L.120 State and Local Government Employee Retirement Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
Description Series code 2017 2018 2019 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 Line
State and local government employee retirement funds; total financial assets (1) FL224090005 8705.2 8931.6 9201.9 8971.0 9057.1 9111.4 9201.9 9214.5 9325.9 1
State and local government employee defined benefit retirement funds; checkable deposits and currency; asset FL223020043 30.2 28.6 20.6 19.5 25.4 26.8 20.6 20.5 20.8 2
State and local government employee defined benefit retirement funds; total time and savings deposits; asset FL223030043 2.5 2.2 4.6 0.0 1.6 1.9 4.6 4.6 5.8 3
State and local government employee retirement funds; money market fund shares; asset FL223034005 62.1 59.7 20.6 24.2 18.2 19.0 20.6 29.9 31.3 4
State and local government employee defined benefit retirement funds; security repurchase agreements; asset FL222051043 4.7 4.5 7.2 3.7 3.5 11.7 7.2 7.1 7.9 5
State and local government employee defined benefit retirement funds retirement funds; debt securities; asset LM224022045 955.0 975.6 955.5 1024.4 1007.7 1006.8 955.5 971.2 951.9 6
State and local government employee defined benefit retirement funds; commercial paper; asset FL223069143 54.0 52.1 11.1 19.7 17.9 11.8 11.1 14.9 13.7 7
State and local government employee defined benefit retirement funds; Treasury securities; asset LM223061143 289.4 367.9 353.0 358.9 388.8 349.0 353.0 352.1 337.6 8
State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset LM223061743 109.5 141.8 170.5 144.8 153.2 179.0 170.5 181.3 160.7 9
State and local government employee defined benefit retirement funds; municipal securities; asset LM223062043 3.4 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10
State and local government employee defined benefit retirement funds; corporate and foreign bonds; asset LM223063045 498.8 409.8 420.9 501.0 447.8 467.0 420.9 422.9 439.9 11
State and local government employee defined benefit retirement funds; total mortgages; asset FL223065043 6.9 12.3 8.7 9.7 9.4 9.2 8.7 9.7 9.6 12
State and local government employee defined benefit retirement funds; corporate equities; asset LM223064145 2706.8 2478.6 2498.4 2417.1 2505.7 2394.2 2498.4 2151.2 2553.3 13
State and local government employee retirement funds; mutual fund shares; asset LM223064205 481.3 445.0 378.8 322.5 357.6 388.5 378.8 301.3 351.2 14
State and local government employee retirement funds; miscellaneous assets FL223090005 4455.6 4925.1 5307.6 5149.9 5128.0 5253.3 5307.6 5719.0 5394.1 15
State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) FL223095505 240.2 233.4 253.7 245.2 249.3 249.0 253.7 232.0 245.1 16
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) FL223073045 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 17
State and local government employee retirement funds; miscellaneous assets FL223093005 198.3 200.0 807.6 550.6 632.8 670.1 807.6 690.2 813.7 18
State and local government employee retirement funds; pension entitlements (total liabilities) (4) FL224190005 8790.1 9000.9 9326.6 9098.7 9174.0 9240.9 9326.6 9331.8 9439.2 19
State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) FL224190043 8322.9 8584.8 8850.8 8650.7 8717.1 8784.1 8850.8 8917.6 8984.4 20
State and local government employee defined benefit retirement funds; total funded assets (5) FL222000075 4305.8 4093.2 4604.5 4296.7 4471.2 4450.0 4604.5 4120.9 4649.0 21
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FL223073045 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 22
State and local government employee defined benefit retirement funds; total financial assets (6) FL224090045 8238.0 8515.6 8726.1 8523.0 8600.3 8654.6 8726.1 8800.3 8871.1 23
State and local government employee defined contribution retirement funds; total financial assets (7) FL224090055 467.2 416.0 475.8 448.0 456.9 456.8 475.8 414.2 454.8 24

NOTES

  1. Includes claims on sponsor (i.e., unfunded pension entitlements).
  2. Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
  3. Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
  4. Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.
  5. Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
  6. Additional detail on defined benefit plans is available on table L.120.b.
  7. Additional detail on defined contribution plans is available on table L.120.c.
Last Update: September 21, 2020