State and local defined benefit pension funds held $3.05 trillion in assets in fiscal year 2012, according to a data summary released Tuesday by the Census Bureau. State plans held $2.53 trillion and locally administered plans held $521 billion in assets, including cash and investments.
Corporate stocks made up the largest asset class, with $1.1 trillion, followed by international securities, $534 billion, real estate holdings and trusts, $492 billion; domestic governmental securities, $314 billion. Corporate bonds accounted for $393 billion.
Earnings on investments accounted for $95 billion in 2012.
Census officials cautioned in the summary against comparing the figures to previous years because changes were made to asset classifications with the 2012 annual survey cycle. Private equity, venture capital and leverage buyouts are now classified under corporate stocks.
Out of $144.6 billion in contributions made to the 4,000 public pension funds in the Census survey, employees contributed 30%, while local governments contributed 40% and state governments contributed 30%.
Details on each state are available on the Census Bureau's website. A report analyzing the 2012 data will be available in the coming weeks.
The survey covers the plans' fiscal year 2012.