Total U.S. retirement assets totaled $15.7 trillion in the second quarter, down 5.1% from three months earlier, according to an Investment Company Institute report.
Total assets in corporate defined benefit plans were $2.1 trillion as of June 30, down 4.5% from the end of the previous quarter.
Defined contribution plan assets — including 401(k) and other corporate plans, 403(b) and 457 plans — totaled $4 trillion as of June 30, down 4.8% from March 31, the report said.
State and local pension plans had total assets of $2.6 trillion for the latest quarter, down 10%, while federal plans and annuities were unchanged between the end of the second and first quarters, with $1.3 trillion and $1.5 trillion, respectively.
Total assets in IRAs were estimated to be $4.2 trillion as of June 30, down 4.5%.
The report, “The U.S. Retirement Market, Second Quarter 2010,” said the decline reflected second-quarter market returns, with the S&P 500 returned -11.4% and the Citigroup Broad Investment Grade Bond index returned 3.7%, according to an ICI news release on the report.