Financial Accounts of the United States - Z.1
L.117 Private and public pension funds1
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total financial assets2 | FL594090005 | 26513.3 | 28169.3 | 29824.8 | 28095.6 | 28169.3 | 27947.9 | 28861.6 | 29568.5 | 29824.8 |
| Line 2 | Checkable deposits and currency | FL593020005 | 42.7 | 64.9 | 50.0 | 61.4 | 64.9 | 54.2 | 43.6 | 50.1 | 50.0 |
| Line 3 | Time and savings deposits | FL593030005 | 16.8 | 13.8 | 13.1 | 14.0 | 13.8 | 13.6 | 13.5 | 13.3 | 13.1 |
| Line 4 | Money market fund shares | FL593034005 | 220.9 | 234.5 | 267.8 | 230.3 | 234.5 | 236.5 | 248.5 | 260.8 | 267.8 |
| Line 5 | Security repurchase agreements | FL592051005 | 73.4 | 123.4 | 171.3 | 91.9 | 123.4 | 122.3 | 122.8 | 158.1 | 171.3 |
| Line 6 | Debt securities | LM594022005 | 2788.9 | 2993.9 | 3307.8 | 3068.4 | 2993.9 | 3077.7 | 3148.0 | 3266.7 | 3307.8 |
| Line 7 | Open market paper | FL593069105 | 46.7 | 45.8 | 45.7 | 44.2 | 45.8 | 44.6 | 44.7 | 45.3 | 45.7 |
| Line 8 | Treasury securities | LM593061105 | 907.4 | 1012.8 | 1157.5 | 1045.6 | 1012.8 | 1055.5 | 1072.4 | 1138.3 | 1157.5 |
| Line 9 | Agency- and GSE-backed securities | LM593061705 | 416.7 | 453.3 | 513.0 | 455.7 | 453.3 | 463.4 | 489.8 | 502.5 | 513.0 |
| Line 10 | Municipal securities | LM593062045 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 11 | Corporate and foreign bonds | LM593063005 | 1418.1 | 1481.9 | 1591.5 | 1523.0 | 1481.9 | 1514.2 | 1541.1 | 1580.6 | 1591.5 |
| Line 12 | Loans | FL594023005 | 2964.6 | 3209.8 | 3600.2 | 3025.8 | 3209.8 | 3196.1 | 3066.8 | 3294.6 | 3600.2 |
| Line 13 | Other loans and advances3 | FL343069005 | 2934.4 | 3176.0 | 3563.4 | 2993.6 | 3176.0 | 3161.7 | 3031.3 | 3258.5 | 3563.4 |
| Line 14 | Mortgages | FL593065005 | 30.2 | 33.8 | 36.8 | 32.2 | 33.8 | 34.4 | 35.5 | 36.0 | 36.8 |
| Line 15 | Corporate equities | LM593064105 | 7380.7 | 8480.3 | 9875.7 | 8425.3 | 8480.3 | 8085.8 | 8867.1 | 9674.6 | 9875.7 |
| Line 16 | Mutual fund shares | LM593064205 | 5321.8 | 5764.9 | 5933.8 | 5889.1 | 5764.9 | 5599.7 | 5972.9 | 5946.6 | 5933.8 |
| Line 17 | Miscellaneous assets | FL593090005 | 7703.5 | 7283.9 | 6605.1 | 7289.3 | 7283.9 | 7562.1 | 7378.4 | 6903.8 | 6605.1 |
| Line 18 | Unallocated insurance contracts4 | FL593095005 | 887.2 | 915.6 | 942.9 | 917.4 | 915.6 | 911.5 | 928.1 | 940.0 | 942.9 |
| Line 19 | Contributions receivable | FL573074005 | 77.3 | 81.0 | 85.6 | 80.1 | 81.0 | 82.0 | 82.9 | 84.7 | 85.6 |
| Line 20 | Claims of pension fund on sponsor5 | FL593073005 | 4702.0 | 4239.0 | 3433.2 | 4224.9 | 4239.0 | 4521.9 | 4268.9 | 3769.7 | 3433.2 |
| Line 21 | Other | FL593093005 | 2037.0 | 2048.3 | 2143.3 | 2066.9 | 2048.3 | 2046.7 | 2098.6 | 2109.4 | 2143.3 |
| Line 22 | Pension entitlements (liabilities)6 | FL594190005 | 26702.5 | 28355.6 | 30015.3 | 28282.0 | 28355.6 | 28134.3 | 29045.4 | 29758.5 | 30015.3 |
| Memo: | |||||||||||
| Line 23 | Pension entitlements of defined benefit plans | FL594190045 | 16052.4 | 16353.3 | 16597.5 | 16278.8 | 16353.3 | 16413.7 | 16475.5 | 16536.9 | 16597.5 |
| Line 24 | Funded by assets7 | FL592000075 | 11350.5 | 12114.3 | 13164.3 | 12053.9 | 12114.3 | 11891.8 | 12206.6 | 12767.2 | 13164.3 |
| Line 25 | Unfunded (line 20) | FL593073045 | 4702.0 | 4239.0 | 3433.2 | 4224.9 | 4239.0 | 4521.9 | 4268.9 | 3769.7 | 3433.2 |
| Line 26 | Household retirement assets8 | FL153050015 | 45078.0 | 49016.0 | 48959.6 | 49016.0 | 48548.9 | 50763.4 | 52518.8 | ||
| Line 27 | Defined benefit plans | FL594190045 | 16052.4 | 16353.3 | 16597.5 | 16278.8 | 16353.3 | 16413.7 | 16475.5 | 16536.9 | 16597.5 |
| Line 28 | Defined contribution plans | FL594090055 | 10650.1 | 12002.4 | 13417.8 | 12003.2 | 12002.4 | 11720.6 | 12569.8 | 13221.5 | 13417.8 |
| Line 29 | Individual retirement plans (IRAs)9 | LM893131573 | 15000.0 | 17000.0 | 17030.0 | 17000.0 | 16784.0 | 17960.0 | 18894.0 | ||
| Line 30 | Annuities at life insurance companies10 | FL543150015 | 3375.5 | 3660.4 | 3647.6 | 3660.4 | 3630.5 | 3758.1 | 3866.3 | ||
Notes:
- Sum of private, state and local government employee, and federal government defined benefit and defined contribution pension plans.
- Annuities held in IRAs are excluded. They are included in line 29.
- 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. 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.
- 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 items on table L.229 for a sectoral distribution of IRA accounts.
Last Update: 2026-03-19