The 100 largest U.S. public employee retirement systems had $3.25 trillion in assets as of March 31, a 0.92% increase from three months earlier, said the U.S. Census Bureau's latest quarterly survey of public pension funds.
Compared to the same quarter in 2015, assets were down 4%.
Earnings on investments gained $14.4 billion in the first quarter.
Corporate stocks, which make up 36.5% of the pension funds' holdings, increased 1.2% from the previous quarter but fell 3.4% year-over-year. Corporate bonds, which make up 12.8% of holdings, had a quarterly increase of 2.2% and a year-over-year decrease of 0.2%.
International securities, which make up 19.1% of holdings, rose 1.5% in the first quarter and rose 0.3% year-over-year.
Government contributions decreased 5.6% in the first quarter, reaching $28.7 billion. Employee contributions decreased 3.6% for the quarter, to $11 billion.
The 100 public pension systems represent 88.4% of all U.S. public pension fund assets. The survey is available on the Census Bureau's website.