Financial Accounts of the United States - Z.1
S129s1.3.t State and local government employee defined benefit pension funds 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net acquisition of financial assets(1) | FA224090045 | 228.9 | 232.2 | 233.5 | 233.4 | 233.4 | 233.5 | 233.5 | 233.5 | 233.5 |
| Line 2 | Checkable deposits and currency | FA223020043 | -2.1 | 25.1 | -3.4 | 17.3 | -39.3 | -39.3 | 27.4 | 37.6 | -3.4 |
| Line 3 | Time and savings deposits | FA223030043 | -4.1 | -2.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 4 | Debt securities | FA224022045 | 28.1 | 152.5 | 103.9 | 50.5 | 33.9 | 98.9 | 148.9 | 134.0 | 141.9 |
| Line 5 | Open market paper | FA223069143 | 0.6 | 0.7 | 3.7 | 8.1 | -3.1 | 2.0 | 2.7 | 13.1 | 3.7 |
| Line 6 | Treasury securities | FA223061143 | 72.5 | 72.4 | 32.3 | -23.1 | 16.4 | -9.2 | 98.9 | 23.2 | 72.3 |
| Line 7 | Agency- and GSE-backed securities | FA223061743 | -7.7 | 19.2 | 20.7 | 13.3 | 2.2 | 84.1 | 51.3 | -54.8 | 10.7 |
| Line 8 | Municipal securities | FA223062043 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 9 | Corporate and foreign bonds | FA223063045 | -37.3 | 60.2 | 47.2 | 52.2 | 18.4 | 22.0 | -4.0 | 152.6 | 55.2 |
| Line 10 | Loans | FA224035045 | 9.4 | 50.6 | 53.5 | 128.8 | -3.5 | 4.1 | 126.6 | 86.7 | 93.5 |
| Line 11 | Security repurchase agreements | FA222051043 | 11.1 | 50.3 | 52.8 | 125.9 | -3.2 | 3.5 | 126.9 | 84.0 | 92.8 |
| Line 12 | Mortgages | FA223065043 | -1.7 | 0.4 | 0.7 | 2.8 | -0.3 | 0.7 | -0.3 | 2.7 | 0.7 |
| Line 13 | Corporate equities | FA223064145 | -92.1 | -193.6 | -167.2 | -177.8 | -65.9 | -226.6 | -174.7 | -201.7 | -102.2 |
| Line 14 | Money market fund shares | FA223034043 | -5.5 | 6.9 | 4.9 | 6.8 | -7.1 | 24.3 | 4.9 | -2.6 | 4.9 |
| Line 15 | Mutual fund shares | FA223064243 | 16.2 | -34.5 | 11.9 | 1.8 | 7.8 | 61.4 | -9.5 | -12.2 | 11.9 |
| Line 16 | Miscellaneous assets | FA223090045 | 278.9 | 227.4 | 229.9 | 206.0 | 307.5 | 310.6 | 109.9 | 191.7 | 87.0 |
| Line 17 | Claims of pension fund on sponsor(2) | FA223073045 | 255.7 | 261.6 | 258.5 | 269.4 | 257.5 | 258.9 | 258.9 | 258.9 | 259.0 |
| Line 18 | Other | FA223093043 | 23.2 | -34.2 | -28.6 | -63.4 | 50.0 | 51.8 | -148.9 | -67.1 | -172.0 |
| Line 19 | Net increase in pension entitlements (liabilities) | FA224190043 | 233.8 | 236.9 | 238.0 | 238.0 | 238.0 | 238.0 | 238.0 | 238.0 | 238.0 |
Notes:
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Unfunded defined benefit pension entitlements.
Last Update: June 11, 2026