Financial Accounts of the United States - Z.1
L.117 Private and Public Pension Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2019 | 2020 | 2021 | 2022 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; total financial assets (2) | FL594090005 | 24458.4 | 25991.6 | 27658.8 | 26337.5 | 27212.1 | 26116.1 | 25828.6 | 26337.5 | 26863.3 | 1 |
| Pension funds; checkable deposits and currency; asset | FL593020005 | 46.9 | 49.6 | 52.1 | 49.9 | 50.4 | 50.4 | 49.3 | 49.9 | 49.5 | 2 |
| Pension funds; total time and savings deposits; asset | FL593030005 | 18.7 | 19.1 | 13.1 | 12.6 | 9.5 | 9.7 | 6.0 | 12.6 | 13.9 | 3 |
| Pension funds; money market fund shares; asset | FL593034005 | 203.3 | 229.6 | 256.4 | 279.3 | 259.5 | 262.9 | 268.2 | 279.3 | 287.6 | 4 |
| Pension funds; security repurchase agreements; asset | FL592051005 | 22.5 | 26.4 | 53.9 | 82.6 | 47.6 | 48.7 | 63.4 | 82.6 | 85.5 | 5 |
| Pension funds; debt securities; asset | LM594022005 | 4698.0 | 5142.9 | 5367.3 | 5230.1 | 5234.0 | 5095.2 | 5025.8 | 5230.1 | 5044.3 | 6 |
| Pension funds; commercial paper; asset | FL593069105 | 47.5 | 49.5 | 63.2 | 55.3 | 66.0 | 65.5 | 59.1 | 55.3 | 53.5 | 7 |
| Pension funds; Treasury securities; asset (3) | LM593061105 | 2920.6 | 3114.2 | 3340.7 | 3460.1 | 3312.9 | 3290.1 | 3288.3 | 3460.1 | 3197.3 | 8 |
| Pension funds; agency- and GSE-backed securities; asset | LM593061705 | 401.4 | 441.7 | 434.3 | 378.7 | 421.4 | 399.2 | 374.2 | 378.7 | 396.0 | 9 |
| Pension funds; municipal securities; asset | LM593062045 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 10 |
| Pension funds; corporate and foreign bonds; asset | LM593063005 | 1328.5 | 1537.5 | 1529.2 | 1336.0 | 1433.8 | 1340.4 | 1304.1 | 1336.0 | 1397.5 | 11 |
| Pension funds; loans; asset | FL594023005 | 31.1 | 31.5 | 31.6 | 31.5 | 31.5 | 34.1 | 32.3 | 31.5 | 304.3 | 12 |
| Federal government; other loans and advances due to federal government defined contribution retirement funds; liability | FL313169003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 272.8 | 13 |
| Pension funds; total mortgages; asset | FL593065005 | 31.1 | 31.5 | 31.6 | 31.5 | 31.5 | 34.1 | 32.3 | 31.5 | 31.5 | 14 |
| Pension funds; corporate equities; asset | LM593064105 | 5856.0 | 6716.5 | 7994.4 | 6430.4 | 7545.7 | 6432.6 | 5986.9 | 6430.4 | 6629.6 | 15 |
| Pension funds; mutual fund shares; asset | LM593064205 | 4690.6 | 5345.4 | 5856.2 | 4667.2 | 5480.5 | 4750.1 | 4461.7 | 4667.2 | 4868.3 | 16 |
| Pension funds; total miscellaneous assets | FL593090005 | 8891.2 | 8430.7 | 8033.7 | 9553.9 | 8553.4 | 9432.3 | 9935.0 | 9553.9 | 9580.2 | 17 |
| Pension funds; unallocated insurance contracts; asset (4) | FL593095005 | 826.0 | 889.6 | 944.8 | 904.9 | 928.0 | 896.2 | 886.1 | 904.9 | 926.0 | 18 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 80.1 | 77.7 | 74.7 | 70.7 | 74.0 | 73.4 | 72.2 | 70.7 | 69.5 | 19 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FL593073005 | 6287.7 | 5700.8 | 4990.3 | 6433.3 | 5520.3 | 6389.9 | 6812.9 | 6433.3 | 6424.2 | 20 |
| Pension funds; unidentified miscellaneous assets | FL593093005 | 1697.3 | 1762.6 | 2023.8 | 2145.0 | 2031.0 | 2072.8 | 2163.9 | 2145.0 | 2160.6 | 21 |
| Pension funds; total liabilities (6) | FL594190005 | 24636.6 | 26166.1 | 27870.6 | 26587.1 | 27440.9 | 26358.9 | 26070.0 | 26587.1 | 27122.4 | 22 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 16114.3 | 16456.7 | 16848.7 | 17233.3 | 16945.1 | 17039.5 | 17134.9 | 17233.3 | 17331.9 | 23 |
| Defined benefit pension funds; total funded assets (7) | FL592000075 | 9826.6 | 10755.8 | 11858.4 | 10800.0 | 11424.8 | 10649.6 | 10322.1 | 10800.0 | 10907.7 | 24 |
| Pension funds; defined benefit claims of pension fund on sponsor; asset | FL593073045 | 6287.7 | 5700.8 | 4990.3 | 6433.3 | 5520.3 | 6389.9 | 6812.9 | 6433.3 | 6424.2 | 25 |
| Households and nonprofit organizations; retirement assets (8) | FL153050015 | 38401.5 | 41548.1 | 45004.8 | 41088.6 | 43731.4 | 40976.6 | 40039.2 | 41088.6 | ND | 26 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 16114.3 | 16456.7 | 16848.7 | 17233.3 | 16945.1 | 17039.5 | 17134.9 | 17233.3 | 17331.9 | 27 |
| Defined contribution pension funds; total financial assets | FL594090055 | 8522.3 | 9709.5 | 11021.9 | 9353.8 | 10495.8 | 9319.4 | 8935.0 | 9353.8 | 9790.5 | 28 |
| All sectors; IRAs; liability (9) | LM893131573 | 10949.0 | 12333.0 | 13913.0 | 11484.0 | 13168.0 | 11669.0 | 11048.0 | 11484.0 | ND | 29 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (10) | FL543150015 | 2816.0 | 3049.0 | 3221.2 | 3017.5 | 3122.6 | 2948.8 | 2921.2 | 3017.5 | ND | 30 |
NOTES
- Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Includes both marketable and nonmarketable government securities.
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.
- Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
- Households' retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.
- IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.
- Annuities held in IRAs are excluded. They are included in line 29.
Last Update: June 8, 2023