Description of table L.117 - Private and Public Pension Funds

The sector for private and public pension funds equals the sum of private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans (including 401(k) type plans).

The liabilities of the sector are the pension entitlements of the household sector. Holdings of debt securities, corporate equities, and mutual fund shares are recorded at market value.

A memo item at the bottom of the table shows household retirement assets in tax-deferred accounts, which includes, in addition to the defined benefit and defined contribution plans included on this table, individual retirement plans (IRAs) and annuities at life insurance companies.

Another memo item on L.117 shows the funding status of the DB plans.

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