Financial Accounts of the United States - Z.1
L.120.b State and Local Government Employee Retirement Funds Defined Benefit Plans
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2020 | 2021 | 2022 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee defined benefit retirement funds; total financial assets (1) | FL224090045 | 9007.9 | 9233.6 | 9447.8 | 9174.8 | 9233.6 | 9284.4 | 9336.9 | 9396.2 | 9447.8 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.1 | 27.5 | 22.3 | 32.9 | 27.5 | 27.6 | 27.5 | 24.9 | 22.3 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.2 | 2.4 | 0.0 | 2.0 | 2.4 | 0.2 | 1.7 | 0.1 | 0.0 | 3 |
| State and local government employee defined benefit retirement funds; money market fund shares; asset | FL223034043 | 21.3 | 25.2 | 15.9 | 29.6 | 25.2 | 23.0 | 20.7 | 19.3 | 15.9 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 7.8 | 28.1 | 23.8 | 15.3 | 28.1 | 20.0 | 19.6 | 33.0 | 23.8 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1077.3 | 1202.4 | 1031.0 | 1182.3 | 1202.4 | 1144.7 | 1061.7 | 992.5 | 1031.0 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 8.6 | 20.8 | 14.9 | 19.9 | 20.8 | 23.2 | 22.4 | 16.2 | 14.9 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 347.6 | 416.4 | 310.3 | 400.4 | 416.4 | 379.7 | 344.3 | 304.2 | 310.3 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 190.3 | 199.1 | 150.7 | 201.9 | 199.1 | 193.9 | 177.3 | 157.4 | 150.7 | 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 | 530.7 | 566.2 | 555.1 | 560.1 | 566.2 | 547.9 | 517.7 | 514.7 | 555.1 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 7.0 | 6.9 | 7.5 | 7.0 | 6.9 | 6.7 | 6.4 | 7.4 | 7.5 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2850.6 | 3387.1 | 2826.0 | 3151.1 | 3387.1 | 3242.9 | 2889.8 | 2713.5 | 2826.0 | 13 |
| State and local government employee defined benefit retirement funds; mutual fund shares; asset | LM223064243 | 197.4 | 94.1 | 58.8 | 188.4 | 94.1 | 91.1 | 82.1 | 72.8 | 58.8 | 14 |
| State and local government employee defined benefit retirement funds; miscellaneous assets | FL223090045 | 4816.1 | 4459.8 | 5462.4 | 4566.1 | 4459.8 | 4728.3 | 5227.5 | 5532.7 | 5462.4 | 15 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (2) | FL223073045 | 4029.2 | 3501.8 | 4487.0 | 3672.5 | 3501.8 | 3786.4 | 4264.5 | 4570.9 | 4487.0 | 16 |
| State and local government employee defined benefit retirement funds; unidentified miscellaneous assets | LM223093043 | 787.0 | 958.0 | 975.5 | 893.7 | 958.0 | 941.9 | 963.0 | 961.9 | 975.5 | 17 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) (3) | FL224190043 | 9143.4 | 9409.4 | 9678.7 | 9342.1 | 9409.4 | 9476.7 | 9544.1 | 9611.4 | 9678.7 | 18 |
NOTES
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.
Last Update: March 9, 2023