Financial Accounts of the United States - Z.1
F.120.c State and local government employee defined contribution pension funds1
Billions of dollars; quarterly figures are seasonally adjusted annual rates
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net acquisition of financial assets | FA224090055 | 1.8 | 11.9 | 7.2 | 8.0 | 9.9 | 3.4 | 10.5 | 7.8 | 7.1 |
| Line 2 | Money market fund shares | FA223034055 | 1.0 | 0.0 | 1.2 | 0.0 | 0.0 | 0.1 | 0.0 | 4.0 | 0.6 |
| Line 3 | Mutual fund shares | FA223064255 | -1.2 | -0.2 | -4.8 | -3.7 | -2.9 | -8.9 | 4.0 | -9.7 | -4.3 |
| Line 4 | Miscellaneous assets | FA223090055 | 2.0 | 12.1 | 10.8 | 11.7 | 12.8 | 12.3 | 6.5 | 13.5 | 10.7 |
| Line 5 | Unallocated insurance contracts (misc. assets)2 | FA223095505 | 1.9 | 12.0 | 10.7 | 11.7 | 12.8 | 12.3 | 6.5 | 13.5 | 10.7 |
| Line 6 | Other | FA223093053 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 7 | Net increase in pension entitlements (liabilities) | FA224090055 | 1.8 | 11.9 | 7.2 | 8.0 | 9.9 | 3.4 | 10.5 | 7.8 | 7.1 |
Notes:
- Includes 403(b) and 457 type plans.
- Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
Last Update: 2026-03-19