Financial Accounts of the United States - Z.1
L.118.b Private Pension Funds Defined Benefit Plans
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 defined benefit pension funds; total financial assets (1) | FL574090045 | 3675.5 | 3185.5 | 3229.3 | 3172.1 | 3215.1 | 3200.8 | 3186.5 | 3172.1 | 3157.6 | 1 |
| Private defined benefit pension funds; checkable deposits and currency; asset | FL573020043 | 11.7 | 12.8 | 13.3 | 13.8 | 13.3 | 13.4 | 13.6 | 13.8 | 13.9 | 2 |
| Private defined benefit pension funds; total time and savings deposits; asset | FL573030043 | 12.1 | 9.3 | 7.9 | 6.4 | 7.6 | 7.4 | 6.9 | 6.4 | 6.0 | 3 |
| Private defined benefit pension funds; money market fund shares; asset | FL573034043 | 49.5 | 38.2 | 32.2 | 26.2 | 31.3 | 30.3 | 28.2 | 26.2 | 24.4 | 4 |
| Private defined benefit pension funds; security repurchase agreements; asset | FL572051043 | 18.7 | 14.4 | 12.2 | 9.9 | 11.8 | 11.4 | 10.6 | 9.9 | 9.2 | 5 |
| Private defined benefit pension funds; debt securities; asset | LM574022045 | 1238.9 | 945.4 | 946.3 | 903.4 | 932.0 | 920.5 | 949.2 | 903.4 | 907.9 | 6 |
| Private defined benefit pension funds; commercial paper; asset | FL573069143 | 29.7 | 22.9 | 19.3 | 15.7 | 18.8 | 18.2 | 16.9 | 15.7 | 14.6 | 7 |
| Private defined benefit pension funds; Treasury securities; asset | LM573061143 | 291.3 | 226.7 | 225.3 | 216.5 | 221.3 | 219.7 | 227.3 | 216.5 | 220.1 | 8 |
| Private defined benefit pension funds; agency- and GSE-backed securities; asset | LM573061743 | 143.4 | 111.8 | 107.2 | 100.8 | 105.5 | 104.5 | 105.2 | 100.8 | 100.0 | 9 |
| Private defined benefit pension funds; corporate and foreign bonds; asset | LM573063043 | 774.5 | 584.0 | 594.5 | 570.4 | 586.5 | 578.2 | 599.8 | 570.4 | 573.3 | 10 |
| Private defined benefit pension funds; total mortgages; asset | FL573065043 | 15.6 | 12.5 | 10.9 | 9.4 | 10.7 | 10.4 | 9.9 | 9.4 | 8.9 | 11 |
| Private defined benefit pension funds; corporate equities; asset | LM573064143 | 1403.4 | 1085.4 | 1285.1 | 1511.9 | 1400.4 | 1431.6 | 1495.3 | 1511.9 | 1417.0 | 12 |
| Private defined benefit pension funds; mutual fund shares; asset | LM573064243 | 414.9 | 315.6 | 341.2 | 360.0 | 359.2 | 360.1 | 372.0 | 360.0 | 347.7 | 13 |
| Private defined benefit pension funds; total miscellaneous assets | FL573090045 | 510.6 | 751.8 | 580.2 | 331.1 | 448.8 | 415.7 | 300.8 | 331.1 | 422.7 | 14 |
| Private defined benefit pension funds; unallocated insurance contracts; asset (2) | FL573095405 | 63.0 | 55.0 | 58.0 | 60.2 | 59.7 | 59.8 | 61.3 | 60.2 | 59.2 | 15 |
| Private defined benefit pension funds; pension fund contributions receivable; asset | FL573074043 | 27.9 | 27.4 | 25.3 | 23.3 | 25.0 | 24.7 | 24.0 | 23.3 | 22.7 | 16 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset (3) | FL573073005 | 53.4 | 335.8 | 180.5 | -51.4 | 50.4 | 20.3 | -89.4 | -51.4 | 46.9 | 17 |
| Private defined benefit pension funds; unidentified miscellaneous assets | FL573093043 | 366.2 | 333.7 | 316.4 | 299.1 | 313.7 | 310.9 | 304.9 | 299.1 | 294.0 | 18 |
| Private defined benefit pension funds; pension entitlements (total liabilities) (4) | FL574190043 | 3714.0 | 3224.8 | 3269.3 | 3213.3 | 3255.3 | 3241.3 | 3227.3 | 3213.3 | 3199.3 | 19 |
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; series begins 1985:Q4.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued defined benefit pension entitlements.
Last Update: June 12, 2025