By the end of the first quarter of 2017, U.S. retirement assets amounted to $26.1 trillion, according to the Investment Company Institute (ICI). That’s a 3.2% increase over where things stood at the end of last year.
Furthermore, says ICI, those retirement assets constituted just over one-third of all household financial assets.
The assets at the end of the first quarter broke down in this manner:
The report offers finer details on DC plans:
Investments in mutual funds figured heavily in the first quarter, the ICI says. They accounted for $3.2 trillion of 401k plans’ assets and $3.9 trillion of the assets contained in IRAs.
A Caveat
While retirement assets grew, unfunded liabilities amounted to $4.2 trillion by the end of the first quarter, says the ICI. It further reports that unfunded liabilities are a bigger factor for federal DB entitlements than any other kind of entitlements, amounting to 54%. They comprised 32% of state and local DB plan entitlements and 13% of private sector pension plan entitlements.
Furthermore, says ICI, those retirement assets constituted just over one-third of all household financial assets.
The assets at the end of the first quarter broke down in this manner:
Retirement Asset | Total Assets, March 31 | Change from End of 4th Quarter 2016 |
IRAs | $8.2 trillion | +4.1% |
Defined Contribution Plans | $7.3 trillion | +3.7% |
Defined Benefit Plans, Public Sector | $5.5 trillion | +2.1% |
Defined Benefit Plans, Private Sector | $3 trillion | -- |
Annuity Reserves | $2.1 trillion | -- |
The report offers finer details on DC plans:
Type of DC Plan | Assets, March 31 |
401(k) Plans | $5 trillion |
403(b) Plans | $932 billion |
Other Private Sector Plans | $565 billion |
Federal Employees Retirement System Thrift Savings Plan | $484 billion |
457 Plans | $290 billion |
Investments in mutual funds figured heavily in the first quarter, the ICI says. They accounted for $3.2 trillion of 401k plans’ assets and $3.9 trillion of the assets contained in IRAs.
A Caveat
While retirement assets grew, unfunded liabilities amounted to $4.2 trillion by the end of the first quarter, says the ICI. It further reports that unfunded liabilities are a bigger factor for federal DB entitlements than any other kind of entitlements, amounting to 54%. They comprised 32% of state and local DB plan entitlements and 13% of private sector pension plan entitlements.
- Log in to post comments