Financial Accounts of the United States - Z.1
F.120.b State and Local Government Employee Retirement Funds Defined Benefit Plans
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2022 | 2023 | 2024 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee defined benefit retirement funds; total financial assets (1) | FA224090045 | 218.1 | 217.1 | 216.4 | 216.9 | 216.4 | 216.4 | 216.3 | 216.4 | 216.4 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FA223020043 | -2.1 | -2.5 | 26.3 | 2.0 | -21.6 | 43.2 | 22.3 | 23.1 | 16.7 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FA223030043 | 4.0 | -4.1 | -2.2 | 10.8 | -2.1 | -1.6 | 0.8 | -8.0 | 0.0 | 3 |
| State and local government employee defined benefit retirement funds; money market fund shares; asset | FA223034043 | -4.3 | -5.9 | 5.8 | 9.7 | -4.9 | 34.7 | -5.9 | -9.1 | 3.7 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FA222051043 | 20.2 | 9.4 | 29.6 | 142.9 | 16.6 | 19.3 | 44.6 | 27.6 | 27.0 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 15.3 | 18.3 | 196.0 | 21.0 | 14.7 | 148.3 | 280.6 | 195.5 | 159.7 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | -9.3 | 0.3 | -1.3 | 6.1 | -6.6 | 9.4 | -0.8 | -11.4 | -2.4 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | FA223061143 | -33.1 | 65.8 | 114.6 | 114.7 | 39.7 | 88.1 | 144.3 | 126.3 | 99.6 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | -16.2 | -3.8 | 16.5 | -59.4 | 24.1 | 14.9 | 14.7 | 18.3 | 18.0 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | FA223062043 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 10 |
| State and local government employee defined benefit retirement funds; corporate and foreign bonds; asset | FA223063045 | 73.9 | -44.0 | 66.3 | -40.4 | -42.5 | 36.0 | 122.4 | 62.3 | 44.5 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FA223065043 | -0.3 | -1.8 | -0.3 | -0.9 | -2.9 | -2.1 | 0.9 | 0.9 | -0.8 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | FA223064145 | -90.0 | -90.2 | -256.5 | -77.8 | -121.8 | -166.8 | -354.5 | -275.3 | -229.5 | 13 |
| State and local government employee defined benefit retirement funds; mutual fund shares; asset | FA223064243 | -23.3 | 22.5 | -52.6 | -24.7 | -2.3 | -115.0 | -4.5 | -48.4 | -42.5 | 14 |
| State and local government employee defined benefit retirement funds; miscellaneous assets | FA223090045 | 298.8 | 271.4 | 270.2 | 133.9 | 340.7 | 256.4 | 232.2 | 310.0 | 282.0 | 15 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (2) | FA223073045 | 250.5 | 260.2 | 259.5 | 260.2 | 260.2 | 260.2 | 260.2 | 260.1 | 257.4 | 16 |
| State and local government employee defined benefit retirement funds; unidentified miscellaneous assets | FA223093043 | 48.2 | 11.2 | 10.7 | -126.4 | 80.4 | -3.8 | -28.0 | 49.9 | 24.6 | 17 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FA224190043 | 223.4 | 221.9 | 221.3 | 221.7 | 221.3 | 221.3 | 221.3 | 221.3 | 221.3 | 18 |
NOTES
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Unfunded defined benefit pension entitlements.
Last Update: March 13, 2025