Financial Accounts of the United States - Z.1
L.118 Private Pension Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private pension funds; total financial assets (2) | FL574090005 | 13164.7 | 11162.4 | 12461.2 | 13594.1 | 13009.0 | 13148.0 | 13614.7 | 13594.1 | 13331.8 | 1 |
| Private pension funds; checkable deposits and currency; asset | FL573020005 | 24.5 | 22.1 | 21.6 | 20.7 | 21.4 | 21.1 | 20.8 | 20.7 | 20.4 | 2 |
| Private pension funds; total time and savings deposits; asset | FL573030005 | 17.3 | 14.5 | 13.0 | 11.6 | 12.8 | 12.6 | 12.1 | 11.6 | 11.2 | 3 |
| Private pension funds; money market fund shares; asset | FL573034005 | 212.0 | 200.5 | 196.4 | 192.2 | 195.8 | 195.4 | 193.8 | 192.2 | 191.6 | 4 |
| Private pension funds; security repurchase agreements; asset | FL572051005 | 18.7 | 14.4 | 12.2 | 9.9 | 11.8 | 11.4 | 10.6 | 9.9 | 9.2 | 5 |
| Private pension funds; debt securities; asset | LM574022005 | 1821.0 | 1487.4 | 1547.0 | 1558.7 | 1541.1 | 1542.4 | 1613.9 | 1558.7 | 1590.2 | 6 |
| Private pension funds; total commercial paper; asset | FL573069105 | 41.7 | 34.9 | 31.4 | 27.9 | 30.8 | 30.3 | 29.1 | 27.9 | 26.8 | 7 |
| Private pension funds; Treasury securities; asset | LM573061105 | 507.8 | 427.7 | 445.5 | 455.7 | 443.7 | 447.2 | 471.0 | 455.7 | 470.8 | 8 |
| Private pension funds; agency- and GSE-backed securities; asset | LM573061705 | 259.2 | 219.5 | 222.0 | 223.0 | 221.2 | 222.3 | 228.3 | 223.0 | 225.6 | 9 |
| Private pension funds; corporate and foreign bonds; asset | LM573063005 | 1012.2 | 805.4 | 848.2 | 852.0 | 845.4 | 842.7 | 885.6 | 852.0 | 866.9 | 10 |
| Private pension funds; total mortgages; asset | FL573065005 | 25.5 | 18.7 | 15.3 | 11.0 | 14.4 | 13.4 | 12.1 | 11.0 | 9.8 | 11 |
| Private pension funds, including 403(b) plans; corporate equities; asset | LM573064105 | 3869.8 | 3177.5 | 3948.8 | 4866.4 | 4343.8 | 4484.6 | 4751.4 | 4866.4 | 4622.1 | 12 |
| Private pension funds; mutual fund shares; asset | LM573064205 | 5430.1 | 4355.8 | 5013.0 | 5503.4 | 5306.3 | 5347.9 | 5597.9 | 5503.4 | 5379.3 | 13 |
| Private pension funds; total miscellaneous assets | FL573090005 | 1745.8 | 1871.5 | 1693.8 | 1420.3 | 1561.7 | 1519.1 | 1402.0 | 1420.3 | 1497.9 | 14 |
| Private pension funds; unallocated insurance contracts; asset (3) | FL573095005 | 640.5 | 603.0 | 636.7 | 669.7 | 650.8 | 655.9 | 670.3 | 669.7 | 669.0 | 15 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 70.9 | 73.2 | 73.3 | 74.4 | 73.7 | 74.2 | 74.3 | 74.4 | 74.6 | 16 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset (4) | FL573073005 | 53.4 | 335.8 | 180.5 | -51.4 | 50.4 | 20.3 | -89.4 | -51.4 | 46.9 | 17 |
| Private pension funds; unidentified miscellaneous assets | FL573093005 | 981.0 | 859.4 | 803.4 | 727.7 | 786.8 | 768.7 | 746.7 | 727.7 | 707.4 | 18 |
| Private pension funds; total liabilities (5) | FL574190005 | 13203.1 | 11201.8 | 12501.3 | 13635.4 | 13049.2 | 13188.5 | 13655.5 | 13635.4 | 13373.5 | 19 |
| Private defined benefit pension funds; pension entitlements (total liabilities) | FL574190043 | 3714.0 | 3224.8 | 3269.3 | 3213.3 | 3255.3 | 3241.3 | 3227.3 | 3213.3 | 3199.3 | 20 |
| Private defined benefit pension funds; total funded assets (6) | FL572000075 | 3660.5 | 2889.0 | 3088.9 | 3264.8 | 3204.9 | 3221.0 | 3316.7 | 3264.8 | 3152.4 | 21 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset | FL573073005 | 53.4 | 335.8 | 180.5 | -51.4 | 50.4 | 20.3 | -89.4 | -51.4 | 46.9 | 22 |
| Private defined benefit pension funds; total financial assets (7) | FL574090045 | 3675.5 | 3185.5 | 3229.3 | 3172.1 | 3215.1 | 3200.8 | 3186.5 | 3172.1 | 3157.6 | 23 |
| Private defined contribution pension funds; total financial assets (8) | FL574090055 | 9489.2 | 7977.0 | 9231.9 | 10422.0 | 9793.9 | 9947.2 | 10428.1 | 10422.0 | 10174.1 | 24 |
NOTES
- Sum of private defined benefit plans and defined contribution plans (including 401(k) type plans).
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. 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 tables L.118.b.
- Additional detail on defined contribution plans is available on table L.118.c.
Last Update: June 12, 2025