IRA assets at all-time high, EBRI says

IRA assets jumped 16.5% in 2006 to a record $4.23 trillion, said a study released today by the Employee Benefit Research Institute. The increase was fueled largely by rollovers from employment-based plans. About 47% of individual retirement account assets were held in mutual funds in 2006, up from 46% in 2005 and 14% in 1981, EBRI said. Brokerage accounts held 38% of IRA assets in 2006 and 2005, up from 22% in 1981. The market share for banks and thrifts dropped to 7% in 2006 from 8% in 2005 and 58% in 1981.