National Association of State Retirement Administrators


Public Pension Assets

Quarterly Update (Q2 2022)

The Federal Reserve publishes data on state and local defined benefit assets on a quarterly basis. As of the second quarter of 2022 (June 30th), aggregate public pension assets were $5.12 trillion, a decrease of 10 percent from the $5.68 trillion reported for the prior quarter. This value is also lower than the same quarter one year ago by some $482 billion, or 8.6 percent. The second quarter of 2022 marks the second consecutive quarter in which the aggregate value of public pension assets declined following seven consecutive quarters of growth.

The next release is scheduled for December 2022.

Quarterly Change in State & Local Defined Benefit Assets, 2003-2022 



Annual Update

The Federal Reserve reported in March 2022 that the combined value of defined benefit plan assets held by state and local governments as of Q4 2021 increased by 13.8 percent, to $5.85 trillion, from $5.14 trillion as of Q4 2020.

Annual Change in State & Local Defined Benefit Assets, 2003-2021