Financial Accounts of the United States - Z.1
F.119.b Federal Government Employee Retirement Funds Defined Benefit Plans (1)
Billions of dollars| Description | Series code | 2022 | 2023 | 2024 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Federal government defined benefit retirement funds; total financial assets (2) | FA344090045 | 75.1 | 67.3 | 74.5 | 73.3 | 75.7 | 78.1 | 76.2 | 76.2 | 77.5 | 1 |
| Federal government retirement funds; checkable deposits and currency held by National Railroad Retirement Investment Trust; asset | FA343020033 | -0.6 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 2 |
| Federal government defined benefit retirement funds; debt securities; asset | FA344022045 | -1.2 | 0.5 | 0.5 | -3.7 | 4.8 | 0.3 | -0.9 | -0.6 | 0.3 | 3 |
| Federal government defined benefit retirement funds; Treasury securities; asset | FA343061165 | -1.5 | 0.6 | -0.2 | -3.9 | 2.8 | 0.1 | -0.3 | -1.4 | 0.1 | 4 |
| Federal government retirement funds; agency- and GSE-backed securities held by National Railroad Retirement Investment Trust; asset | FA343061733 | -0.0 | 0.1 | 0.2 | -0.0 | 0.8 | -0.0 | -0.1 | 0.2 | 0.1 | 5 |
| Federal government retirement funds; municipal securities held by National Railroad Retirement Investment Trust; asset | FA343062033 | -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 | FA343063033 | 0.3 | -0.2 | 0.5 | 0.2 | 1.1 | 0.3 | -0.6 | 0.7 | 0.1 | 7 |
| Federal government defined benefit retirement funds; nonmarketable Treasury securities; asset (3) | FA343069245 | 238.7 | 251.8 | 241.7 | 141.4 | 248.2 | 491.7 | -34.9 | -457.1 | 977.5 | 8 |
| Federal government retirement funds; corporate equities held by National Railroad Retirement Investment Trust; asset | FA343064135 | -1.5 | -1.1 | -3.2 | -1.6 | -6.5 | -1.7 | -1.3 | -2.4 | -2.3 | 9 |
| Federal government defined benefit retirement funds; claims of pension funds on sponsor; asset (4) | FA343073045 | -160.3 | -184.2 | -164.8 | -63.0 | -171.0 | -412.6 | 113.0 | 536.1 | -898.3 | 10 |
| Federal government defined benefit retirement funds; pension entitlements (total liabilities) | FA344190045 | 75.1 | 67.3 | 74.5 | 73.3 | 75.7 | 78.1 | 76.2 | 76.2 | 77.5 | 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.
Last Update: January 9, 2026