 3705.0 | 3745.4 | 3547.9 | 3840.0 | 4479.0 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8724.8 | 9022.9 | 9278.7 | 9078.3 | 9141.5 | 9209.6 | 9278.7 | 9330.6 | 9401.7 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 456.4 | 493.9 | 543.0 | 504.5 | 524.0 | 524.5 | 543.0 | 526.1 | 487.3 | 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: September 9, 2022