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
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| Description | Series code | 2022 | 2023 | 2024 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; total financial assets (2) | FL594090005 | 24527.8 | 26371.7 | 27933.1 | 25462.3 | 26371.7 | 27054.9 | 27287.4 | 27883.0 | 27933.1 | 1 |
| Pension funds; checkable deposits and currency; asset | FL593020005 | 48.8 | 46.1 | 71.9 | 51.5 | 46.1 | 56.9 | 62.2 | 67.8 | 71.9 | 2 |
| Pension funds; total time and savings deposits; asset | FL593030005 | 20.8 | 15.3 | 11.6 | 16.1 | 15.3 | 14.6 | 14.6 | 12.1 | 11.6 | 3 |
| Pension funds; money market fund shares; asset | FL593034005 | 222.7 | 213.6 | 215.1 | 215.7 | 213.6 | 221.5 | 219.6 | 215.7 | 215.1 | 4 |
| Pension funds; security repurchase agreements; asset | FL592051005 | 62.3 | 69.4 | 96.8 | 65.7 | 69.4 | 73.9 | 84.6 | 90.8 | 96.8 | 5 |
| Pension funds; debt securities; asset | LM594022005 | 2551.6 | 2687.1 | 2874.9 | 2538.6 | 2687.1 | 2701.0 | 2765.4 | 2936.2 | 2874.9 | 6 |
| Pension funds; commercial paper; asset | FL593069105 | 46.1 | 42.8 | 38.0 | 45.2 | 42.8 | 44.6 | 43.8 | 39.8 | 38.0 | 7 |
| Pension funds; Treasury securities; asset | LM593061105 | 766.9 | 859.8 | 974.9 | 805.9 | 859.8 | 872.3 | 909.7 | 984.5 | 974.9 | 8 |
| Pension funds; agency- and GSE-backed securities; asset | LM593061705 | 391.7 | 394.2 | 412.2 | 377.4 | 394.2 | 395.6 | 400.7 | 416.4 | 412.2 | 9 |
| Pension funds; municipal securities; asset | LM593062045 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 10 |
| Pension funds; corporate and foreign bonds; asset | LM593063005 | 1346.9 | 1390.2 | 1449.8 | 1310.1 | 1390.2 | 1388.5 | 1411.3 | 1495.5 | 1449.8 | 11 |
| Pension funds; loans; asset | FL594023005 | 2705.4 | 2954.5 | 3191.9 | 2738.4 | 2954.5 | 2944.6 | 2960.9 | 3010.9 | 3191.9 | 12 |
| Federal government retirement funds; other loans and advances; asset (3) | FL343069005 | 2680.2 | 2934.4 | 3176.0 | 2717.0 | 2934.4 | 2925.6 | 2942.7 | 2993.6 | 3176.0 | 13 |
| Pension funds; total mortgages; asset | FL593065005 | 25.2 | 20.1 | 15.9 | 21.4 | 20.1 | 19.0 | 18.2 | 17.3 | 15.9 | 14 |
| Pension funds; corporate equities; asset | LM593064105 | 6548.6 | 7680.4 | 8862.1 | 7016.8 | 7680.4 | 8270.9 | 8414.1 | 8796.5 | 8862.1 | 15 |
| Pension funds; mutual fund shares; asset | LM593064205 | 4551.2 | 5257.5 | 5730.1 | 4812.2 | 5257.5 | 5550.7 | 5593.2 | 5852.2 | 5730.1 | 16 |
| Pension funds; total miscellaneous assets | FL593090005 | 7816.5 | 7447.8 | 6878.6 | 8007.4 | 7447.8 | 7221.0 | 7172.8 | 6900.8 | 6878.6 | 17 |
| Pension funds; unallocated insurance contracts; asset (4) | FL593095005 | 882.0 | 925.2 | 976.0 | 903.6 | 925.2 | 943.4 | 951.8 | 970.8 | 976.0 | 18 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 73.2 | 73.2 | 73.8 | 73.3 | 73.2 | 73.3 | 73.7 | 73.7 | 73.8 | 19 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FL593073005 | 5026.8 | 4549.7 | 3908.1 | 5170.9 | 4549.7 | 4282.7 | 4241.7 | 3928.7 | 3908.1 | 20 |
| Pension funds; unidentified miscellaneous assets | FL593093005 | 1834.4 | 1899.8 | 1920.7 | 1859.5 | 1899.8 | 1921.6 | 1905.5 | 1927.6 | 1920.7 | 21 |
| Pension funds; total liabilities (6) | FL594190005 | 24784.8 | 26557.3 | 28123.3 | 25650.9 | 26557.3 | 27244.1 | 27474.7 | 28072.7 | 28123.3 | 22 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 15658.3 | 16023.8 | 16252.7 | 15931.7 | 16023.8 | 16081.4 | 16138.4 | 16196.2 | 16252.7 | 23 |
| Defined benefit pension funds; total funded assets (7) | FL592000075 | 10631.4 | 11474.1 | 12344.6 | 10760.7 | 11474.1 | 11798.7 | 11896.7 | 12267.5 | 12344.6 | 24 |
| Pension funds; defined benefit claims of pension fund on sponsor; asset | FL593073045 | 5026.8 | 4549.7 | 3908.1 | 5170.9 | 4549.7 | 4282.7 | 4241.7 | 3928.7 | 3908.1 | 25 |
| Households and nonprofit organizations; retirement assets (8) | FL153050015 | 39809.4 | 43463.7 | ND | 41448.5 | 43463.7 | 44992.2 | 45459.5 | 46792.5 | ND | 26 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FL594190045 | 15658.3 | 16023.8 | 16252.7 | 15931.7 | 16023.8 | 16081.4 | 16138.4 | 16196.2 | 16252.7 | 27 |
| Defined contribution pension funds; total financial assets | FL594090055 | 9126.6 | 10533.5 | 11870.7 | 9719.2 | 10533.5 | 11162.7 | 11336.2 | 11876.6 | 11870.7 | 28 |
| All sectors; IRAs; liability (9) | LM893131573 | 11950.0 | 13556.0 | ND | 12566.0 | 13556.0 | 14307.0 | 14528.0 | 15193.0 | ND | 29 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (10) | FL543150015 | 3074.6 | 3350.4 | ND | 3231.7 | 3350.4 | 3441.2 | 3456.8 | 3526.8 | ND | 30 |
NOTES
- Sum of 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: March 13, 2025