U.S. Retirement Assets Grow in 3rd Quarter

By John Iekel • December 27, 2017 • 0 Comments
U.S. retirement assets grew in the third quarter of 2017, according to a recent report, reaching $27.2 trillion by Sept. 30. So broad was the growth, in fact, that virtually every kind of retirement plan/asset category showed improvement from the second quarter.

According to the Investment Company Institute (ICI), assets in private sector and government defined benefit plans, defined contribution plans, IRAs, and annuities grew in the third quarter of 2017.

The assets contained in IRAs grew the most. Growth in the retirement plan categories occurred in this way:

 

Category       2nd Q of 2017      3rd Q of 2017      Growth, Q2 to Q3
 IRAs       $8.354 trillion       $8.581 trillion          +$237 billion
 DC plans       $7.491 trillion       $7.675 trillion          +$184 billion
 401(k) plans       $5.275 trillion       $5.140 trillion          +$135 billion
Government DB plans       $5.651 trillion       $5.781 trillion          +$130 billion
Private DB plans       $3.010 trillion       $3.056 trillion          +$46 billion
Annuity reserves       $2.120 trillion       $2.152 trillion          +$32 billion

 

And the news is even better than that — U.S. retirement assets have been growing consistently since the start of 2015. Not only that, the figure by the end of the third quarter of 2017 was almost 2.5 times higher than where retirement assets stood at the end of 2000.





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