Financial Accounts of the United States - Z.1
L.120 State and Local Government Employee Retirement Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2018 | 2019 | 2020 | 2020 Q1 | 2020 Q2 | 2020 Q3 | 2020 Q4 | 2021 Q1 | 2021 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local government employee retirement funds; total financial assets (1) | FL224090005 | 8930.0 | 9220.4 | 9531.8 | 9260.0 | 9371.9 | 9463.4 | 9531.8 | 9638.2 | 9729.1 | 1 |
| State and local government employee defined benefit retirement funds; checkable deposits and currency; asset | FL223020043 | 28.6 | 23.0 | 27.7 | 22.1 | 20.6 | 21.0 | 27.7 | 23.1 | 23.4 | 2 |
| State and local government employee defined benefit retirement funds; total time and savings deposits; asset | FL223030043 | 2.2 | 4.5 | 2.3 | 4.2 | 2.8 | 2.4 | 2.3 | 2.5 | 1.9 | 3 |
| State and local government employee retirement funds; money market fund shares; asset | FL223034005 | 59.7 | 20.7 | 24.8 | 29.9 | 27.9 | 27.5 | 24.8 | 28.9 | 28.5 | 4 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.5 | 7.0 | 8.1 | 6.5 | 4.0 | 2.6 | 8.1 | 20.0 | 24.1 | 5 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 975.6 | 970.9 | 1068.0 | 977.2 | 1003.3 | 1026.3 | 1068.0 | 1059.1 | 1108.8 | 6 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 52.1 | 10.8 | 8.9 | 13.9 | 9.1 | 9.2 | 8.9 | 16.7 | 17.6 | 7 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 367.9 | 344.1 | 354.2 | 336.8 | 306.3 | 327.0 | 354.2 | 374.6 | 400.7 | 8 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | LM223061743 | 141.8 | 167.6 | 193.2 | 178.9 | 186.1 | 197.4 | 193.2 | 191.8 | 200.9 | 9 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 4.0 | 0.0 | 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 | 409.8 | 448.4 | 511.7 | 447.6 | 501.8 | 492.6 | 511.7 | 476.0 | 489.6 | 11 |
| State and local government employee defined benefit retirement funds; total mortgages; asset | FL223065043 | 12.3 | 8.4 | 7.8 | 8.9 | 8.1 | 8.4 | 7.8 | 8.4 | 8.2 | 12 |
| State and local government employee defined benefit retirement funds; corporate equities; asset | LM223064145 | 2478.6 | 2576.9 | 2861.9 | 2174.5 | 2376.0 | 2585.5 | 2861.9 | 2999.1 | 3204.2 | 13 |
| State and local government employee retirement funds; mutual fund shares; asset | LM223064205 | 446.9 | 374.6 | 445.4 | 305.7 | 354.9 | 372.7 | 445.4 | 418.1 | 438.6 | 14 |
| State and local government employee retirement funds; miscellaneous assets | FL223090005 | 4921.6 | 5234.3 | 5085.9 | 5731.0 | 5574.3 | 5417.1 | 5085.9 | 5079.1 | 4891.2 | 15 |
| State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) | FL223095505 | 232.6 | 253.9 | 270.6 | 247.7 | 255.7 | 262.6 | 270.6 | 272.1 | 280.5 | 16 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 4488.9 | 4157.6 | 4037.0 | 4750.2 | 4499.4 | 4377.5 | 4037.0 | 4002.6 | 3799.4 | 17 |
| State and local government employee retirement funds; miscellaneous assets | FL223093005 | 200.1 | 822.8 | 778.3 | 733.1 | 819.1 | 777.0 | 778.3 | 804.4 | 811.3 | 18 |
| State and local government employee retirement funds; pension entitlements (total liabilities) (4) | FL224190005 | 8999.3 | 9343.2 | 9678.4 | 9369.8 | 9481.0 | 9572.5 | 9678.4 | 9760.0 | 9856.1 | 19 |
| State and local government employee defined benefit retirement funds; pension entitlements (total liabilities) | FL224190043 | 8582.1 | 8866.4 | 9158.1 | 8939.0 | 9011.7 | 9085.0 | 9158.1 | 9231.3 | 9304.4 | 20 |
| State and local government employee defined benefit retirement funds; total funded assets (5) | FL222000075 | 4093.2 | 4708.8 | 5121.1 | 4188.8 | 4512.2 | 4707.5 | 5121.1 | 5228.7 | 5505.0 | 21 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset | FL223073045 | 4488.9 | 4157.6 | 4037.0 | 4750.2 | 4499.4 | 4377.5 | 4037.0 | 4002.6 | 3799.4 | 22 |
| State and local government employee defined benefit retirement funds; total financial assets (6) | FL224090045 | 8512.9 | 8743.6 | 9011.6 | 8829.1 | 8902.5 | 8976.0 | 9011.6 | 9109.4 | 9177.4 | 23 |
| State and local government employee defined contribution retirement funds; total financial assets (7) | FL224090055 | 417.1 | 476.8 | 520.2 | 430.8 | 469.3 | 487.4 | 520.2 | 528.7 | 551.7 | 24 |
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.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.
- Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.
- Additional detail on defined benefit plans is available on table L.120.b.
- Additional detail on defined contribution plans is available on table L.120.c.
Last Update: September 23, 2021