Financial Accounts of the United States - Z.1
F.117 Private and Public Pension Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; gross saving less net capital transfers paid | FA596000105 | 1.2 | 9.9 | 49.0 | 3.3 | 3.2 | 3.3 | 3.3 | 3.4 | 3.4 | 1 |
| Pension funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA595013005 | 4.6 | 9.2 | 9.6 | 10.1 | 10.0 | 10.1 | 10.2 | 10.2 | 10.3 | 2 |
| Pension funds; total financial assets (2) | FA594090005 | 248.8 | 288.3 | 379.6 | 273.1 | 268.2 | 271.3 | 267.4 | 285.5 | 259.2 | 3 |
| Pension funds; checkable deposits and currency; asset | FA593020005 | 4.4 | -5.1 | -2.8 | 22.7 | 41.6 | 21.3 | 22.3 | 5.6 | 22.7 | 4 |
| Pension funds; total time and savings deposits; asset | FA593030005 | 0.6 | 1.2 | -5.6 | -3.7 | -2.6 | -0.2 | -10.0 | -1.9 | -1.7 | 5 |
| Pension funds; money market fund shares; asset | FA593034005 | 10.1 | -15.8 | -8.9 | 2.0 | 31.8 | -8.2 | -14.0 | -1.7 | 4.1 | 6 |
| Pension funds; security repurchase agreements; asset | FA592051005 | 20.0 | 16.1 | 7.6 | 34.5 | 15.9 | 40.5 | 21.4 | 60.2 | 63.5 | 7 |
| Pension funds; debt securities; asset | FA594022005 | 337.1 | -34.1 | 19.4 | 215.8 | 204.2 | 319.6 | 199.7 | 139.7 | 174.5 | 8 |
| Pension funds; commercial paper; asset | FA593069105 | 12.9 | -16.1 | -3.1 | -2.9 | 6.8 | -3.6 | -16.6 | 1.6 | -3.6 | 9 |
| Pension funds; Treasury securities; asset | FA593061105 | 148.9 | -40.9 | 74.9 | 115.9 | 108.1 | 153.6 | 129.1 | 72.8 | 19.8 | 10 |
| Pension funds; agency- and GSE-backed securities; asset | FA593061705 | 39.5 | -31.4 | -8.9 | 19.2 | 26.6 | 20.4 | 12.6 | 17.2 | 31.7 | 11 |
| Pension funds; municipal securities; asset | FA593062045 | -0.0 | -0.0 | -0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 12 |
| Pension funds; corporate and foreign bonds; asset | FA593063005 | 136.0 | 54.4 | -43.5 | 83.6 | 62.7 | 149.2 | 74.5 | 48.0 | 126.5 | 13 |
| Pension funds; loans; asset | FA594023005 | 162.0 | 238.6 | 249.0 | 237.9 | 156.1 | 235.4 | 51.6 | 508.5 | 141.9 | 14 |
| Federal government retirement funds; other loans and advances; asset (3) | FA343069005 | 161.1 | 245.6 | 254.1 | 241.7 | 162.0 | 238.7 | 56.1 | 509.9 | 146.0 | 15 |
| Pension funds; total mortgages; asset | FA593065005 | 0.8 | -7.0 | -5.2 | -3.8 | -5.9 | -3.2 | -4.4 | -1.5 | -4.1 | 16 |
| Pension funds; corporate equities; asset | FA593064105 | -414.6 | 11.8 | -73.0 | -186.7 | -69.6 | -271.5 | -271.0 | -134.5 | -301.6 | 17 |
| Pension funds; mutual fund shares; asset | FA593064205 | -245.9 | -121.9 | 13.3 | -142.9 | -207.0 | -110.0 | -175.6 | -79.1 | -140.7 | 18 |
| Pension funds; total miscellaneous assets | FA593090005 | 375.0 | 197.5 | 180.5 | 93.5 | 97.8 | 44.4 | 443.0 | -211.2 | 296.6 | 19 |
| Pension funds; unallocated insurance contracts; asset (4) | FA593095005 | 7.7 | 18.9 | 12.4 | 24.3 | 24.2 | 25.6 | 23.7 | 23.6 | 19.4 | 20 |
| Private pension funds; pension fund contributions receivable; asset | FA573074005 | -6.5 | 2.4 | 0.0 | 1.1 | 1.7 | 1.9 | 0.6 | 0.1 | 0.8 | 21 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FA593073005 | 271.1 | 248.4 | 205.6 | 168.5 | 186.7 | 123.8 | 430.3 | -66.8 | 381.2 | 22 |
| Pension funds; unidentified miscellaneous assets | FA593093005 | 102.8 | -72.2 | -37.5 | -100.3 | -114.8 | -106.9 | -11.6 | -168.1 | -104.8 | 23 |
| Pension funds; total liabilities | FA594190005 | 252.2 | 287.6 | 340.2 | 279.9 | 275.0 | 278.1 | 274.3 | 292.4 | 266.2 | 24 |
| Households and nonprofit organizations; retirement assets (6) | FA153050015 | 769.4 | 1054.8 | 841.4 | 914.5 | 536.9 | 1206.4 | 752.9 | 1161.7 | ND | 25 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FA594190045 | 241.4 | 248.6 | 232.5 | 226.3 | 225.2 | 226.1 | 226.8 | 227.4 | 225.5 | 26 |
| Defined contribution pension funds; total financial assets | FA594090055 | 10.8 | 39.0 | 107.7 | 53.6 | 49.9 | 52.1 | 47.5 | 65.0 | 40.6 | 27 |
| All sectors; IRAs; liability (7) | FA893131573 | 572.4 | 637.6 | 455.2 | 526.3 | 160.9 | 792.7 | 459.7 | 691.9 | ND | 28 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (8) | FA543150015 | -55.2 | 129.6 | 46.1 | 108.2 | 100.9 | 135.5 | 18.9 | 177.5 | ND | 29 |
NOTES
- Sum of private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Nonmarketable Treasury securities classified as loans and suspended reinvestments in the Thrift Savings Plan G Fund.
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
- Unfunded defined benefit pension entitlements.
- Households' retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.
- IRA assets are not included above. See memo item on table F.229 for a sectoral distribution of IRA accounts.
- Annuities held in IRAs are excluded. They are included in line 28.
Last Update: June 12, 2025