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 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; gross saving less net capital transfers paid | FA596000105 | 9.9 | 49.0 | 3.3 | 3.2 | 3.3 | 3.3 | 3.4 | 3.4 | 3.4 | 1 |
| Pension funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA595013005 | 9.2 | 9.6 | 10.1 | 10.0 | 10.1 | 10.2 | 10.2 | 10.3 | 10.3 | 2 |
| Pension funds; total financial assets (2) | FA594090005 | 288.4 | 497.4 | 292.1 | 291.9 | 303.1 | 285.1 | 288.3 | 247.7 | 269.0 | 3 |
| Pension funds; checkable deposits and currency; asset | FA593020005 | -5.2 | -6.6 | 21.5 | 39.0 | 18.2 | 17.7 | 11.1 | -40.4 | -5.6 | 4 |
| Pension funds; total time and savings deposits; asset | FA593030005 | 1.2 | -4.1 | -2.9 | -2.4 | -0.0 | -8.6 | -0.7 | -0.7 | 0.1 | 5 |
| Pension funds; money market fund shares; asset | FA593034005 | -15.9 | -2.1 | 5.0 | 32.6 | -7.8 | -9.8 | 5.0 | -6.0 | 1.6 | 6 |
| Pension funds; security repurchase agreements; asset | FA592051005 | 16.0 | 9.7 | 48.9 | 16.4 | 39.7 | 19.7 | 120.0 | -4.1 | -20.5 | 7 |
| Pension funds; debt securities; asset | FA594022005 | -37.4 | 104.5 | 213.6 | 226.8 | 341.1 | 203.8 | 82.6 | 100.1 | 1.6 | 8 |
| Pension funds; commercial paper; asset | FA593069105 | -16.2 | 0.4 | -0.9 | 7.4 | -3.2 | -13.8 | 5.9 | -4.7 | -0.8 | 9 |
| Pension funds; Treasury securities; asset | FA593061105 | -42.0 | 113.6 | 104.4 | 124.9 | 171.1 | 124.6 | -2.8 | 52.5 | 10.3 | 10 |
| Pension funds; agency- and GSE-backed securities; asset | FA593061705 | -32.0 | 16.5 | 39.4 | 38.3 | 35.4 | 45.5 | 38.5 | 19.2 | 4.6 | 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 | 52.8 | -25.9 | 70.7 | 56.2 | 137.9 | 47.5 | 41.0 | 33.1 | -12.5 | 13 |
| Pension funds; loans; asset | FA594023005 | 238.5 | 259.0 | 245.2 | 81.2 | 146.6 | 276.1 | 477.0 | 65.3 | -443.8 | 14 |
| Federal government retirement funds; other loans and advances; asset (3) | FA343069005 | 245.6 | 254.1 | 241.7 | 80.2 | 142.8 | 272.4 | 471.3 | 62.7 | -446.9 | 15 |
| Pension funds; total mortgages; asset | FA593065005 | -7.1 | 4.9 | 3.5 | 1.0 | 3.8 | 3.6 | 5.8 | 2.7 | 3.1 | 16 |
| Pension funds; corporate equities; asset | FA593064105 | 30.1 | -293.9 | -315.2 | -237.2 | -430.7 | -354.9 | -238.0 | -290.5 | -84.6 | 17 |
| Pension funds; mutual fund shares; asset | FA593064205 | -121.7 | 82.9 | -83.6 | -157.5 | -40.7 | -90.0 | -46.0 | -78.9 | -53.3 | 18 |
| Pension funds; total miscellaneous assets | FA593090005 | 182.7 | 348.1 | 159.5 | 293.1 | 236.7 | 231.0 | -122.8 | 502.9 | 873.6 | 19 |
| Pension funds; unallocated insurance contracts; asset (4) | FA593095005 | 18.6 | -25.1 | 2.7 | 2.5 | 3.8 | 2.4 | 2.2 | 1.0 | 3.3 | 20 |
| Private pension funds; pension fund contributions receivable; asset | FA573074005 | 2.4 | 4.1 | 3.7 | 3.5 | 3.4 | 3.7 | 4.1 | 4.2 | 3.3 | 21 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FA593073005 | 234.6 | 278.9 | 228.0 | 380.6 | 324.6 | 217.9 | -11.2 | 502.2 | 935.1 | 22 |
| Pension funds; unidentified miscellaneous assets | FA593093005 | -72.9 | 90.1 | -74.8 | -93.5 | -95.0 | 7.1 | -117.8 | -4.5 | -68.1 | 23 |
| Pension funds; total liabilities | FA594190005 | 287.8 | 458.0 | 298.9 | 298.7 | 310.0 | 291.9 | 295.2 | 254.6 | 276.0 | 24 |
| Households and nonprofit organizations; retirement assets (6) | FA153050015 | 1052.5 | 996.2 | 910.8 | 518.8 | 1216.1 | 792.9 | 1115.5 | 435.7 | ND | 25 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FA594190045 | 248.6 | 232.5 | 226.3 | 225.2 | 226.1 | 226.8 | 227.4 | 225.5 | 225.6 | 26 |
| Defined contribution pension funds; total financial assets | FA594090055 | 39.2 | 225.5 | 72.6 | 73.5 | 83.9 | 65.1 | 67.8 | 29.1 | 50.4 | 27 |
| All sectors; IRAs; liability (7) | FA893131573 | 637.5 | 455.1 | 532.2 | 160.9 | 792.7 | 484.4 | 690.6 | 150.3 | ND | 28 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (8) | FA543150015 | 127.2 | 83.0 | 79.7 | 59.3 | 113.4 | 16.6 | 129.8 | 30.8 | 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: September 11, 2025