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U.S. retirement assets down 2.6% in Q2, Fed data show

Federal Reserve
Federal Reserve building Washington D.C.

U.S. corporate defined benefit and defined contribution plans had combined assets of $6.391 trillion as of June 30, down 2.6%, from the previous quarter, according to the Federal Reserve Flow of Funds report issued Thursday.

The second-quarter drop followed two consecutive quarters of increases. However, total assets were 1% ahead of the second-quarter amount from the previous year.

U.S. corporate defined contribution plans totaled $4.11 trillion, while U.S. corporate defined benefit plans totaled $2.281 trillion, each down 2.6% from the previous quarter.

Both totals still exceed those as of Dec. 31, when DC assets totaled $3.875 trillion and DB plans, $2.206 trillion.

The value of equities in corporate retirement plans dropped to $2.148 trillion in the second quarter, a decrease of 4.3% from the previous quarter. Bonds fell 0.4% to $437.4 billion.

State and local government retirement funds totaled $2.993 trillion in assets as of June 30, a drop of 2.9% from the previous quarter, while federal government retirement fund assets increased 0.2% to $1.517 trillion.