U.S. retirement assets as of Sept. 30 totaled $15.6 trillion, up 8.3% from three months earlier, according to a report by the mutual fund industry’s Investment Company Institute.
Corporate defined benefit plans had $2.1 trillion, up 5%, while state and local pension plans were up 8% to $2.7 trillion, the study said.
Defined contribution plans had $3.9 trillion in assets, also up 8.3% from June 30.
Total assets in federal retirement plans were unchanged at $1.2 trillion, while total assets in annuities were $1.5 trillion, up 7.1%, the study said.
Total IRA assets in the third quarter were an estimated $4.1 trillion, up 7.9%.