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 | 2019 | 2020 | 2021 | 2022 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee defined benefit retirement funds; total financial assets (1) | FL224090045 | 8739.4 | 9005.4 | 9234.1 | 9465.6 | 9284.4 | 9337.7 | 9406.5 | 9465.6 | 9523.5 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 22.1 | 28.6 | 29.4 | 26.2 | 27.6 | 27.4 | 26.1 | 26.2 | 25.4 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 4.2 | 2.2 | 2.4 | 6.3 | 0.2 | 1.7 | 0.1 | 6.3 | 7.3 | 3 |
| State and local government employee defined benefit retirement funds; money market fund shares; asset | FL223034043 | 21.1 | 21.7 | 25.1 | 20.8 | 23.0 | 20.6 | 18.6 | 20.8 | 19.7 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 6.7 | 8.0 | 28.0 | 47.6 | 20.0 | 19.5 | 31.5 | 47.6 | 47.5 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 954.9 | 1096.7 | 1201.5 | 1001.8 | 1144.0 | 1057.5 | 992.0 | 1001.8 | 1060.7 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 12.4 | 8.8 | 20.8 | 11.1 | 23.2 | 22.3 | 15.5 | 11.1 | 8.7 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 329.3 | 353.9 | 415.1 | 313.2 | 379.1 | 342.9 | 299.6 | 313.2 | 335.8 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 166.9 | 193.8 | 201.1 | 154.6 | 196.3 | 176.6 | 155.7 | 154.6 | 163.0 | 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 | 540.3 | 564.5 | 522.8 | 545.4 | 515.7 | 521.2 | 522.8 | 553.3 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 7.9 | 7.1 | 6.9 | 6.4 | 6.7 | 9.2 | 7.3 | 6.4 | 6.3 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2523.5 | 2902.2 | 3377.1 | 2921.4 | 3230.0 | 2878.7 | 2658.0 | 2921.4 | 2930.8 | 13 |
| State and local government employee defined benefit retirement funds; mutual fund shares; asset | LM223064243 | 168.4 | 200.9 | 93.9 | 51.8 | 90.9 | 81.8 | 77.8 | 51.8 | 48.2 | 14 |
| State and local government employee defined benefit retirement funds; miscellaneous assets | FL223090045 | 5030.7 | 4737.9 | 4469.9 | 5383.4 | 4742.2 | 5241.2 | 5595.2 | 5383.4 | 5377.5 | 15 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (2) | FL223073045 | 4220.2 | 3936.7 | 3511.7 | 4412.1 | 3798.2 | 4278.8 | 4570.9 | 4412.1 | 4426.8 | 16 |
| State and local government employee defined benefit retirement funds; unidentified miscellaneous assets | LM223093043 | 810.5 | 801.2 | 958.3 | 971.2 | 944.0 | 962.4 | 1024.4 | 971.2 | 950.7 | 17 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) (3) | FL224190043 | 8881.1 | 9143.4 | 9409.4 | 9678.7 | 9476.7 | 9544.1 | 9611.4 | 9678.7 | 9746.0 | 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: June 8, 2023