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 | 2021 | 2022 | 2023 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee defined benefit retirement funds; total financial assets (1) | FL224090045 | 9240.9 | 8410.2 | 8774 | 8664.5 | 8410.2 | 8552.4 | 8625.8 | 8697.8 | 8774 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.4 | 26.7 | 32.5 | 26 | 26.7 | 25.1 | 29.9 | 31.2 | 32.5 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.4 | 6.5 | 3.7 | 0.1 | 6.5 | 2.8 | 0 | 3 | 3.7 | 3 |
| State and local government employee defined benefit retirement funds; money market fund shares; asset | FL223034043 | 25.2 | 21.3 | 16.8 | 20.3 | 21.3 | 20.7 | 14.5 | 17.5 | 16.8 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 27.7 | 48.8 | 62.9 | 34.4 | 48.8 | 55.1 | 18.2 | 57.2 | 62.9 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1195.8 | 1043.2 | 1151.2 | 1042.8 | 1043.2 | 1114.9 | 1092.1 | 1078.1 | 1151.2 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 20.5 | 11.4 | 14 | 14.7 | 11.4 | 11.5 | 12.1 | 14.1 | 14 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 414.2 | 327.2 | 420.7 | 339.6 | 327.2 | 364.5 | 359.6 | 385.8 | 420.7 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 198.7 | 165.7 | 150.6 | 170.1 | 165.7 | 156.9 | 170 | 150.7 | 150.6 | 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 | 562.4 | 539 | 565.9 | 518.3 | 539 | 581.9 | 550.4 | 527.5 | 565.9 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 6.8 | 6.6 | 5.3 | 7.9 | 6.6 | 6.8 | 5.9 | 5.8 | 5.3 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 3374.2 | 3006.6 | 3348.4 | 2808.3 | 3006.6 | 3008.2 | 3166.1 | 3053.6 | 3348.4 | 13 |
| State and local government employee defined benefit retirement funds; mutual fund shares; asset | LM223064243 | 93.3 | 53.1 | 63.1 | 88 | 53.1 | 112.6 | 82.1 | 65.4 | 63.1 | 14 |
| State and local government employee defined benefit retirement funds; miscellaneous assets | FL223090045 | 4487.1 | 4197.4 | 4090.1 | 4636.8 | 4197.4 | 4206.2 | 4217 | 4386 | 4090.1 | 15 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (2) | FL223073045 | 3535.6 | 3205.3 | 2938.8 | 3639.5 | 3205.3 | 3138.2 | 3093.5 | 3288.9 | 2938.8 | 16 |
| State and local government employee defined benefit retirement funds; unidentified miscellaneous assets | LM223093043 | 951.5 | 992.1 | 1151.3 | 997.3 | 992.1 | 1067.9 | 1123.5 | 1097.1 | 1151.3 | 17 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) (3) | FL224190043 | 9416.1 | 8632.1 | 8933.7 | 8828.1 | 8632.1 | 8707.5 | 8782.9 | 8858.3 | 8933.7 | 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: March 7, 2024