The 100 largest U.S. public employee retirement systems had $3.305 trillion in assets as of June 30, a 1.4% 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 2%.
Earnings on investments gained $65.5 billion in the second quarter.
Corporate stocks, which make up 37.2% of the pension funds' holdings, increased 2% from the previous quarter and 1.4% year-over-year. Corporate bonds, which make up 13% of holdings, had a quarterly increase of 0.67% and a year-over-year increase of 6.1%. International securities, which make up 18.7% of holdings, rose 1.1% in the first quarter but were down 3.7% year-over-year. Other holdings were federal government securities, at 7.7%; state/local government securities at 0.1%; mortgages at 0.2%; cash and short term investments at 3.4%; and other securities, at 19.4%.
Government contributions increased 6.6% in the second quarter, reaching $30.4 billion. Employee contributions increased 4.5% for the quarter, to $11.7 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.