National Association of State Retirement Administrators

Public Pension Assets

Quarterly Update (Q4 2022)

The Federal Reserve publishes data on state and local defined benefit assets on a quarterly basis. As of the four quarter of 2022 (December 31st), aggregate public pension assets were $5.19 trillion, an increase of 3 percent from the $5.04 trillion reported for the prior quarter. This value is lower than the same quarter one year ago by some $720 billion, or 12.1 percent. The fourth quarter of 2022 marks the first quarter in which the aggregate value of public pension assets increased following three consecutive quarters of decline.

The next release is scheduled for June 2023.

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

Annual Update

The Federal Reserve reported in March 2023 that the combined value of defined benefit plan assets held by state and local governments as of Q4 2022 declined by 12.1 percent, to $5.19 trillion, from $5.91 trillion as of Q4 2021.

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