Financial Accounts of the United States - Z.1
S129.3.s State and local government employee pension funds 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 | 2026:Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total financial assets(1) | FL224090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Checkable deposits and currency | FL223020043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Time and savings deposits | FL223030043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Debt securities | LM224022045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Open market paper | FL223069143 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Treasury securities | LM223061143 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Agency- and GSE-backed securities | LM223061743 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Municipal securities | LM223062043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Corporate and foreign bonds | LM223063045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Loans | FL224035045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Security repurchase agreements | FL222051043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Mortgages | FL223065043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Corporate equities | LM223064145 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Money market fund shares | FL223034005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Mutual fund shares | LM223064205 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Hedge fund shares | LM223064743 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Private debt fund shares | LM223064543 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Miscellaneous assets | FL223090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Unallocated insurance contracts(2) | FL223095505 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Claims of pension fund on sponsor(3) | FL223073045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Other | FL223093005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Pension entitlements (liabilities)(4) | FL224190005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Memo: | |||||||||||
| Line 23 | Pension entitlements of defined benefit plans | FL224190043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Funded by assets(5) | FL222000075 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Unfunded (line 18) | FL223073045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total financial assets | |||||||||||
| Line 26 | Defined benefit plans(6) | FL224090045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Defined contribution plans(7) | FL224090055 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.
- Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
- Additional detail on defined benefit plans is available on table S129s1.3.s.
- Additional detail on defined contribution plans is available on table S129s2.3.s.
Last Update: August 28, 2026