Financial Accounts of the United States - Z.1
S.64.a Pension funds
Billions of dollars
| Line | Description | Series | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA596902505 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Less: Consumption of fixed capital | FA596330081 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Equals: Net value added | FA596902605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Compensation of employees (paid) | FA596025005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Wages and salaries | FA596020001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Employers' social contributions | FA596401001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Taxes on production and imports less subsidies | FA596240101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Operating surplus, net | FA596402101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Net national income/Balance of primary incomes, net | FA596140005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Operating surplus, net | FA596402101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Property income (received) | FA596150105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Interest | FA596130101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Distributed income of corporations (dividends) | FA596121101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Reinvested earnings on U.S. direct investment abroad | FA593092281 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Less: Uses of property income (paid) | FA596150005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Interest | FA596130001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Distributed income of corporations | FA596120005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Dividends | FA596121001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Withdrawals from income of quasi-corporations1 | FA596122001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Reinvested earnings on foreign direct investment | FA593192281 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Rents on land and natural resources | FA596112001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Net national income/Balance of primary incomes, net | FA596140005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Less: Current taxes on income, wealth, etc. (paid) | FA596220001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Plus: Other current transfers received, net | FA596403105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Equals: Disposable income, net | FA596012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Equals: Net saving | FA596012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Capital account | ||||||||||
| Line 27 | Net saving less capital transfers | FA596006385 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Net saving | FA596012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 29 | Less: Capital transfers (net) | FA575440043 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Capital formation, net | FA595015085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 31 | Gross fixed capital formation (nonresidential) | FA595013081 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 32 | Less: Consumption of fixed capital | FA596330081 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 33 | Net lending (+) or borrowing (-), capital account (lines 27-30) | FA595000995 | -- | -- | -- | -- | -- | -- | -- | -- |
| Addenda: | ||||||||||
| Line 34 | Other current transfers received, net (line 24) | FA596403105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 35 | Contributions received | FA596403115 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 36 | Claims to pension benefits | FA596403125 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 37 | Actual employer contributions | FA596403133 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 38 | Imputed employer contributions | FA596403143 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 39 | Actual household contributions | FA596403153 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 40 | Less: pension service charges for defined benefit (DB) plans | FA596403013 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 41 | Household pension contribution supplements | FA596403163 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 42 | Less: pension service charge for defined contribution (DC) plans | FA596403023 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 43 | Less: benefit payments and withdrawals | FA596403033 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 44 | Less: net change in benefit entitlements from DB plans | FA596403043 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 45 | Less: net change in assets from current transaction for DC plans | FA596403053 | -- | -- | -- | -- | -- | -- | -- | -- |
| Financial account | ||||||||||
| Line 46 | Net lending (+) or borrowing (-) (line 33) | FA595000995 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 47 | Net acquisition of financial assets | FA594090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 48 | Currency and deposits | FA594000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 49 | Currency and transferable deposits | FA593020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 50 | Time and savings deposits | FA593030005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 51 | Debt securities | FA594022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 52 | Open market paper | FA593069105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 53 | Treasury securities | FA593061105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 54 | Agency- and GSE-backed securities2 | FA593061705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 55 | Municipal securities | FA593062045 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 56 | Corporate and foreign bonds | FA593063005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 57 | Loans | FA594035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 58 | Short term | FA594041005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 59 | Long term (mortgages) | FA593065005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 60 | Equity and investment fund shares | FA593081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 61 | Corporate equities | FA593064105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 62 | Mutual fund shares | FA593064205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 63 | Money market fund shares | FA593034005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 64 | Insurance, pension and standardized guarantee schemes | FA593052025 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 65 | Other accounts receivable | FA593093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 66 | Net incurrence of liabilities (pension entitlements) | FA594190005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Addendum: | ||||||||||
| Line 67 | Net lending (+) or borrowing (-), financial account (lines 47-66) | FA595000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Other changes in volume account | ||||||||||
| Line 68 | Total other volume changes | FV598090185 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 69 | Disaster losses | FV592010095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 70 | Other volume changes | FV598090085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 71 | Less: Statistical discrepancy (lines 33-67)3 | FU597005045 | -- | -- | -- | -- | -- | -- | -- | -- |
| Revaluation account | ||||||||||
| Line 72 | Nonfinancial assets | FR592010095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 73 | Structures (nonresidential) | FR595013665 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 74 | Equipment | FR595013265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 75 | Intellectual property products | FR595013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 76 | Financial assets | FR594090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 77 | Debt securities | FR594022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 78 | Corporate equities | FR593064105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 79 | Mutual fund shares | FR593064205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 80 | Insurance, pension, and standardized guarantee schemes | FR593052025 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 81 | Other accounts receivable | FR593093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 82 | Liabilities (pension entitlements) | FR594190005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 83 | Changes in net worth due to nominal holding gains/losses | FR592090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Changes in balance sheet account | ||||||||||
| Line 84 | Change in net worth (lines 30+33+68+83) | FC592090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Balance sheet account (end of period) | ||||||||||
| Line 85 | Total assets | FL592000095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 86 | Nonfinancial assets4 | LM592010095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 87 | Structures (nonresidential) | LM595013665 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 88 | Equipment | LM595013265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 89 | Intellectual property products | LM595013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 90 | Financial assets | FL594090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 91 | Currency and deposits | FL594000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 92 | Currency and transferable deposits | FL593020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 93 | Time and savings deposits | FL593030005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 94 | Debt securities | LM594022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 95 | Open market paper | FL593069105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 96 | Treasury securities | LM593061105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 97 | Agency- and GSE-backed securities2 | LM593061705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 98 | Municipal securities | LM593062045 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 99 | Corporate and foreign bonds | LM593063005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 100 | Loans | FL594035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 101 | Short term | FL594041005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 102 | Long term (mortgages) | FL593065005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 103 | Equity and investment fund shares | FL593081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 104 | Corporate equities | LM593064105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 105 | Mutual fund shares | LM593064205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 106 | Money market fund shares | FL593034005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 107 | Insurance, pension and standardized guarantee schemes | FL593052025 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 108 | Other accounts receivable | FL593093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 109 | Total liabilities and net worth | FL592000095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 110 | Liabilities (pension entitlements) | FL594190005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 111 | Net worth | FL592090095 | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Consists of rental income of tenant-occupied housing and proprietors' income. Quasi-corporations are unincorporated enterprises that function as if they were corporations; they primarily cover their operating costs through sales, and they keep a complete set of financial records.
- Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.
- The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
- Excludes land.
Last Update: March 9, 2026