Financial Accounts of the United States - Z.1
L.119.b Federal Government Employee Retirement Funds Defined Benefit Plans (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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Federal government defined benefit retirement funds; total financial assets (2) | FL344090045 | 3785.4 | 3847.0 | 3910.5 | 3863.3 | 3879.0 | 3895.4 | 3910.5 | 3925.8 | 3942.4 | 1 |
| Federal government retirement funds; checkable deposits and currency held by National Railroad Retirement Investment Trust; asset | FL343020033 | 0.5 | 0.7 | 1.0 | 0.8 | 0.8 | 0.9 | 1.0 | 1.1 | 1.2 | 2 |
| Federal government defined benefit retirement funds; debt securities; asset | LM344022045 | 9.8 | 10.5 | 10.9 | 10.6 | 9.6 | 11.0 | 10.9 | 10.7 | 10.6 | 3 |
| Federal government defined benefit retirement funds; Treasury securities; asset | LM343061165 | 5.6 | 6.2 | 5.9 | 6.2 | 5.2 | 5.9 | 5.9 | 5.9 | 5.5 | 4 |
| Federal government retirement funds; agency- and GSE-backed securities held by National Railroad Retirement Investment Trust; asset | LM343061733 | 0.5 | 0.6 | 0.8 | 0.6 | 0.6 | 0.9 | 0.8 | 0.8 | 0.9 | 5 |
| Federal government retirement funds; municipal securities held by National Railroad Retirement Investment Trust; asset | LM343062033 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6 |
| Federal government retirement funds; corporate and foreign bonds held by National Railroad Retirement Investment Trust; asset | LM343063033 | 3.7 | 3.7 | 4.1 | 3.7 | 3.7 | 4.2 | 4.1 | 4.0 | 4.2 | 7 |
| Federal government defined benefit retirement funds; nonmarketable Treasury securities; asset (3) | FL343069245 | 2387.6 | 2639.4 | 2881.2 | 2632.0 | 2648.7 | 2693.6 | 2881.2 | 2842.4 | 2709.5 | 8 |
| Federal government retirement funds; corporate equities held by National Railroad Retirement Investment Trust; asset | LM343064135 | 15.8 | 17.4 | 16.7 | 17.8 | 17.8 | 17.1 | 16.7 | 16.3 | 17.1 | 9 |
| Federal government defined benefit retirement funds; claims of pension funds on sponsor; asset (4) | FL343073045 | 1371.8 | 1179.0 | 1000.8 | 1202.2 | 1202.0 | 1172.7 | 1000.8 | 1055.2 | 1204.0 | 10 |
| Federal government defined benefit retirement funds; pension entitlements (total liabilities) (5) | FL344190045 | 3785.4 | 3847.0 | 3910.5 | 3863.3 | 3879.0 | 3895.4 | 3910.5 | 3925.8 | 3942.4 | 11 |
NOTES
- Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and Disability Fund, and the National Railroad Investment Trust.
- Includes claims on sponsor (i.e., unfunded pension entitlements).
- Nonmarketable Treasury securities classified as loans.
- Unfunded defined benefit pension entitlements. Negative values indicate overfunding.
- Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.
Last Update: September 11, 2025