U.S. corporate defined benefit and defined contribution plans had combined assets of $5.323 trillion as of June 30, down 6.8% from three months earlier, according to the Federal Reserve’s Flow of Funds report issued Friday.
Corporate DB plan assets totaled $2.052 trillion as of June 30, down 5.4% from the previous quarter. Total assets in corporate DC plans were $3.271 trillion, down 7.5%.
The value of equities in corporate DB plans was $702.3 billion as of June 30, down 14.3%, while the value of bonds was $353.8 billion, up 3%.
In corporate DC plans, the value of equities was $971.6 billion, down 12%, while the value of bonds was $108.2 billion, down 1%.
Corporate DB plans saw outflows of $24.7 billion for the quarter while corporate DC plans saw inflows of $52.3 billion.
Total assets in state and local government retirement funds as of June 30 were $2.557 trillion, down 8.2%, while the federal government’s retirement funds totaled $1.311 trillion, down 1%.