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Retirement Assets Total $17.0 Trillion in Third Quarter 2011
Washington, DC, December 21, 2011 - Total U.S. retirement assets were $17.0 trillion as of September 30, 2011, down 7.5 percent from the record high of $18.4 trillion in assets recorded as of June 30, 2011. The decline in retirement assets was driven in part by the drop in corporate equity values—for example, the S&P 500 index fell by 13.9 percent in the third quarter. Account balances fell by less than stock indexes because of asset diversification and ongoing net inflows from retirement plan contributions. Retirement savings accounted for 36 percent of all household financial assets in the United States at the end of the third quarter of 2011.
U.S. Total Retirement Market
Trillions of dollars, end-of-period, selected periods
e Data are estimated.
Note: For definitions of plan categories, see Table 1 in “The U.S. Retirement Market, Third Quarter 2011.” Components may not add to the total because of rounding.
Sources: Investment Company Institute, Federal Reserve Board, National Association of Government Defined Contribution Administrators, American Council of Life Insurers, and Internal Revenue Service Statistics of Income Division
Assets in individual retirement accounts (IRAs) totaled $4.6 trillion at the end of the third quarter of 2011, a decline of 8.5 percent from the end of the second quarter. Defined contribution (DC) plan assets fell 7.5 percent in the third quarter to $4.3 trillion. Government pension plans—including federal, state, and local government plans—held $4.2 trillion in assets as of the end of September, a 7.7 percent drop from the end of June. Private-sector defined benefit (DB) plans held $2.3 trillion in assets at the end of the third quarter of 2011, and annuity reserves outside of retirement accounts accounted for another $1.6 trillion.
Retirement Assets by Type
Billions of dollars, end-of-period, 2011:Q2–2011:Q3
e Data are estimated.
Sources: Investment Company Institute, Federal Reserve Board, National Association of Government Defined Contribution Administrators, American Council of Life Insurers, and Internal Revenue Service Statistics of Income Division
Defined Contribution Plans
Americans held $4.3 trillion in all employer-based DC retirement plans on September 30, 2011, of which $2.9 trillion was held in 401(k) plans. Those figures are down from $4.7 trillion and $3.2 trillion, respectively, on June 30, 2011. Mutual funds managed $2.3 trillion of assets held in 401(k), 403(b), and other DC plans at the end of September, down from $2.6 trillion at the end of June. Mutual funds managed 53 percent of DC plan assets at the end of the third quarter.
401(k) Plan Assets
Billions of dollars, end-of-period, selected periods
Note: Components may not add to the total because of rounding.
Sources: Investment Company Institute, Federal Reserve Board, and Department of Labor
Individual Retirement Accounts
IRAs held $4.6 trillion in assets at the end of the third quarter of 2011, down from $5.0 trillion at the end of the second quarter of 2011. Forty-four percent of IRA assets, or $2.0 trillion, was invested in mutual funds.
IRA Market Assets
Billions of dollars, end-of-period, selected periods
eData are estimated.
Note: Components may not add to the total because of rounding.
Sources: Investment Company Institute, Federal Reserve Board, American Council of Life Insurers, and Internal Revenue Service Statistics of Income Division
Other Developments
As of September 30, 2011, target date mutual fund assets totaled $343 billion, a drop of 10.2 percent in the third quarter, despite ongoing net new cash flow. Retirement accounts held the bulk of target date mutual fund assets: 91 percent of target date mutual fund assets was held through DC plans and IRAs.
Target Date Mutual Fund Assets
Billions of dollars, end-of-period, selected periods
Note: Components may not add to the total because of rounding.
Source: Investment Company Institute
The quarterly retirement data tables are available at “The U.S. Retirement Market, Third Quarter 2011.”
http://www.ici.org/pressroom/news/re...ce=patrick.net
Washington, DC, December 21, 2011 - Total U.S. retirement assets were $17.0 trillion as of September 30, 2011, down 7.5 percent from the record high of $18.4 trillion in assets recorded as of June 30, 2011. The decline in retirement assets was driven in part by the drop in corporate equity values—for example, the S&P 500 index fell by 13.9 percent in the third quarter. Account balances fell by less than stock indexes because of asset diversification and ongoing net inflows from retirement plan contributions. Retirement savings accounted for 36 percent of all household financial assets in the United States at the end of the third quarter of 2011.
U.S. Total Retirement Market
Trillions of dollars, end-of-period, selected periods
e Data are estimated.
Note: For definitions of plan categories, see Table 1 in “The U.S. Retirement Market, Third Quarter 2011.” Components may not add to the total because of rounding.
Sources: Investment Company Institute, Federal Reserve Board, National Association of Government Defined Contribution Administrators, American Council of Life Insurers, and Internal Revenue Service Statistics of Income Division
Assets in individual retirement accounts (IRAs) totaled $4.6 trillion at the end of the third quarter of 2011, a decline of 8.5 percent from the end of the second quarter. Defined contribution (DC) plan assets fell 7.5 percent in the third quarter to $4.3 trillion. Government pension plans—including federal, state, and local government plans—held $4.2 trillion in assets as of the end of September, a 7.7 percent drop from the end of June. Private-sector defined benefit (DB) plans held $2.3 trillion in assets at the end of the third quarter of 2011, and annuity reserves outside of retirement accounts accounted for another $1.6 trillion.
Retirement Assets by Type
Billions of dollars, end-of-period, 2011:Q2–2011:Q3
e Data are estimated.
Sources: Investment Company Institute, Federal Reserve Board, National Association of Government Defined Contribution Administrators, American Council of Life Insurers, and Internal Revenue Service Statistics of Income Division
Defined Contribution Plans
Americans held $4.3 trillion in all employer-based DC retirement plans on September 30, 2011, of which $2.9 trillion was held in 401(k) plans. Those figures are down from $4.7 trillion and $3.2 trillion, respectively, on June 30, 2011. Mutual funds managed $2.3 trillion of assets held in 401(k), 403(b), and other DC plans at the end of September, down from $2.6 trillion at the end of June. Mutual funds managed 53 percent of DC plan assets at the end of the third quarter.
401(k) Plan Assets
Billions of dollars, end-of-period, selected periods
Note: Components may not add to the total because of rounding.
Sources: Investment Company Institute, Federal Reserve Board, and Department of Labor
Individual Retirement Accounts
IRAs held $4.6 trillion in assets at the end of the third quarter of 2011, down from $5.0 trillion at the end of the second quarter of 2011. Forty-four percent of IRA assets, or $2.0 trillion, was invested in mutual funds.
IRA Market Assets
Billions of dollars, end-of-period, selected periods
eData are estimated.
Note: Components may not add to the total because of rounding.
Sources: Investment Company Institute, Federal Reserve Board, American Council of Life Insurers, and Internal Revenue Service Statistics of Income Division
Other Developments
As of September 30, 2011, target date mutual fund assets totaled $343 billion, a drop of 10.2 percent in the third quarter, despite ongoing net new cash flow. Retirement accounts held the bulk of target date mutual fund assets: 91 percent of target date mutual fund assets was held through DC plans and IRAs.
Target Date Mutual Fund Assets
Billions of dollars, end-of-period, selected periods
Note: Components may not add to the total because of rounding.
Source: Investment Company Institute
The quarterly retirement data tables are available at “The U.S. Retirement Market, Third Quarter 2011.”
http://www.ici.org/pressroom/news/re...ce=patrick.net