Total U.S. retirement assets declined 5.2% in the first quarter to $17.1 trillion, according to a report by the Investment Company Institute, Washington.
The study, “The U.S. Retirement Market, First Quarter 2008,” showed corporate defined benefit plan assets fell 7.4% to $2.5 trillion; corporate defined contribution plan assets were down 4.4% to $4.3 trillion; assets in government pension plans dropped 6.8% to $4.1 trillion; and assets in IRAs fell 4.3% to $4.5 trillion.
However, assets in lifecycle funds increased 1.1% to $185 billion, according to the report.
The report can be downloaded at from the institute’s website at www.ici.org.
