Total U.S. retirement assets rose 1.7% in the quarter ended Dec. 31 to $24.7 trillion, the Investment Company Institute’s quarterly report said Thursday.
The ICI report covers government defined benefit plans, corporate DB plans, defined contribution plans, annuity reserves and individual retirement accounts.
The defined contribution plan portion rose 2.1% in the fourth quarter to $6.8 trillion as of Dec. 31. Within that category, $4.6 trillion was held in 401(k) plans, $941 billion in 403(b) plans, $560 billion in other corporate DC plans, $261 billion in 457 plans and $427 billion in the Federal Retirement Thrift Savings Plan, Washington.
Public defined benefit plans rose 1.9% to $5.2 trillion and corporate defined benefit plans remained at $3.2 trillion, the same as the previous quarter.
IRA assets rose to $7.4 trillion as of Dec. 31, up 1.4% from three months earlier. The remaining assets are in annuity reserves.