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 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pension funds; gross saving less net capital transfers paid | FA596000105 | 9.9 | 49.0 | 3.8 | 3.8 | 3.8 | 3.9 | 3.9 | 4.0 | 4.1 | 1 |
| Pension funds; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA595013005 | 9.2 | 9.8 | 10.1 | 10.2 | 10.2 | 10.1 | 10.2 | 10.2 | 10.3 | 2 |
| Pension funds; total financial assets (2) | FA594090005 | 291.9 | 508.6 | 307.0 | 319.3 | 301.3 | 298.3 | 240.7 | 274.2 | 255.9 | 3 |
| Pension funds; checkable deposits and currency; asset | FA593020005 | -5.2 | -6.2 | 22.2 | 18.9 | 16.3 | 13.9 | -43.0 | -40.0 | 0.2 | 4 |
| Pension funds; total time and savings deposits; asset | FA593030005 | 1.2 | -4.1 | -3.0 | 0.0 | -8.8 | -0.7 | -0.7 | -0.7 | 0.1 | 5 |
| Pension funds; money market fund shares; asset | FA593034005 | -15.9 | -1.8 | 13.6 | -2.9 | 2.1 | 16.8 | 8.1 | 51.0 | 24.0 | 6 |
| Pension funds; security repurchase agreements; asset | FA592051005 | 16.0 | 11.0 | 50.0 | 40.4 | 17.1 | 125.7 | -4.4 | 14.2 | -16.7 | 7 |
| Pension funds; debt securities; asset | FA594022005 | -37.4 | 122.2 | 231.6 | 334.7 | 210.7 | 137.0 | 129.1 | -4.7 | 105.7 | 8 |
| Pension funds; commercial paper; asset | FA593069105 | -16.2 | 0.6 | -0.9 | -3.2 | -14.4 | 6.5 | -4.8 | 1.6 | -1.2 | 9 |
| Pension funds; Treasury securities; asset | FA593061105 | -42.0 | 121.6 | 117.8 | 180.8 | 126.0 | 30.1 | 71.4 | 105.9 | 57.6 | 10 |
| Pension funds; agency- and GSE-backed securities; asset | FA593061705 | -32.0 | 15.4 | 33.9 | 11.5 | 59.6 | 25.2 | 16.4 | 64.8 | 2.4 | 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 | -15.4 | 80.8 | 145.5 | 39.5 | 75.2 | 46.1 | -177.1 | 46.8 | 13 |
| Pension funds; loans; asset | FA594023005 | 238.5 | 259.1 | 245.2 | 146.5 | 275.8 | 477.3 | 65.4 | -442.3 | 977.2 | 14 |
| Federal government retirement funds; other loans and advances; asset (3) | FA343069005 | 245.6 | 254.1 | 241.7 | 142.8 | 272.4 | 471.3 | 62.7 | -446.9 | 975.1 | 15 |
| Pension funds; total mortgages; asset | FA593065005 | -7.1 | 5.0 | 3.5 | 3.7 | 3.4 | 6.0 | 2.7 | 4.6 | 2.1 | 16 |
| Pension funds; corporate equities; asset | FA593064105 | 31.6 | -312.4 | -249.9 | -382.5 | -224.5 | -191.6 | -206.5 | -241.6 | 1032.2 | 17 |
| Pension funds; mutual fund shares; asset | FA593064205 | -121.7 | 76.0 | -183.5 | -98.0 | -227.6 | -190.1 | -245.4 | -336.1 | -1278.2 | 18 |
| Pension funds; total miscellaneous assets | FA593090005 | 184.6 | 364.8 | 180.9 | 262.3 | 240.1 | -90.0 | 538.2 | 1274.4 | -588.7 | 19 |
| Pension funds; unallocated insurance contracts; asset (4) | FA593095005 | 18.7 | -26.2 | 2.0 | 2.9 | 1.3 | 2.4 | 1.6 | -1.9 | -1.0 | 20 |
| Private pension funds; pension fund contributions receivable; asset | FA573074005 | 2.4 | 4.1 | 3.8 | 3.5 | 4.0 | 4.0 | 4.1 | 3.6 | 5.6 | 21 |
| Pension funds; claims of pension fund on sponsor; asset (5) | FA593073005 | 236.4 | 292.9 | 244.0 | 339.6 | 231.6 | 8.0 | 536.2 | 947.4 | -493.0 | 22 |
| Pension funds; unidentified miscellaneous assets | FA593093005 | -72.8 | 94.0 | -69.0 | -83.7 | 3.3 | -104.3 | -3.6 | 325.4 | -100.3 | 23 |
| Pension funds; total liabilities | FA594190005 | 291.2 | 469.4 | 313.4 | 325.7 | 307.7 | 304.5 | 247.0 | 280.5 | 262.1 | 24 |
| Households and nonprofit organizations; retirement assets (6) | FA153050015 | 1054.3 | 988.6 | 930.8 | 1232.6 | 805.3 | 1125.0 | 445.9 | 546.1 | ND | 25 |
| Defined benefit pension funds; pension entitlements (total liabilities) | FA594190045 | 252.0 | 244.9 | 242.6 | 242.6 | 242.7 | 242.6 | 240.8 | 240.8 | 242.0 | 26 |
| Defined contribution pension funds; total financial assets | FA594090055 | 39.2 | 224.5 | 70.8 | 83.1 | 65.0 | 61.9 | 6.2 | 39.7 | 20.1 | 27 |
| All sectors; IRAs; liability (7) | FA893131573 | 638.9 | 454.4 | 531.7 | 792.3 | 483.8 | 690.3 | 150.5 | 257.8 | ND | 28 |
| Life insurance companies; pension entitlements, excluding unallocated insurance contracts and IRAs; liability (8) | FA543150015 | 124.2 | 64.7 | 85.7 | 114.6 | 13.8 | 130.2 | 48.4 | 7.8 | 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: January 9, 2026