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 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private pension funds; total financial assets (2) | FL574090005 | 11162.4 | 12581.6 | 13723.8 | 13132.6 | 13277.3 | 13748.3 | 13723.8 | 13462.9 | 14216.6 | 1 |
| Private pension funds; checkable deposits and currency; asset | FL573020005 | 22.1 | 17.8 | 13.9 | 16.8 | 15.9 | 15.0 | 13.9 | 12.9 | 12.0 | 2 |
| Private pension funds; total time and savings deposits; asset | FL573030005 | 14.5 | 14.5 | 13.8 | 14.3 | 14.1 | 14.0 | 13.8 | 13.6 | 13.5 | 3 |
| Private pension funds; money market fund shares; asset | FL573034005 | 200.5 | 203.2 | 202.0 | 202.8 | 202.6 | 202.3 | 202.0 | 202.4 | 202.3 | 4 |
| Private pension funds; security repurchase agreements; asset | FL572051005 | 14.4 | 14.3 | 13.2 | 14.0 | 13.8 | 13.5 | 13.2 | 12.9 | 12.6 | 5 |
| Private pension funds; debt securities; asset | LM574022005 | 1487.4 | 1634.1 | 1675.2 | 1632.0 | 1636.2 | 1720.6 | 1675.2 | 1718.9 | 1741.8 | 6 |
| Private pension funds; total commercial paper; asset | FL573069105 | 34.9 | 34.9 | 33.2 | 34.5 | 34.1 | 33.6 | 33.2 | 32.8 | 32.4 | 7 |
| Private pension funds; Treasury securities; asset | LM573061105 | 427.7 | 484.8 | 511.6 | 486.3 | 492.9 | 523.1 | 511.6 | 533.0 | 542.3 | 8 |
| Private pension funds; agency- and GSE-backed securities; asset | LM573061705 | 219.5 | 247.8 | 262.7 | 249.7 | 253.3 | 264.2 | 262.7 | 269.6 | 274.0 | 9 |
| Private pension funds; corporate and foreign bonds; asset | LM573063005 | 805.4 | 866.6 | 867.7 | 861.5 | 855.9 | 899.7 | 867.7 | 883.4 | 893.2 | 10 |
| Private pension funds; total mortgages; asset | FL573065005 | 18.7 | 25.4 | 28.6 | 26.2 | 27.0 | 27.8 | 28.6 | 29.3 | 30.2 | 11 |
| Private pension funds, including 403(b) plans; corporate equities; asset | LM573064105 | 3177.5 | 3689.1 | 4382.5 | 4015.5 | 4102.1 | 4310.8 | 4382.5 | 4126.4 | 4536.4 | 12 |
| Private pension funds; mutual fund shares; asset | LM573064205 | 4355.8 | 5088.3 | 5638.1 | 5397.4 | 5456.7 | 5729.5 | 5638.1 | 5515.0 | 5941.9 | 13 |
| Private pension funds; total miscellaneous assets | FL573090005 | 1871.5 | 1894.9 | 1756.6 | 1813.5 | 1808.8 | 1714.8 | 1756.6 | 1831.5 | 1725.9 | 14 |
| Private pension funds; unallocated insurance contracts; asset (3) | FL573095005 | 603.0 | 602.3 | 615.0 | 611.2 | 611.2 | 619.8 | 615.0 | 608.2 | 620.4 | 15 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 73.2 | 77.3 | 81.0 | 78.2 | 79.1 | 80.0 | 81.0 | 82.1 | 82.9 | 16 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset (4) | FL573073005 | 335.8 | 285.2 | 177.1 | 206.2 | 213.0 | 121.1 | 177.1 | 267.5 | 162.1 | 17 |
| Private pension funds; unidentified miscellaneous assets | FL573093005 | 859.4 | 930.1 | 883.5 | 917.9 | 905.5 | 894.0 | 883.5 | 873.8 | 860.5 | 18 |
| Private pension funds; total liabilities (5) | FL574190005 | 11201.8 | 12621.6 | 13765.1 | 13172.9 | 13317.8 | 13789.0 | 13765.1 | 13504.6 | 14258.7 | 19 |
| Private defined benefit pension funds; pension entitlements (total liabilities) | FL574190043 | 3224.8 | 3269.3 | 3213.3 | 3255.3 | 3241.3 | 3227.3 | 3213.3 | 3199.3 | 3185.3 | 20 |
| Private defined benefit pension funds; total funded assets (6) | FL572000075 | 2889.0 | 2984.1 | 3036.2 | 3049.1 | 3028.3 | 3106.3 | 3036.2 | 2931.8 | 3023.3 | 21 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset | FL573073005 | 335.8 | 285.2 | 177.1 | 206.2 | 213.0 | 121.1 | 177.1 | 267.5 | 162.1 | 22 |
| Private defined benefit pension funds; total financial assets (7) | FL574090045 | 3185.5 | 3229.3 | 3172.1 | 3215.1 | 3200.8 | 3186.5 | 3172.1 | 3157.6 | 3143.2 | 23 |
| Private defined contribution pension funds; total financial assets (8) | FL574090055 | 7977.0 | 9352.3 | 10551.8 | 9917.6 | 10076.5 | 10561.7 | 10551.8 | 10305.3 | 11073.3 | 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: September 11, 2025