Total U.S. retirement plan assets were $24.7 trillion as of Dec. 31, 2014, with defined contribution assets registering the strongest percentage growth, according to a new report.
While total retirement plan assets were up 1.7% from the $24.2 trillion mark at Sept. 30, 2014, according to the Investment Company Institute, DC plan assets rose 2.1% in the fourth quarter, to $6.8 trillion. Meanwhile, federal, state and local government DB plans — held $5.2 trillion in assets as of the end of December, a 1.9% increase from the end of September.
IRAs remained the largest category, totaling $7.4 trillion at the end of the fourth quarter of 2014, an increase of 1.4% from the previous quarter — though a large amount of those IRA assets originated in workplace DC retirement plans.
ICI also reported that at the end of the fourth quarter $951 billion was held in 403(b) plans and there was $261 billion in 457 plans. And retirement assets accounted for 36% of all household financial assets in the United States at the end of 2014.
While total retirement plan assets were up 1.7% from the $24.2 trillion mark at Sept. 30, 2014, according to the Investment Company Institute, DC plan assets rose 2.1% in the fourth quarter, to $6.8 trillion. Meanwhile, federal, state and local government DB plans — held $5.2 trillion in assets as of the end of December, a 1.9% increase from the end of September.
IRAs remained the largest category, totaling $7.4 trillion at the end of the fourth quarter of 2014, an increase of 1.4% from the previous quarter — though a large amount of those IRA assets originated in workplace DC retirement plans.
ICI also reported that at the end of the fourth quarter $951 billion was held in 403(b) plans and there was $261 billion in 457 plans. And retirement assets accounted for 36% of all household financial assets in the United States at the end of 2014.
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