Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Year

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State	Assets² (US$ Billions)		Liabilities³ (US$ Billions)		Funding Status⁴ (US$ Billions)		Funding Ratio⁵ (%)		Funding Status Percent of GDP⁶ (%)
United States
Source: Includes defined-benefit pension plans sponsored by state and local governments for their employees. Return to text End of year pension assets estimated from Census Annual Survey of Pensions data. Return to table Pension liabilities are from BEA and referred to as pension entitlements in the Z.1 Financial Accounts of the United States. Return to table Assets less liabilities. Negative values indicate underfunding of pension plans. Return to table Assets as a percentage of Liabiltiies. Return to table State level GDP comes from BEA’s All Industry Total Annual GDP by State series. Return to table

Last Update: December 15, 2023

EFA: State Pensions