Financial Accounts of the United States - Z.1
L.117 Private and Public Pension Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2021 | 2022 | 2023 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; total financial assets (2) | FL594090005 | 27447.4 | 25065 | 26862.4 | 24885.2 | 25065 | 25663.8 | 26161.4 | 25995.4 | 26862.4 | 1 |
| Pension funds; checkable deposits and currency; asset | FL593020005 | 54 | 51.2 | 56.7 | 50.9 | 51.2 | 49.5 | 54.3 | 55.5 | 56.7 | 2 |
| Pension funds; total time and savings deposits; asset | FL593030005 | 19.6 | 24.7 | 22.9 | 18 | 24.7 | 21.2 | 18.8 | 21.9 | 22.9 | 3 |
| Pension funds; money market fund shares; asset | FL593034005 | 238.6 | 248.8 | 259.6 | 243.2 | 248.8 | 250.8 | 249.4 | 256.2 | 259.6 | 4 |
| Pension funds; security repurchase agreements; asset | FL592051005 | 46.4 | 68.3 | 83.5 | 53.8 | 68.3 | 75 | 38.3 | 77.5 | 83.5 | 5 |
| Pension funds; debt securities; asset | LM594022005 | 3065.7 | 2762.1 | 3102.8 | 2687.5 | 2762.1 | 2934.2 | 2948.9 | 2898.6 | 3102.8 | 6 |
| Pension funds; commercial paper; asset | FL593069105 | 62.3 | 55.3 | 60.4 | 58.1 | 55.3 | 56.1 | 57.4 | 59.9 | 60.4 | 7 |
| Pension funds; Treasury securities; asset | LM593061105 | 944.2 | 853.2 | 1053.8 | 834.5 | 853.2 | 945.4 | 969.1 | 979.3 | 1053.8 | 8 |
| Pension funds; agency- and GSE-backed securities; asset | LM593061705 | 469.7 | 425.9 | 434.7 | 424.4 | 425.9 | 424.8 | 440 | 421.5 | 434.7 | 9 |
| Pension funds; municipal securities; asset | LM593062045 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 |
| Pension funds; corporate and foreign bonds; asset | LM593063005 | 1589.5 | 1427.6 | 1553.9 | 1370.5 | 1427.6 | 1507.8 | 1482.4 | 1437.9 | 1553.9 | 11 |
| Pension funds; loans; asset | FL594023005 | 2466.9 | 2713.1 | 2966.8 | 2575.7 | 2713.1 | 2670.4 | 2707.8 | 2749.7 | 2966.8 | 12 |
| Federal government retirement funds; other loans and advances; asset (3) | FL343069005 | 2434.7 | 2680.2 | 2934.4 | 2541.8 | 2680.2 | 2637.2 | 2675.3 | 2717 | 2934.4 | 13 |
| Pension funds; total mortgages; asset | FL593065005 | 32.3 | 32.8 | 32.4 | 33.9 | 32.8 | 33.2 | 32.6 | 32.7 | 32.4 | 14 |
| Pension funds; corporate equities; asset | LM593064105 | 7768 | 6358.3 | 7345.6 | 5973.2 | 6358.3 | 6540.5 | 6936.9 | 6661.7 | 7345.6 | 15 |
| Pension funds; mutual fund shares; asset | LM593064205 | 5728.4 | 4592.6 | 5279.9 | 4389.5 | 4592.6 | 4898 | 5057.5 | 4862.4 | 5279.9 | 16 |
| Pension funds; total miscellaneous assets | FL593090005 | 8059.8 | 8246.1 | 7744.7 | 8893.6 | 8246.1 | 8224.4 | 8149.4 | 8411.7 | 7744.7 | 17 |
| Pension funds; unallocated insurance contracts; asset (4) | FL593095005 | 914.5 | 871.5 | 903.1 | 853.6 | 871.5 | 888.7 | 899.2 | 892.3 | 903.1 | 18 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 70.9 | 68.9 | 66 | 69.1 | 68.9 | 67.8 | 66.9 | 66.5 | 66 | 19 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FL593073005 | 5140 | 5316 | 4609.9 | 5978.4 | 5316 | 5210 | 5069.9 | 5354.1 | 4609.9 | 20 |
| Pension funds; unidentified miscellaneous assets | FL593093005 | 1934.4 | 1989.7 | 2165.7 | 1992.5 | 1989.7 | 2057.9 | 2113.4 | 2098.9 | 2165.7 | 21 |
| Pension funds; total liabilities (6) | FL594190005 | 27661.1 | 25326.5 | 27062.9 | 25088.1 | 25326.5 | 25858.8 | 26358.7 | 26196.3 | 27062.9 | 22 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 16862.7 | 16201.4 | 16610.8 | 16364.6 | 16201.4 | 16304.3 | 16406.7 | 16507.6 | 16610.8 | 23 |
| Defined benefit pension funds; total funded assets (7) | FL592000075 | 11722.7 | 10885.4 | 12000.9 | 10386.1 | 10885.4 | 11094.3 | 11336.8 | 11153.6 | 12000.9 | 24 |
| Pension funds; defined benefit claims of pension fund on sponsor; asset | FL593073045 | 5140 | 5316 | 4609.9 | 5978.4 | 5316 | 5210 | 5069.9 | 5354.1 | 4609.9 | 25 |
| Households and nonprofit organizations; retirement assets (8) | FL153050015 | 45437.9 | 40360.6 | ND | 39459.5 | 40360.6 | 41503.7 | 42572.8 | 41950.3 | ND | 26 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 16862.7 | 16201.4 | 16610.8 | 16364.6 | 16201.4 | 16304.3 | 16406.7 | 16507.6 | 16610.8 | 27 |
| Defined contribution pension funds; total financial assets | FL594090055 | 10798.3 | 9125.1 | 10452.1 | 8723.6 | 9125.1 | 9554.5 | 9952 | 9688.7 | 10452.1 | 28 |
| All sectors; IRAs; liability (9) | LM893131573 | 14460 | 11950 | ND | 11375 | 11950 | 12465 | 12955 | 12566 | ND | 29 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (10) | FL543150015 | 3316.9 | 3084.1 | ND | 2996.3 | 3084.1 | 3179.9 | 3259.1 | 3188 | ND | 30 |
NOTES
- Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Nonmarketable Treasury securities classified as loans and suspended reinvestments in the Thrift Savings Plan G Fund.
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.
- Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
- Households' retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.
- IRA assets are not included above. See memo items on table L.229 for a sectoral distribution of IRA accounts.
- Annuities held in IRAs are excluded. They are included in line 29.
Last Update: March 7, 2024