Financial Accounts of the United States - Z.1
F.118.b Private defined benefit pension funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net acquisition of financial assets1 | FA574090045 | -12.1 | -70.4 | -75.1 | -72.0 | -75.1 | -75.2 | -75.2 | -75.2 | -75.1 |
| Line 2 | Checkable deposits and currency | FA573020043 | -2.5 | -1.6 | -1.6 | -1.6 | -1.6 | -1.6 | -1.7 | -1.6 | -1.7 |
| Line 3 | Time and savings deposits | FA573030043 | -0.1 | -0.7 | -0.7 | -0.7 | -0.7 | -0.7 | -0.8 | -0.7 | -0.8 |
| Line 4 | Money market fund shares | FA573034043 | -0.3 | -2.9 | -3.0 | -2.9 | -3.0 | -2.9 | -3.1 | -3.0 | -3.1 |
| Line 5 | Security repurchase agreements | FA572051043 | -0.1 | -1.1 | -1.1 | -1.1 | -1.1 | -1.1 | -1.2 | -1.1 | -1.2 |
| Line 6 | Debt securities | FA574022045 | 58.7 | 18.9 | 19.5 | 18.7 | 19.4 | 18.9 | 19.8 | 19.3 | 20.1 |
| Line 7 | Open market paper | FA573069143 | -0.2 | -1.8 | -1.8 | -1.8 | -1.8 | -1.8 | -1.9 | -1.8 | -1.9 |
| Line 8 | Treasury securities | FA573061143 | 36.8 | 20.9 | 21.7 | 20.8 | 21.6 | 21.0 | 22.0 | 21.4 | 22.3 |
| Line 9 | Agency- and GSE-backed securities | FA573061743 | 17.6 | 8.4 | 8.7 | 8.3 | 8.6 | 8.4 | 8.8 | 8.6 | 8.9 |
| Line 10 | Corporate and foreign bonds | FA573063043 | 4.5 | -8.7 | -9.0 | -8.7 | -9.0 | -8.7 | -9.1 | -8.9 | -9.3 |
| Line 11 | Loans (mortgages) | FA573065043 | 7.3 | 4.5 | 4.7 | 4.5 | 4.7 | 4.5 | 4.7 | 4.6 | 4.8 |
| Line 12 | Corporate equities | FA573064143 | -209.8 | -157.8 | -163.3 | -156.8 | -162.7 | -158.0 | -165.4 | -161.5 | -168.2 |
| Line 13 | Mutual fund shares | FA573064243 | -53.1 | -43.9 | -45.5 | -43.7 | -45.3 | -44.0 | -46.1 | -45.0 | -46.9 |
| Line 14 | Miscellaneous assets | FA573090045 | 187.8 | 114.3 | 116.0 | 111.5 | 115.3 | 109.8 | 118.4 | 113.9 | 121.9 |
| Line 15 | Unallocated insurance contracts2 | FA573095405 | -5.1 | -3.8 | -4.0 | -3.8 | -3.9 | -3.8 | -4.0 | -3.9 | -4.1 |
| Line 16 | Contributions receivable | FA573074043 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 17 | Claims of pension fund on sponsor3 | FA573073005 | 221.4 | 146.6 | 149.5 | 143.6 | 148.7 | 142.2 | 152.4 | 147.0 | 156.4 |
| Line 18 | Other | FA573093043 | -28.7 | -28.6 | -29.5 | -28.4 | -29.4 | -28.6 | -29.9 | -29.2 | -30.4 |
| Line 19 | Net increase in pension entitlements (liabilities) | FA574190043 | -56.2 | -68.8 | -73.5 | -70.3 | -73.5 | -73.5 | -73.5 | -73.5 | -73.5 |
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.
Last Update: 2026-03-19