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ASSET OWNERS

Corporate, public retirement assets grow in fourth quarter, data show

Corporate defined benefit plan assets increased by $18.3 billion in the quarter ended Dec. 31, to reach $3.34 trillion, a 0.55% increase, according to the latest Federal Reserve report released Thursday.

Corporate defined contribution plans increased by $51 billion, or 0.9%, to $5.7 trillion.

According to the Federal Reserve's Financial Accounts of the United States report — formerly known as the Flow of Funds Accounts — state and local government defined benefit pension assets added $63.1 billion in the fourth quarter to reach $5.6 trillion, up 1.14% from $5.54 billion the previous quarter. Defined contribution assets decreased $2.7 billion, dropping to $490.6 billion from $493.3 billion three months earlier.

Public plans' funded status — total defined benefit and other assets minus pension benefit claims — rose in the fourth quarter to $3.86 trillion, up from $3.81 trillion in the previous quarter..