F.120 State and Local Government Employee Retirement Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Description Series code 2019 2020 2021 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 Line
State and local government employee retirement funds; consumption of fixed capital, nonresidential structures, equipment, and intellectual property products, current cost basis (gross saving) FA226330005 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 1
State and local government employee retirement funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products FA225013005 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 2
State and local government employee retirement funds; total financial assets (1) FA224090005 229.7 242.5 251.0 246.2 248.3 246.4 263.2 246.4 230.2 3
State and local government employee defined benefit retirement funds; checkable deposits and currency; asset FA223020043 4.0 6.0 -0.8 -12.7 4.1 29.6 -24.1 1.7 3.2 4
State and local government employee defined benefit retirement funds; total time and savings deposits; asset FA223030043 4.3 -2.0 0.5 0.0 0.5 -1.3 2.5 -10.0 -0.5 5
State and local government employee retirement funds; money market fund shares; asset FA223034005 1.9 0.3 -4.7 8.1 -7.6 30.9 -50.2 25.3 -0.2 6
State and local government employee defined benefit retirement funds; security repurchase agreements; asset FA222051043 3.2 1.1 22.6 42.2 23.1 -33.7 58.9 -41.2 2.0 7
State and local government employee defined benefit retirement funds retirement funds; debt securities; asset FA224022045 -152.2 74.6 186.9 250.4 275.7 47.2 174.3 76.7 162.7 8
State and local government employee defined benefit retirement funds; commercial paper; asset FA223069143 -4.8 -3.8 6.0 26.9 11.2 2.4 -16.5 34.8 9.0 9
State and local government employee defined benefit retirement funds; Treasury securities; asset FA223061143 -36.6 1.0 103.0 69.5 187.1 52.5 103.0 -99.1 69.0 10
State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset FA223061743 20.6 24.2 6.3 21.3 -6.5 41.8 -31.5 39.6 12.3 11
State and local government employee defined benefit retirement funds; municipal securities; asset FA223062043 -1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12
State and local government employee defined benefit retirement funds; corporate and foreign bonds; asset FA223063045 -130.4 53.2 71.6 132.7 83.9 -49.5 119.4 101.4 72.3 13
State and local government employee defined benefit retirement funds; total mortgages; asset FA223065043 -1.5 -0.9 1.1 2.0 -0.7 -0.1 3.2 -5.4 -0.9 14
State and local government employee defined benefit retirement funds; corporate equities; asset FA223064145 76.0 -27.6 -124.4 -163.3 -160.9 -299.4 125.9 91.4 -80.2 15
State and local government employee retirement funds; mutual fund shares; asset FA223064205 -3.3 8.8 -161.6 -81.8 -43.5 42.9 -563.8 61.6 -157.6 16
State and local government employee retirement funds; miscellaneous assets FA223090005 297.1 182.3 331.4 201.3 157.5 430.3 536.3 46.3 301.6 17
State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) FA223095505 6.6 7.7 9.2 4.1 12.7 5.2 14.9 16.5 6.0 18
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) FA223073045 202.9 253.5 250.0 250.0 250.0 250.0 250.0 250.0 250.0 19
State and local government employee retirement funds; miscellaneous assets FA223093005 87.7 -79.0 72.2 -52.8 -105.1 175.1 271.4 -220.1 45.7 20
State and local government employee retirement funds; pension entitlements (total liabilities) FA224190005 229.6 242.4 250.9 246.1 248.2 246.3 263.1 246.3 230.0 21
State and local government employee defined benefit retirement funds; total financial assets (4) FA224090045 232.0 235.5 236.4 236.4 236.4 236.4 236.4 236.4 236.4 22
State and local government employee defined contribution retirement funds; total financial assets (5) FA224090055 -2.3 7.0 14.6 9.9 11.9 10.0 26.8 10.0 -6.2 23

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.
  4. Additional detail on defined benefit plans is available on table F.120.b.
  5. Additional detail on defined contribution plans is available on table F.120.c.
Last Update: September 9, 2022