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 | 2021 | 2022 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 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 | 0.7 | 1.3 | 1.2 | 1.2 | 1.3 | 1.3 | 1.3 | 1.3 | 1.4 | 1 |
| State and local government employee retirement funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA225013005 | 2.4 | 2.7 | 2.6 | 2.6 | 2.7 | 2.8 | 2.9 | 2.9 | 2.9 | 2 |
| State and local government employee retirement funds; total financial assets (1) | FA224090005 | 224.5 | 284.2 | 297.8 | 272.9 | 283.2 | 283 | 298.1 | 300.4 | 288.4 | 3 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FA223020043 | -0.1 | -2.1 | -3.7 | 1.5 | -12.2 | 5.9 | 1 | 24.6 | 4.8 | 4 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FA223030043 | 0.1 | 4 | -8.9 | 6.3 | -6.6 | 25.3 | -13.5 | -11.9 | 0.1 | 5 |
| State and local government employee retirement funds; money market fund shares; asset | FA223034005 | 2.4 | -3.9 | -7.7 | -7.8 | -7.4 | 7.5 | 5 | -17.6 | -3.8 | 6 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FA222051043 | 19.6 | 20.7 | -30.2 | -0.5 | 50.9 | 62.6 | 44.8 | -152.7 | -30.6 | 7 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 143.6 | 30.3 | 150.4 | 15 | 64.4 | -108.7 | 177.2 | 43.9 | 64.1 | 8 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | 11.6 | -9.2 | 11.2 | -1.9 | -27.1 | -18.9 | 4.7 | 7 | -8.6 | 9 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | FA223061143 | 76.2 | -29.6 | -26 | -46.1 | -72.8 | 26.3 | 118 | 112.2 | 45.9 | 10 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | 9 | -14.4 | 25 | -32.6 | -38.3 | -11.7 | -116.2 | 49 | -29.2 | 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 | 46.8 | 83.5 | 140.2 | 95.7 | 202.5 | -104.4 | 170.6 | -124.2 | 56.1 | 13 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FA223065043 | -0.3 | -0.3 | -0.5 | -0.7 | 3 | -3 | 4.1 | -0.5 | 0.9 | 14 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | FA223064145 | -102.9 | -98.6 | -100.1 | -212.5 | -24.1 | -57.5 | -318.3 | 161.3 | -144.4 | 15 |
| State and local government employee retirement funds; mutual fund shares; asset | FA223064205 | -163.1 | -12.2 | 13.4 | -4.4 | -4.5 | -53.2 | 131.8 | -106 | -36.5 | 16 |
| State and local government employee retirement funds; miscellaneous assets | FA223090005 | 325.2 | 346.2 | 285 | 476 | 219.8 | 404.1 | 266.2 | 359.4 | 433.9 | 17 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FA223095505 | 14.4 | 11.7 | 16.9 | 8.4 | 9 | 12.5 | 11.8 | 6.7 | 6.6 | 18 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FA223073045 | 252.8 | 242 | 242 | 242 | 242 | 242 | 242 | 242 | 242 | 19 |
| State and local government employee retirement funds; miscellaneous assets | FA223093005 | 58 | 92.5 | 26.1 | 225.6 | -31.2 | 149.6 | 12.4 | 110.7 | 185.3 | 20 |
| State and local government employee retirement funds; pension entitlements (total liabilities) | FA224190005 | 226.2 | 285.6 | 299.2 | 274.3 | 284.7 | 284.5 | 299.6 | 302 | 290 | 21 |
| State and local government employee defined benefit retirement funds; total financial assets (4) | FA224090045 | 244.7 | 285.1 | 285.2 | 285.1 | 285.1 | 285.1 | 285 | 285 | 285 | 22 |
| State and local government employee defined contribution retirement funds; total financial assets (5) | FA224090055 | -20.2 | -0.9 | 12.6 | -12.3 | -1.9 | -2.1 | 13.1 | 15.4 | 3.5 | 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: December 7, 2023