National Association of State Retirement Administrators

Public Pension Assets

Quarterly Update (Q4 2023)

The Federal Reserve publishes data on state and local defined benefit assets on a quarterly basis. As of the fourth quarter of 2023 (December 31st), aggregate public pension assets were $5.99 trillion, an increase of 7.9 percent from the $5.56 trillion reported for the prior quarter. This value is higher than the same quarter one year ago by some $438 billion, or 10.5 percent. 

This value is subject to revision in future reports. The next release is scheduled for June 2024.

Quarterly Change in State & Local Defined Benefit Assets, 2003-2023 

Annual Update

The Federal Reserve reported in March 2024 that the combined value of defined benefit plan assets held by state and local governments as of Q4 2023 increased by 10.5 percent, to $5.99 trillion, from $5.43 trillion as of Q4 2022.

Annual Change in State & Local Defined Benefit Assets, 2003-2023