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Retirement Funds

Corporate and public DB assets increase, while DC falls in first quarter

Corporate defined benefit plan assets rose by $9 billion in the quarter ended March 31, to $3.212 trillion, a 0.28% increase, according to the Federal Reserve's latest report.

Corporate defined contribution plans decreased by $40 billion in the first quarter, or 0.64%, to $6.249 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 plan assets added $58 billion in the quarter ended March 31 to $5.859 trillion, a 1% increase from the end of the previous quarter.

Meanwhile, state and local government defined contribution plan assets totaled $494 billion as of March 31, down 0.8% from Dec. 31.

State and local government DB plans' funded status — total defined benefit and other assets minus pension benefit claims — fell in the fourth quarter to $4.203 trillion, down from $4.282 trillion in the previous quarter.