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 | 2023 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 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 | 1.4 | 1.3 | 1.3 | 1.3 | 1.3 | 1.4 | 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 | 2.9 | 2.7 | 2.8 | 2.9 | 2.9 | 2.9 | 3 | 2 |
| State and local government employee retirement funds; total financial assets (1) | FA224090005 | 224.4 | 284.4 | 310 | 288.4 | 298.2 | 313.1 | 315.5 | 306.8 | 304.7 | 3 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FA223020043 | -0.3 | -1.7 | 5.8 | -6.5 | 2.7 | -6.7 | 19.4 | 5.2 | 5.2 | 4 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FA223030043 | 0.1 | 4.1 | -2.8 | -7 | 25.5 | -14.7 | -11.1 | 11.7 | 2.9 | 5 |
| State and local government employee retirement funds; money market fund shares; asset | FA223034005 | 2.7 | -3.9 | -3.4 | 3.2 | 4.2 | -2.4 | -20.9 | 12.2 | -2.4 | 6 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FA222051043 | 19.7 | 21.1 | 14.1 | 53.5 | 57.5 | 25.4 | -147.8 | 156.1 | 22.8 | 7 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 151 | 32.7 | 49.7 | 17.8 | -61.4 | 100.9 | -33.5 | 88.1 | 43.5 | 8 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | 11.7 | -9.2 | 2.6 | -37.3 | -13.5 | 0.6 | 2.4 | 8 | -0.6 | 9 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | FA223061143 | 79 | -27.6 | 84.6 | -43 | -54.2 | 113.8 | 7.3 | 160.5 | 56.8 | 10 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | 9.6 | -13.4 | -18.6 | -34 | -20.5 | -46.3 | 58.9 | -68.2 | -19 | 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 | 50.7 | 83 | -18.8 | 132.1 | 26.7 | 32.8 | -102.1 | -12.2 | 6.3 | 13 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FA223065043 | -0.3 | -0.2 | -1.3 | 2.8 | -5.1 | 0.8 | -3.6 | -0.2 | -2.1 | 14 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | FA223064145 | -113.1 | -43.6 | -42 | 30.6 | 172.7 | -296.2 | 190.8 | -31.5 | -31 | 15 |
| State and local government employee retirement funds; mutual fund shares; asset | FA223064205 | -162.3 | -35.2 | 10.1 | -6.5 | -174.8 | 228.6 | -96.2 | -55.3 | -36.6 | 16 |
| State and local government employee retirement funds; miscellaneous assets | FA223090005 | 326.8 | 311 | 279.8 | 200.5 | 276.9 | 277.4 | 418.3 | 120.7 | 302.6 | 17 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FA223095505 | 14.4 | 11.8 | 8.4 | 9.2 | 12.6 | 11.8 | 6.7 | 6.6 | 8.7 | 18 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FA223073045 | 249.6 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 19 |
| State and local government employee retirement funds; miscellaneous assets | FA223093005 | 62.9 | 64.9 | 37 | -42.9 | 30 | 31.3 | 177.4 | -120.1 | 59.6 | 20 |
| State and local government employee retirement funds; pension entitlements (total liabilities) | FA224190005 | 226.1 | 285.8 | 311.6 | 289.8 | 299.6 | 314.7 | 317 | 308.4 | 306.3 | 21 |
| State and local government employee defined benefit retirement funds; total financial assets (4) | FA224090045 | 244.7 | 285.1 | 300 | 290.1 | 300.1 | 300.1 | 300 | 300 | 300 | 22 |
| State and local government employee defined contribution retirement funds; total financial assets (5) | FA224090055 | -20.2 | -0.8 | 10 | -1.7 | -2 | 13.1 | 15.4 | 6.8 | 4.7 | 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: March 7, 2024