Financial Accounts of the United States - Z.1
F.120 State and Local Government Employee Retirement Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2020 | 2021 | 2022 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; consumption of fixed capital, nonresidential structures, equipment, and intellectual property products, current cost basis (gross saving) | FA226330005 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 1 |
| State and local government employee retirement funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA225013005 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 2 |
| State and local government employee retirement funds; total financial assets (1) | FA224090005 | 224 | 222.4 | 247 | 257.2 | 238.8 | 246 | 246.1 | 259 | 251 | 3 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FA223020043 | 6.2 | 0.1 | -0.5 | -4.9 | 2.6 | -6.6 | 7 | -2.3 | 0.2 | 4 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FA223030043 | -2 | 0.1 | 4 | -8.8 | 6.4 | -6.7 | 25 | -13.4 | 2.8 | 5 |
| State and local government employee retirement funds; money market fund shares; asset | FA223034005 | 0.1 | 2.1 | -3.8 | -6.4 | -7 | -9.3 | 7.7 | 4.6 | -0.9 | 6 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FA222051043 | 1.2 | 19.5 | 20.3 | -29.8 | 0.3 | 48.3 | 62.4 | 43.5 | 38.6 | 7 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 82.5 | 132.3 | 35.5 | 191.4 | 39 | -27.5 | -60.7 | 110.5 | 135.3 | 8 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | -3.8 | 11.6 | -9.2 | 11.5 | -1.1 | -28.9 | -18.5 | 4.5 | -11 | 9 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | FA223061143 | 3.1 | 71.7 | -28.6 | -11.3 | -36.6 | -101.3 | 34.8 | 102.1 | 99.8 | 10 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | 25.9 | 7.8 | -15 | 34.6 | -35.6 | -51.8 | -7 | -118.9 | -53.3 | 11 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | FA223062043 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| State and local government employee defined benefit retirement funds; corporate and foreign bonds; asset | FA223063045 | 57.2 | 41.2 | 88.3 | 156.7 | 112.2 | 154.5 | -70 | 122.8 | 99.9 | 13 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FA223065043 | -0.9 | -0.3 | 3 | -0.4 | 11.3 | -8.2 | 9.3 | 6.3 | 4.7 | 14 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | FA223064145 | -20.1 | -92.7 | -113.9 | -164.7 | -295.2 | -111.5 | 115.8 | -609.7 | -320.1 | 15 |
| State and local government employee retirement funds; mutual fund shares; asset | FA223064205 | -3.5 | -164 | -12.7 | 10.8 | 2.3 | -12.5 | -51.3 | 127.7 | 24.1 | 16 |
| State and local government employee retirement funds; miscellaneous assets | FA223090005 | 160.6 | 325.3 | 315.1 | 269.9 | 479.2 | 380.1 | 130.9 | 591.7 | 366.2 | 17 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FA223095505 | 5.1 | 14.4 | 14 | 19.7 | 10.1 | 11.2 | 14.9 | 11.9 | 7.8 | 18 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FA223073045 | 265.9 | 243.1 | 216.2 | 216.2 | 216.2 | 216.2 | 216.2 | 216.2 | 216.2 | 19 |
| State and local government employee retirement funds; miscellaneous assets | FA223093005 | -110.4 | 67.9 | 84.9 | 34.1 | 252.9 | 152.7 | -100.1 | 363.6 | 142.2 | 20 |
| State and local government employee retirement funds; pension entitlements (total liabilities) | FA224190005 | 223.9 | 222.4 | 247 | 257.2 | 238.7 | 246 | 246.1 | 259 | 251 | 21 |
| State and local government employee defined benefit retirement funds; total financial assets (4) | FA224090045 | 236.3 | 242.6 | 245.8 | 245.8 | 245.8 | 245.8 | 245.8 | 245.8 | 245.8 | 22 |
| State and local government employee defined contribution retirement funds; total financial assets (5) | FA224090055 | -12.3 | -20.2 | 1.2 | 11.4 | -7.1 | 0.2 | 0.3 | 13.2 | 5.2 | 23 |
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.
- Additional detail on defined benefit plans is available on table F.120.b.
- Additional detail on defined contribution plans is available on table F.120.c.
Last Update: September 11, 2023