Second quarter levels are benchmarked annually to U.S. Census Bureau, Annual Survey of Public Pensions: State & Local Data, Table 1: National Summary of Public-Employee Retirement Systems. Calculated as a proportion of Funds Held in Trust, Other Non-Governmental Investments, and Miscellaneous Investments. For quarters more recent than the benchmark, growth rates are estimated using U.S. Census Bureau, Quarterly Survey of Public Pensions. Series is converted to quarterly by interpolation. Unadjusted flow is the change in the level; data for the most recent ten years show no significant seasonality.
