Financial Accounts of the United States - Z.1
L.118 Private pension funds1
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total financial assets2 | FL574090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Checkable deposits and currency | FL573020005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Time and savings deposits | FL573030005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Money market fund shares | FL573034005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Security repurchase agreements | FL572051005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Debt securities | LM574022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Open market paper | FL573069105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Treasury securities | LM573061105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Agency- and GSE-backed securities | LM573061705 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Corporate and foreign bonds | LM573063005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Loans (mortgages) | FL573065005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Corporate equities | LM573064105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Mutual fund shares | LM573064205 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Miscellaneous assets | FL573090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Unallocated insurance contracts3 | FL573095005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Contributions receivable | FL573074005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Claims of pension fund on sponsor4 | FL573073005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Other | FL573093005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Pension entitlements (liabilities)5 | FL574190005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Memo: | |||||||||||
| Line 20 | Pension entitlements of defined benefit plans | FL574190043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Funded by assets6 | FL572000075 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Unfunded (line 17) | FL573073005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total financial assets | |||||||||||
| Line 23 | Defined benefit plans7 | FL574090045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Defined contribution plans8 | FL574090055 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Sum of private defined benefit plans and defined contribution plans (including 401(k) type plans).
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- 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.
- Additional detail on defined benefit plans is available on tables L.118.b.
- Additional detail on defined contribution plans is available on table L.118.c.
Last Update: March 9, 2026