Public Plans Reach Highest Assets Since Q208
Total holdings and investments quarter-to-quarter increased $93.9 billion or 3.6% to $2.7 trillion. Total holdings and investments year-to-year rose $253.5 billion or 10.2% from $2.5 trillion in the first quarter of 2010. This was the sixth consecutive quarter with a year-to-year increase, the report said.
Employee and government contributions combined totaled $29.8 billion in the first quarter of 2011, year-to-year decreasing $1.7 billion or 5.3% from $31.5 billion in the first quarter of 2010. While both employee and government contributions decreased, government contributions fell at the faster rate of 5.7% year-to-year, compared to employee contributions which fell at a rate of 4% year-to-year, the Census Bureau found.
Holdings of corporate stocks increased $29.3 billion or 3.4% to $896.4 billion in the first quarter of 2011. Corporate stocks year-to-year were up $52.9 billion or 6.3% from $843.6 billion in the first quarter of 2010. Corporate stocks comprised just under a third (32.8%) of the total cash and security holdings of major public employee retirement systems for the current quarter.
Corporate bonds were down $0.6 billion or 0.1% to $430 billion in the first quarter of 2011. Corporate bonds year-to-year increased $10.2 billion or 2.4% from $419.8 billion in the first quarter 2010. Corporate bonds comprised just under a sixth (15.7%) of the total cash and security holdings of major public employee retirement systems for the current quarter.
International securities increased $18.8 billion or 3.8% to $507.6 billion in the first quarter of 2011. This was the highest level since the beginning of this investment category’s data collection eight years ago (2002:Q4), the report said. International securities year-to-year rose $78.5 billion or 18.3% from $429.1 billion in the first quarter of 2010. This was the sixth consecutive quarter with a year-to year increase. International securities comprised just under a fifth (18.5%) of the total cash and security holdings of major public employee retirement systems for the current quarter.
Federal government securities increased after two consecutive quarterly declines, up $2.3 billion or 1.4% to $167 billion in the first quarter of 2011. Federal government securities year-to year rose $4.2 billion or 2.6% from $162.9 billion in the first quarter of 2010. This was the fifth consecutive quarter with a year-to-year increase. Federal government securities comprised 6.1% of the total cash and security holdings for the current quarter.