State and local pension plans held just under $2.5 trillion in assets in 2004, a more than $300 billion increase over the level of a year earlier, according to statistics released in September by the U.S. Census Bureau.

Of the 2,659 plans’ assets, nearly $2 trillion was held in non-governmental securities, including $931 billion in domestic stocks and $421 billion in corporate bonds. The plans held $223 billion in governmental securities.

For the 2003-2004 fiscal year, the plans had $405 billion in income, which included $31 billion from employee contributions, $61 billion from government contributions and $312 billion – or 77 percent of total income – from investment earnings.