Financial Accounts of the United States - Z.1
L.118.b Private defined benefit pension funds
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 assets1 | FL574090045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Checkable deposits and currency | FL573020043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Time and savings deposits | FL573030043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Money market fund shares | FL573034043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Security repurchase agreements | FL572051043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Debt securities | LM574022045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Open market paper | FL573069143 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Treasury securities | LM573061143 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Agency- and GSE-backed securities | LM573061743 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Corporate and foreign bonds | LM573063043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Loans (mortgages) | FL573065043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Corporate equities | LM573064143 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Mutual fund shares | LM573064243 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Miscellaneous assets | FL573090045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Unallocated insurance contracts2 | FL573095405 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Contributions receivable | FL573074043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Claims of pension fund on sponsor3 | FL573073005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Other | FL573093043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Pension entitlements (liabilities)4 | FL574190043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
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; series begins 1985:Q4.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued defined benefit pension entitlements.
Last Update: March 9, 2026