Weighing in at a hefty $24.8 trillion as of mid-year 2015, total U.S. retirement assets were about unchanged from the end of March, according to the Investment Company Institute. By that measure, retirement assets accounted for 36% of all household financial assets.
The quarterly retirement data tables are available at “The U.S. Retirement Market, Second Quarter 2015.”
Assets in individual retirement accounts (IRAs) totaled $7.6 trillion at the end of the second quarter of 2015, up 0.4% from the end of the first quarter. Defined contribution (DC) plan assets rose 0.4% in the second quarter to $6.8 trillion. Federal, state, and local government defined benefit plans held $5.2 trillion in assets as of the end of June, a 0.3% percent decline from the end of March.
Private sector DB plans held $3.0 trillion in assets at the end of the second quarter of 2015. Annuity reserves outside of retirement accounts accounted for another $2.1 trillion.
Of the $6.8 trillion in all employer-based DC retirement plans on June 30, 2015, $4.7 trillion was held in 401(k) plans. In addition to 401(k) plans. At the end of the second quarter, $537 billion was held in other private-sector DC plans, $872 billion in 403(b) plans, $266 billion in 457 plans, and $441 billion in the Federal Employees Retirement System’s Thrift Savings Plan (TSP).
Mutual funds managed $3.8 trillion, or 56%, of assets held in DC plans at the end of June. Forty-eight percent of IRA assets, or $3.6 trillion, was invested in mutual funds.
As of June 30, 2015, target date mutual fund assets totaled $761 billion, an increase of 2.7% in the second quarter; 88% of target date mutual fund assets were held through DC plans and IRAs.
© 2015 RIJ Publishing LLC. All rights reserved.
