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 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee defined benefit retirement funds; total financial assets (1) | FL224090045 | 9004.8 | 9237.2 | 9464.9 | 9283.8 | 9331.3 | 9402.3 | 9464.9 | 9583.6 | 9658.6 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.7 | 28.9 | 28.4 | 27.7 | 28.3 | 26.6 | 28.4 | 27.8 | 27.9 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.3 | 2.4 | 6.3 | 0.2 | 1.8 | 0.1 | 6.3 | 3 | 3.7 | 3 |
| State and local government employee defined benefit retirement funds; money market fund shares; asset | FL223034043 | 21.8 | 24.7 | 20.9 | 23.1 | 21.3 | 19 | 20.9 | 22 | 21.8 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 8 | 27.5 | 47.8 | 20 | 20.1 | 32.2 | 47.8 | 58.7 | 68.3 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1101.5 | 1180.5 | 1032.1 | 1147.6 | 1094.6 | 1031.1 | 1032.1 | 1106 | 1125.6 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 8.8 | 20.4 | 11.1 | 23.3 | 23 | 15.8 | 11.1 | 12.3 | 9.5 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 355.4 | 407.9 | 321 | 380.3 | 354.9 | 311.4 | 321 | 355.3 | 373.7 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 194.6 | 197.6 | 163.1 | 197 | 183.4 | 164.1 | 163.1 | 136.1 | 121.3 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 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 | 542.6 | 554.6 | 536.9 | 547.1 | 533.3 | 539.8 | 536.9 | 602.3 | 621.1 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 7.1 | 6.8 | 9.8 | 6.7 | 9.5 | 7.5 | 9.8 | 11.3 | 12.5 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2914.7 | 3318.1 | 2984.8 | 3240.4 | 2977.6 | 2759.2 | 2984.8 | 2886 | 2863.4 | 13 |
| State and local government employee defined benefit retirement funds; mutual fund shares; asset | LM223064243 | 201.8 | 92.2 | 74.9 | 91.2 | 84.4 | 79.4 | 74.9 | 110.2 | 121.6 | 14 |
| State and local government employee defined benefit retirement funds; miscellaneous assets | FL223090045 | 4718.9 | 4556.3 | 5260 | 4727.1 | 5093.7 | 5447.3 | 5260 | 5358.6 | 5413.9 | 15 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (2) | FL223073045 | 3914.3 | 3614.7 | 4244.9 | 3780 | 4100.7 | 4401.6 | 4244.9 | 4164.6 | 4176.1 | 16 |
| State and local government employee defined benefit retirement funds; unidentified miscellaneous assets | LM223093043 | 804.7 | 941.5 | 1015.1 | 947.1 | 993 | 1045.8 | 1015.1 | 1194 | 1237.8 | 17 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) (3) | FL224190043 | 9143.4 | 9409.4 | 9678.7 | 9476.7 | 9544.1 | 9611.4 | 9678.7 | 9746 | 9813.3 | 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: September 11, 2023