Financial Accounts of the United States - Z.1
L.120 State and Local Government Employee Retirement Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
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| Description | Series code | 2022 | 2023 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8854.5 | 9218.8 | 8999.1 | 9074.3 | 9133.7 | 9218.8 | 9291.8 | 9353.1 | 9423.3 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 26.2 | 23.8 | 24.2 | 28.7 | 29.2 | 23.8 | 35.3 | 41.4 | 44.6 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 6.4 | 2.2 | 2.7 | 0 | 2.8 | 2.2 | 1.9 | 2.1 | 2.6 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 22.1 | 17.2 | 21.2 | 16 | 18.4 | 17.2 | 20.5 | 19.1 | 20 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 47.9 | 57.3 | 53.3 | 17.4 | 53.1 | 57.3 | 64 | 76.3 | 91 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1024.4 | 1099.2 | 1090.8 | 1065.7 | 1035.9 | 1099.2 | 1151.8 | 1207.6 | 1294 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 11.2 | 11.5 | 11.1 | 11.6 | 13.1 | 11.5 | 12.9 | 12.2 | 12.4 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 321.3 | 395.3 | 356 | 350.7 | 365.8 | 395.3 | 423.9 | 460 | 508 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 162.7 | 162.5 | 155 | 168.8 | 151.7 | 162.5 | 166.7 | 162.1 | 164.8 | 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 | 529.2 | 529.9 | 568.7 | 534.7 | 505.3 | 529.9 | 548.3 | 573.2 | 608.7 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 6.5 | 4.7 | 6.5 | 5.6 | 5.4 | 4.7 | 4.3 | 4.5 | 4.3 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2952.4 | 3200.9 | 2945.3 | 3084.7 | 3006.8 | 3200.9 | 3325.6 | 3304.1 | 3428.9 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 195.4 | 240.3 | 259.7 | 237 | 221.6 | 240.3 | 220.3 | 221.8 | 221.9 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4573.2 | 4573.3 | 4595.4 | 4619.2 | 4760.6 | 4573.3 | 4468.2 | 4476.1 | 4315.9 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 279 | 288.9 | 283 | 285 | 284.9 | 288.9 | 294 | 297.8 | 302.4 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 3319.3 | 3190.2 | 3279.7 | 3258.7 | 3429.8 | 3190.2 | 3033.7 | 3022.7 | 2821.3 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 975 | 1094.2 | 1032.7 | 1075.5 | 1045.9 | 1094.2 | 1140.5 | 1155.7 | 1192.1 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 9072.2 | 9364.4 | 9148.7 | 9224.1 | 9282.4 | 9364.4 | 9436.6 | 9496.8 | 9565.6 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8648 | 8907.5 | 8712.9 | 8777.7 | 8842.6 | 8907.5 | 8962.8 | 9018.1 | 9073.5 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 5328.8 | 5717.2 | 5433.2 | 5519.1 | 5412.8 | 5717.2 | 5929.1 | 5995.4 | 6252.1 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 3319.3 | 3190.2 | 3279.7 | 3258.7 | 3429.8 | 3190.2 | 3033.7 | 3022.7 | 2821.3 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8430.4 | 8761.9 | 8563.3 | 8627.9 | 8693.9 | 8761.9 | 8818.1 | 8874.3 | 8931.1 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 424.2 | 456.9 | 435.8 | 446.4 | 439.8 | 456.9 | 473.8 | 478.7 | 492.1 | 24 |
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. Negative values indicate overfunding.
- Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.
- Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
- Additional detail on defined benefit plans is available on table L.120.b.
- Additional detail on defined contribution plans is available on table L.120.c.
Last Update: December 12, 2024