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ASSETS OF STATE AND LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS BY TYPE OF ASSET, 2007-2011

($ billions, end of year)

  2007 2008 2009 2010 2011
Total financial assets $3,198.8 $2,324.5 $2,673.7 $2,931.5 $2,849.1
Checkable deposits and currency 17.9 17.8 17.7 17.3 18.4
Time and savings deposits 0.7 0.7 0.7 0.7 0.7
Money market fund shares 12.4 14.3 14.3 13.9 14.8
Security repurchase agreements (1) 21.7 23.5 23.5 22.8 24.3
Credit market instruments 820.3 833.5 824.7 816.5 834.8
     Open market paper 38.4 25.9 24.0 22.4 23.8
     U.S. government securities 472.7 483.9 481.4 470.8 479.2
         Treasury securities 141.6 146.4 174.5 185.6 188.9
          Agency- and GSE (2)-backed securities 331.1 337.5 306.9 285.2 290.3
     Municipal securities 2.4 1.4 1.5 1.6 1.5
     Corporate and foreign bonds 297.0 312.9 308.6 312.4 320.9
     Mortgages 9.7 9.4 9.3 9.4 9.3
Corporate equities 2,013.7 1,237.9 1,549.8 1,782.5 1,690.6
Mutual fund shares 296.4 181.1 226.7 260.8 247.3
Miscellaneous assets 15.7 15.7 16.2 17.0 18.1
Pension fund reserves (liabilities) (3) 3,297.9 2,414.7 2,759.8 3,024.0 2,967.9

(1) Short-term agreements to sell and repurchase government securities by a specified date at a set price.
(2) Government-sponsored enterprise.
(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

Source: Board of Governors of the Federal Reserve System, June 7, 2012.

 
ASSETS OF STATE AND LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS BY TYPE OF ASSET, 2004-2008

($ billions, end of year)

    2004 2005 2006 2007 2008
Total financial assets $2,577.5 $2,721.4 $3,108.3 $3,216.3 $2,327.1
Checkable deposits and currency 16.3 15.8 14.1 16.6 16.5
Time and savings deposits 1.4 1.3 0.9 1.0 1.0
Money market fund shares 11.6 11.7 13.8 16.2 18.8
Security repurchase agreements (1) 20.2 19.7 24.0 28.3 30.7
Credit market instruments 675.3 693.4 825.4 855.6 851.1
     Open market paper 35.2 35.2 42.6 50.3 33.9
     U.S. government securities 409.8 412.2 467.9 502.9 515.1
          Treasury 151.0 153.8 157.1 168.8 174.6
          Agency- and GSE (2)-backed securities 258.8 258.4 310.8 334.1 340.5
     Municipal securities 1.8 1.7 3.6 1.9 1.1
     Corporate and foreign bonds 213.5 227.9 296.9 287.8 288.6
     Mortgages 15.1 16.4 14.5 12.7 12.4
Corporate equities 1,600.9 1,715.8 1,926.3 1,985.9 1,211.8
Mutual fund shares 235.9 248.4 287.5 296.4 181.1
Miscellaneous assets 15.9 15.4 16.3 16.2 16.2
Pension fund reserves (liabilities) (3) 2,621.3 2,763.4 3,175.1 3,315.5 2,435.2

(1) Short-term agreements to sell and repurchase government securities by a specified date at a set price.
(2) Government-sponsored enterprise.
(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

Source: Board of Governors of the Federal Reserve System, June 11, 2009.

 
ASSETS OF STATE AND LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS BY TYPE OF ASSET, 2005-2009

($ billions, end of year)

  2005 2006 2007 2008 2009
Total financial assets $2,721.4 $3,089.8 $3,198.8 $2,324.5 $2,685.8
Checkable deposits and currency 15.8 13.1 17.9 17.8 17.6
Time and savings deposits 1.3 0.8 0.7 0.7 0.7
Money market fund shares 11.7 13.8 12.4 14.3 14.2
Security repurchase agreements (1) 19.7 24.1 21.7 23.5 23.3
Credit market instruments 693.4 808.0 820.3 833.5 818.1
     Open market paper 35.2 42.8 38.4 25.9 22.8
     U.S. government securities 412.2 464.0 472.7 483.9 474.4
          Treasury 153.8 156.2 141.6 146.4 174.5
          Agency- and GSE (2)-backed securities 258.4 307.8 331.1 337.5 299.9
     Municipal securities 1.7 3.3 2.4 1.4 1.5
     Corporate and foreign bonds 227.9 283.4 297.0 312.9 310.1
     Mortgages 16.4 14.4 9.7 9.4 9.3
Corporate equities 1,715.8 1,926.1 2,013.7 1,237.9 1,566.5
Mutual fund shares 248.4 287.5 296.4 181.1 229.2
Miscellaneous assets 15.4 16.3 15.7 15.7 16.2
Pension fund reserves (liabilities) (3) 2,763.4 3,156.6 3,297.9 2,422.0 2,778.8

(1) Short-term agreements to sell and repurchase government securities by a specified date at a set price.
(2) Government-sponsored enterprise.
(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

Source: Board of Governors of the Federal Reserve System, June 10, 2010.

 
ASSETS OF STATE AND LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS BY TYPE OF ASSET, 2006-2010

($ billions, end of year)

  2006 2007 2008 2009 2010
Total financial assets   $3,089.8 $3,198.8 $2,324.5 $2,673.7 $2,931.5
Checkable deposits and currency  13.1 17.9 17.8 17.7 17.3
Time and savings deposits   0.8 0.7 0.7 0.7 0.7
Money market fund shares   13.8 12.4 14.3 14.3 13.9
Security repurchase agreements (1) 24.1 21.7 23.5 23.5 22.8
Credit market instruments   808.0 820.3 833.5 824.7 816.5
     Open market paper   42.8 38.4 25.9 24.0 22.4
     U.S. government securities 464.0 472.7 483.9 481.4 470.8
          Treasury securities   156.2 141.6 146.4 174.5 185.6
          Agency- and GSE (2)-backed securities   307.8 331.1 337.5 306.9 285.2
     Municipal securities   3.3 2.4 1.4 1.5 1.6
     Corporate and foreign bonds   283.4 297.0 312.9 308.6 312.4
     Mortgages   14.4 9.7 9.4 9.3 9.4
Corporate equities   1,926.1 2,013.7 1,237.9 1,549.8 1,782.5
Mutual fund shares   287.5 296.4 181.1 226.7 260.8
Miscellaneous assets   16.3 15.7 15.7 16.2 17.0
Pension fund reserves (liabilities) (3) 3,156.6 3,297.9 2,414.7 2,759.8 3,024.0

(1) Short-term agreements to sell and repurchase government securities by a specified date at a set price.
(2) Government-sponsored enterprise.
(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

Source: Board of Governors of the Federal Reserve System, June 9, 2011.