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 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 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 | 1.4 | 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 | 2.4 | 2.7 | 2.9 | 2.9 | 2.9 | 2.9 | 3 | 3 | 3.1 | 2 |
| State and local government employee retirement funds; total financial assets (1) | FA224090005 | 224.4 | 272.4 | 309.4 | 307.7 | 312.9 | 305.1 | 311.7 | 324.3 | 313.8 | 3 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FA223020043 | -0.3 | -2.1 | -1.9 | -8 | 18.2 | 2 | -19.9 | 41.3 | 9.5 | 4 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FA223030043 | 0.1 | 4 | -4.1 | -14.6 | -10.7 | 10.9 | -1.9 | -2.4 | -0.9 | 5 |
| State and local government employee retirement funds; money market fund shares; asset | FA223034005 | 2.7 | -4.4 | -4.5 | -3.7 | -20.5 | 9.8 | -3.6 | 10.2 | -1.7 | 6 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FA222051043 | 19.7 | 20.3 | 10.8 | 21.6 | -143.4 | 143.5 | 21.4 | 16.6 | 8.7 | 7 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 149.4 | 15.6 | 33.9 | 82.4 | -56.1 | 22.5 | 86.6 | 105.2 | 36 | 8 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | 11.7 | -9.3 | 0.6 | -0.1 | 2 | 6.1 | -5.7 | 3.8 | 1.4 | 9 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | FA223061143 | 78.5 | -33 | 73.2 | 104 | 0.2 | 116.1 | 72.5 | 74.4 | 59.9 | 10 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | 9.3 | -16.1 | -6.6 | -41.7 | 54.8 | -58.3 | 19 | 18.7 | 7.8 | 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 | 74.1 | -33.4 | 20.2 | -112.9 | -41.4 | 0.8 | 8.3 | -33.1 | 13 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FA223065043 | -0.3 | -0.3 | -1.7 | 0.3 | -3.7 | -0.9 | -2.5 | -2.3 | -2.1 | 14 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | FA223064145 | -132.1 | -81.6 | -101.2 | -296.7 | 136.3 | -64.8 | -179.4 | -79 | -33.4 | 15 |
| State and local government employee retirement funds; mutual fund shares; asset | FA223064205 | -162.5 | -47.4 | 17.5 | 217.7 | -93.6 | -28.7 | -25.5 | -114.8 | -73 | 16 |
| State and local government employee retirement funds; miscellaneous assets | FA223090005 | 347.7 | 368.4 | 360.6 | 308.7 | 486.3 | 210.8 | 436.6 | 349.5 | 370.9 | 17 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FA223095505 | 14.4 | 12.6 | 8.3 | 11.9 | 6.1 | 7 | 8.1 | 12.9 | 11.2 | 18 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FA223073045 | 272 | 307.6 | 334.3 | 334.3 | 334.3 | 334.3 | 334.3 | 334.3 | 334.2 | 19 |
| State and local government employee retirement funds; miscellaneous assets | FA223093005 | 61.3 | 48.2 | 18 | -37.6 | 145.9 | -130.5 | 94.2 | 2.4 | 25.5 | 20 |
| State and local government employee retirement funds; pension entitlements (total liabilities) | FA224190005 | 226.1 | 273.8 | 310.9 | 309.2 | 314.5 | 306.7 | 313.3 | 326 | 315.5 | 21 |
| State and local government employee defined benefit retirement funds; total financial assets (4) | FA224090045 | 244.7 | 285.1 | 300 | 294.4 | 298.2 | 301.9 | 305.6 | 305.6 | 305.6 | 22 |
| State and local government employee defined contribution retirement funds; total financial assets (5) | FA224090055 | -20.2 | -12.8 | 9.3 | 13.3 | 14.7 | 3.2 | 6.1 | 18.7 | 8.3 | 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: September 12, 2024