This summary is part of a continuing series designed to provide information on the finances, including that of pension funds, of the United States’ over 90,000 state and local governments. The 2016 Annual Survey of Public Pensions provides data on membership, assets, revenues, and expenditures of state- and locally-administered defined benefit plans.

• Government cash and investment holdings for state- and locally-administered pension systems declined 1.6 percent, from $3,800.4 billion in 2015 to $3,739.2 billion in 2016.
• Earnings on investments for state- and locally-administered pension systems decreased 67.9 percent, from $155.5 billion in 2015 to $49.9 billion in 2016.