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 | 2020 | 2021 | 2022 | 2023 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 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 | 0.3 | 0.7 | 1.3 | 1.4 | 1.3 | 1.3 | 1.4 | 1.4 | 1.4 | 1 |
| State and local government employee retirement funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA225013005 | 0.2 | 2.4 | 2.7 | 2.9 | 2.9 | 2.9 | 2.9 | 3 | 3 | 2 |
| State and local government employee retirement funds; total financial assets (1) | FA224090005 | 215.5 | 224.4 | 284.4 | 309.4 | 313.3 | 315 | 303.2 | 306.3 | 311.5 | 3 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FA223020043 | 6.3 | -0.3 | -1.7 | -1.6 | -7.4 | 19.6 | 2.1 | -20.6 | -1.6 | 4 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FA223030043 | -2 | 0.1 | 4.1 | -4.1 | -14.7 | -11 | 11.2 | -1.9 | -4.1 | 5 |
| State and local government employee retirement funds; money market fund shares; asset | FA223034005 | 0.2 | 2.7 | -3.9 | -4.4 | -3.1 | -20.7 | 10.1 | -3.7 | -5.3 | 6 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FA222051043 | 1.2 | 19.7 | 21.1 | 11.9 | 23.6 | -146.5 | 148.4 | 22.1 | 11.9 | 7 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 85.5 | 151 | 32.7 | 52.2 | 119.7 | -23.5 | 23.3 | 89.5 | 72.2 | 8 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | -3.7 | 11.7 | -9.2 | 0.8 | 0.2 | 2.4 | 6.3 | -5.9 | 0.8 | 9 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | FA223061143 | 4.3 | 79 | -27.6 | 80.9 | 117.1 | 11.3 | 120 | 75 | 80.8 | 10 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | 26.4 | 9.6 | -13.4 | -4.2 | -37.5 | 61.5 | -60.2 | 19.6 | -4.2 | 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 | 58.5 | 50.7 | 83 | -25.2 | 39.9 | -98.8 | -42.8 | 0.8 | -5.2 | 13 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FA223065043 | -0.9 | -0.3 | -0.2 | -1.6 | 0.5 | -3.6 | -0.9 | -2.6 | -1.6 | 14 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | FA223064145 | -28.8 | -111.8 | -42.5 | -38.3 | -268.8 | 178.5 | 37 | -99.7 | -103.2 | 15 |
| State and local government employee retirement funds; mutual fund shares; asset | FA223064205 | -3.1 | -162.4 | -35.2 | 18.6 | 224.9 | -94.5 | -29.8 | -26.3 | 8.2 | 16 |
| State and local government employee retirement funds; miscellaneous assets | FA223090005 | 157.1 | 325.6 | 310.1 | 276.7 | 238.7 | 416.8 | 101.8 | 349.5 | 335 | 17 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FA223095505 | 5.1 | 14.4 | 11.9 | 8.3 | 12 | 6.1 | 7 | 8.2 | 11.7 | 18 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FA223073045 | 261.6 | 248.2 | 233.2 | 233.1 | 233.1 | 233.1 | 233.1 | 233.1 | 233.1 | 19 |
| State and local government employee retirement funds; miscellaneous assets | FA223093005 | -109.6 | 63 | 65 | 35.3 | -6.4 | 177.6 | -138.4 | 108.2 | 90.2 | 20 |
| State and local government employee retirement funds; pension entitlements (total liabilities) | FA224190005 | 215.4 | 226.1 | 285.8 | 311 | 314.9 | 316.6 | 304.7 | 307.9 | 313.1 | 21 |
| State and local government employee defined benefit retirement funds; total financial assets (4) | FA224090045 | 227.8 | 244.7 | 285.1 | 300 | 300.1 | 300 | 300 | 300 | 300 | 22 |
| State and local government employee defined contribution retirement funds; total financial assets (5) | FA224090055 | -12.3 | -20.2 | -0.7 | 9.4 | 13.3 | 15 | 3.1 | 6.3 | 11.5 | 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: June 7, 2024