Public Pension Assets
Quarterly Update (Q1 2025)
The Federal Reserve publishes data on state and local defined benefit assets on a quarterly basis. As of the first quarter of 2025 (March 31st), aggregate public pension assets were an estimated $6.10 trillion, a decrease of 1.3 percent from the $6.18 trillion reported for the prior quarter. This value is higher than the same quarter one year ago by some $159 billion, or 2.7 percent.
This value is subject to revision in future reports. The next release is scheduled for September 2025.
Quarterly Change in State & Local Defined Benefit Assets, 2003-2025
Annual Update
The Federal Reserve reported in March 2025 that the combined value of defined benefit plan assets held by state and local governments as of Q4 2024 increased by 7.9 percent, to $6.17 trillion, from $5.72 trillion as of Q4 2023.