U.S. Retirement Assets Rise in Q2
Total U.S. retirement assets were $24.0 trillion as of June 30, 2014, up 2.8 percent from $23.4 trillion on March 31, 2014, according to the Investment Company Institute (ICI)
. Retirement assets accounted for 36 percent of all household financial assets in the United States at the end of the second quarter of 2014.
Americans held $6.6 trillion in all employer-based DC retirement plans on June 30, 2014, of which $4.4 trillion was held in 401(k) plans, according to the ICI. In addition, at the end of the second quarter $555 billion was held in other private-sector DC plans.
Assets in individual retirement accounts (IRAs) totaled $7.2 trillion at the end of the second quarter of 2014, an increase of 3.3 percent from the end of the first quarter and up from $6.9 trillion at the end of the first quarter of 2014. Forty-four percent of IRA assets, or $3.1 trillion, was invested in mutual funds.