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 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private pension funds; total financial assets (2) | FL574090005 | 11161.3 | 12590.3 | 13738.7 | 13289.1 | 13761.6 | 13738.7 | 13466.7 | 14210.8 | 14771.9 | 1 |
| Private pension funds; checkable deposits and currency; asset | FL573020005 | 22.1 | 17.8 | 14.1 | 15.9 | 15.0 | 14.1 | 13.2 | 12.4 | 11.4 | 2 |
| Private pension funds; total time and savings deposits; asset | FL573030005 | 14.5 | 14.5 | 13.8 | 14.1 | 14.0 | 13.8 | 13.6 | 13.5 | 13.3 | 3 |
| Private pension funds; money market fund shares; asset | FL573034005 | 200.5 | 203.2 | 210.4 | 205.2 | 208.0 | 210.4 | 214.5 | 220.8 | 227.1 | 4 |
| Private pension funds; security repurchase agreements; asset | FL572051005 | 14.4 | 14.3 | 13.2 | 13.8 | 13.5 | 13.2 | 12.9 | 12.6 | 12.4 | 5 |
| Private pension funds; debt securities; asset | LM574022005 | 1487.4 | 1634.1 | 1696.2 | 1642.8 | 1736.0 | 1696.2 | 1748.6 | 1787.7 | 1836.6 | 6 |
| Private pension funds; total commercial paper; asset | FL573069105 | 34.9 | 34.9 | 33.2 | 34.1 | 33.7 | 33.2 | 32.8 | 32.4 | 32.0 | 7 |
| Private pension funds; Treasury securities; asset | LM573061105 | 427.7 | 484.8 | 523.5 | 496.6 | 531.6 | 523.5 | 550.1 | 568.5 | 590.4 | 8 |
| Private pension funds; agency- and GSE-backed securities; asset | LM573061705 | 219.5 | 247.8 | 262.8 | 253.4 | 264.4 | 262.8 | 269.7 | 274.1 | 278.8 | 9 |
| Private pension funds; corporate and foreign bonds; asset | LM573063005 | 805.4 | 866.6 | 876.7 | 858.8 | 906.3 | 876.7 | 896.0 | 912.8 | 935.5 | 10 |
| Private pension funds; total mortgages; asset | FL573065005 | 18.7 | 25.4 | 28.5 | 27.0 | 27.7 | 28.5 | 29.3 | 30.1 | 30.8 | 11 |
| Private pension funds, including 403(b) plans; corporate equities; asset | LM573064105 | 3177.5 | 3689.1 | 4448.8 | 4121.6 | 4355.7 | 4448.8 | 4211.1 | 4678.5 | 5290.5 | 12 |
| Private pension funds; mutual fund shares; asset | LM573064205 | 4355.8 | 5088.3 | 5537.9 | 5426.6 | 5659.9 | 5537.9 | 5376.1 | 5714.2 | 5697.0 | 13 |
| Private pension funds; total miscellaneous assets | FL573090005 | 1870.4 | 1903.6 | 1775.7 | 1822.1 | 1731.8 | 1775.7 | 1847.4 | 1741.0 | 1652.9 | 14 |
| Private pension funds; unallocated insurance contracts; asset (3) | FL573095005 | 603.0 | 602.3 | 614.6 | 610.9 | 619.4 | 614.6 | 608.1 | 620.4 | 628.5 | 15 |
| Private pension funds; pension fund contributions receivable; asset | FL573074005 | 73.2 | 77.3 | 81.1 | 79.1 | 80.1 | 81.1 | 82.1 | 83.0 | 84.4 | 16 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset (4) | FL573073005 | 334.7 | 293.9 | 192.0 | 224.8 | 134.4 | 192.0 | 278.1 | 168.3 | 82.3 | 17 |
| Private pension funds; unidentified miscellaneous assets | FL573093005 | 859.4 | 930.1 | 888.0 | 907.3 | 897.9 | 888.0 | 879.1 | 869.3 | 857.7 | 18 |
| Private pension funds; total liabilities (5) | FL574190005 | 11200.7 | 12630.4 | 13779.8 | 13329.6 | 13802.3 | 13779.8 | 13508.1 | 14252.6 | 14814.2 | 19 |
| Private defined benefit pension funds; pension entitlements (total liabilities) | FL574190043 | 3223.8 | 3278.1 | 3228.0 | 3253.1 | 3240.5 | 3228.0 | 3209.6 | 3191.3 | 3172.9 | 20 |
| Private defined benefit pension funds; total funded assets (6) | FL572000075 | 2889.1 | 2984.2 | 3036.0 | 3028.2 | 3106.1 | 3036.0 | 2931.6 | 3023.0 | 3090.6 | 21 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset | FL573073005 | 334.7 | 293.9 | 192.0 | 224.8 | 134.4 | 192.0 | 278.1 | 168.3 | 82.3 | 22 |
| Private defined benefit pension funds; total financial assets (7) | FL574090045 | 3184.4 | 3238.0 | 3187.0 | 3212.6 | 3199.9 | 3187.0 | 3168.2 | 3149.5 | 3130.6 | 23 |
| Private defined contribution pension funds; total financial assets (8) | FL574090055 | 7977.0 | 9352.3 | 10551.8 | 10076.5 | 10561.7 | 10551.8 | 10298.5 | 11061.4 | 11641.3 | 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: January 9, 2026