Financial Accounts of the United States - Z.1
F.119.b Federal government employee defined benefit pension funds1
Billions of dollars
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net acquisition of financial assets2 | FA344090045 | 67.3 | 74.5 | 76.5 | 75.7 | 78.1 | 76.2 | 76.2 | 77.5 | 75.9 |
| Line 2 | Checkable deposits and currency | FA343020033 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| Line 3 | Debt securities | FA344022045 | 0.5 | 0.5 | -0.2 | 4.8 | 0.3 | -0.9 | -0.6 | 0.3 | 0.4 |
| Line 4 | Treasury securities | FA343061165 | 0.6 | -0.2 | -0.4 | 2.8 | 0.1 | -0.3 | -1.4 | 0.1 | 0.1 |
| Line 5 | Agency- and GSE-backed securities | FA343061733 | 0.1 | 0.2 | 0.0 | 0.8 | -0.0 | -0.1 | 0.2 | 0.1 | 0.0 |
| Line 6 | Municipal securities | FA343062033 | -0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 7 | Corporate and foreign bonds | FA343063033 | -0.2 | 0.5 | 0.1 | 1.1 | 0.3 | -0.6 | 0.7 | 0.1 | 0.3 |
| Line 8 | Loans (other loans and advances)3 | FA343069245 | 251.8 | 241.7 | 340.5 | 248.2 | 491.7 | -34.9 | -457.1 | 977.5 | 876.6 |
| Line 9 | Corporate equities | FA343064135 | -1.1 | -3.2 | -1.9 | -6.5 | -1.7 | -1.3 | -2.4 | -2.3 | -1.6 |
| Line 10 | Claims of pension fund on sponsor (misc. assets)4 | FA343073045 | -184.2 | -164.8 | -262.3 | -171.0 | -412.6 | 113.0 | 536.1 | -898.3 | -799.9 |
| Line 11 | Net increase in pension entitlements (liabilities) | FA344190045 | 67.3 | 74.5 | 76.5 | 75.7 | 78.1 | 76.2 | 76.2 | 77.5 | 75.9 |
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: 2026-03-19