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 | 2020 | 2021 | 2022 | 2023 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; total financial assets (2) | FL594090005 | 25901.9 | 27447 | 25064.8 | 26877.6 | 25664.8 | 26163 | 25999.3 | 26877.6 | 27596.4 | 1 |
| Pension funds; checkable deposits and currency; asset | FL593020005 | 49.6 | 54 | 51.4 | 50.2 | 49.7 | 54.6 | 55.1 | 50.2 | 49.7 | 2 |
| Pension funds; total time and savings deposits; asset | FL593030005 | 19 | 19.6 | 24.7 | 21.5 | 21.2 | 18.8 | 21.8 | 21.5 | 20.8 | 3 |
| Pension funds; money market fund shares; asset | FL593034005 | 228.4 | 238.6 | 249.2 | 257.2 | 251.1 | 250.4 | 256.3 | 257.2 | 260.3 | 4 |
| Pension funds; security repurchase agreements; asset | FL592051005 | 26.4 | 46.4 | 68.3 | 81.3 | 74.5 | 38.2 | 75.5 | 81.3 | 84.5 | 5 |
| Pension funds; debt securities; asset | LM594022005 | 2866.5 | 3065.7 | 2764.2 | 3092.6 | 2941.1 | 2961.3 | 2892.3 | 3092.6 | 3112.5 | 6 |
| Pension funds; commercial paper; asset | FL593069105 | 49.4 | 62.3 | 55.4 | 58.5 | 56.1 | 57.4 | 59.5 | 58.5 | 59.4 | 7 |
| Pension funds; Treasury securities; asset | LM593061105 | 839.6 | 944.2 | 854 | 1046.5 | 947.1 | 972.9 | 972.1 | 1046.5 | 1062.2 | 8 |
| Pension funds; agency- and GSE-backed securities; asset | LM593061705 | 441.1 | 469.7 | 426.3 | 447.7 | 427.5 | 444 | 427.1 | 447.7 | 449.8 | 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 | 1536.4 | 1589.5 | 1428.4 | 1539.9 | 1510.4 | 1487 | 1433.6 | 1539.9 | 1541 | 11 |
| Pension funds; loans; asset | FL594023005 | 2305 | 2466.9 | 2713.1 | 2966.4 | 2670.3 | 2707.8 | 2749.5 | 2966.4 | 2957.4 | 12 |
| Federal government retirement funds; other loans and advances; asset (3) | FL343069005 | 2273.5 | 2434.7 | 2680.2 | 2934.4 | 2637.2 | 2675.3 | 2717 | 2934.4 | 2925.6 | 13 |
| Pension funds; total mortgages; asset | FL593065005 | 31.4 | 32.3 | 32.8 | 32 | 33.2 | 32.6 | 32.5 | 32 | 31.8 | 14 |
| Pension funds; corporate equities; asset | LM593064105 | 6703.5 | 7768 | 6356.6 | 7273.5 | 6553.4 | 6952 | 6711 | 7273.5 | 7748.6 | 15 |
| Pension funds; mutual fund shares; asset | LM593064205 | 5312.9 | 5728.4 | 4589.8 | 5310.4 | 4894.2 | 5051 | 4863.6 | 5310.4 | 5629.7 | 16 |
| Pension funds; total miscellaneous assets | FL593090005 | 8390.6 | 8059.4 | 8247.5 | 7824.5 | 8209.2 | 8128.7 | 8374.2 | 7824.5 | 7732.8 | 17 |
| Pension funds; unallocated insurance contracts; asset (4) | FL593095005 | 874.7 | 914.5 | 871.8 | 917.5 | 888.8 | 899.8 | 892.8 | 917.5 | 935.5 | 18 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 77.4 | 70.9 | 69 | 65.6 | 67.8 | 67 | 66.6 | 65.6 | 65.1 | 19 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FL593073005 | 5693.8 | 5139.6 | 5315.6 | 4695.8 | 5201.8 | 5052.8 | 5326.6 | 4695.8 | 4522.1 | 20 |
| Pension funds; unidentified miscellaneous assets | FL593093005 | 1744.7 | 1934.4 | 1991.1 | 2145.6 | 2050.7 | 2109 | 2088.1 | 2145.6 | 2210.1 | 21 |
| Pension funds; total liabilities (6) | FL594190005 | 26077.8 | 27660.7 | 25326.3 | 27073.2 | 25858.6 | 26359.1 | 26194.6 | 27073.2 | 27775.5 | 22 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 16457.8 | 16862.3 | 16201.2 | 16610.4 | 16304.2 | 16406.6 | 16507.4 | 16610.4 | 16713.1 | 23 |
| Defined benefit pension funds; total funded assets (7) | FL592000075 | 10764.1 | 11722.7 | 10885.5 | 11914.7 | 11102.3 | 11353.7 | 11180.8 | 11914.7 | 12191 | 24 |
| Pension funds; defined benefit claims of pension fund on sponsor; asset | FL593073045 | 5693.8 | 5139.6 | 5315.6 | 4695.8 | 5201.8 | 5052.8 | 5326.6 | 4695.8 | 4522.1 | 25 |
| Households and nonprofit organizations; retirement assets (8) | FL153050015 | 41865.4 | 45435.5 | 40359.2 | 43990.2 | 41524.4 | 42611.8 | 42013.1 | 43990.2 | ND | 26 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 16457.8 | 16862.3 | 16201.2 | 16610.4 | 16304.2 | 16406.6 | 16507.4 | 16610.4 | 16713.1 | 27 |
| Defined contribution pension funds; total financial assets | FL594090055 | 9620 | 10798.3 | 9125.2 | 10462.8 | 9554.4 | 9952.6 | 9687.3 | 10462.8 | 11062.4 | 28 |
| All sectors; IRAs; liability (9) | LM893131573 | 12661 | 14460 | 11950 | 13556 | 12465 | 12955 | 12566 | 13556 | ND | 29 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (10) | FL543150015 | 3126.6 | 3314.9 | 3082.8 | 3361 | 3200.8 | 3297.6 | 3252.4 | 3361 | 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: June 7, 2024