F.120 State and Local Government Employee Retirement Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Description Series code 2021 2022 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 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 0.7 1.3 1.2 1.2 1.3 1.3 1.3 1.3 1.4 1
State and local government employee retirement funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products FA225013005 2.4 2.7 2.6 2.6 2.7 2.8 2.9 2.9 2.9 2
State and local government employee retirement funds; total financial assets (1) FA224090005 224.5 284.2 297.8 272.9 283.2 283 298.1 300.4 288.4 3
State and local government employee defined benefit retirement funds; checkable deposits and currency; asset FA223020043 -0.1 -2.1 -3.7 1.5 -12.2 5.9 1 24.6 4.8 4
State and local government employee defined benefit retirement funds; total time and savings deposits; asset FA223030043 0.1 4 -8.9 6.3 -6.6 25.3 -13.5 -11.9 0.1 5
State and local government employee retirement funds; money market fund shares; asset FA223034005 2.4 -3.9 -7.7 -7.8 -7.4 7.5 5 -17.6 -3.8 6
State and local government employee defined benefit retirement funds; security repurchase agreements; asset FA222051043 19.6 20.7 -30.2 -0.5 50.9 62.6 44.8 -152.7 -30.6 7
State and local government employee defined benefit retirement funds retirement funds; debt securities; asset FA224022045 143.6 30.3 150.4 15 64.4 -108.7 177.2 43.9 64.1 8
State and local government employee defined benefit retirement funds; commercial paper; asset FA223069143 11.6 -9.2 11.2 -1.9 -27.1 -18.9 4.7 7 -8.6 9
State and local government employee defined benefit retirement funds; Treasury securities; asset FA223061143 76.2 -29.6 -26 -46.1 -72.8 26.3 118 112.2 45.9 10
State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset FA223061743 9 -14.4 25 -32.6 -38.3 -11.7 -116.2 49 -29.2 11
State and local government employee defined benefit retirement funds; municipal securities; asset FA223062043 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 46.8 83.5 140.2 95.7 202.5 -104.4 170.6 -124.2 56.1 13
State and local government employee defined benefit retirement funds; total mortgages; asset FA223065043 -0.3 -0.3 -0.5 -0.7 3 -3 4.1 -0.5 0.9 14
State and local government employee defined benefit retirement funds; corporate equities; asset FA223064145 -102.9 -98.6 -100.1 -212.5 -24.1 -57.5 -318.3 161.3 -144.4 15
State and local government employee retirement funds; mutual fund shares; asset FA223064205 -163.1 -12.2 13.4 -4.4 -4.5 -53.2 131.8 -106 -36.5 16
State and local government employee retirement funds; miscellaneous assets FA223090005 325.2 346.2 285 476 219.8 404.1 266.2 359.4 433.9 17
State and local government employee defined contribution retirement funds; unallocated insurance contracts; asset (2) FA223095505 14.4 11.7 16.9 8.4 9 12.5 11.8 6.7 6.6 18
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) FA223073045 252.8 242 242 242 242 242 242 242 242 19
State and local government employee retirement funds; miscellaneous assets FA223093005 58 92.5 26.1 225.6 -31.2 149.6 12.4 110.7 185.3 20
State and local government employee retirement funds; pension entitlements (total liabilities) FA224190005 226.2 285.6 299.2 274.3 284.7 284.5 299.6 302 290 21
State and local government employee defined benefit retirement funds; total financial assets (4) FA224090045 244.7 285.1 285.2 285.1 285.1 285.1 285 285 285 22
State and local government employee defined contribution retirement funds; total financial assets (5) FA224090055 -20.2 -0.9 12.6 -12.3 -1.9 -2.1 13.1 15.4 3.5 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: December 7, 2023