U.S. retirement assets totaled $23.5 trillion for the quarter ended Sept. 30, down 4.3% from the end of the previous quarter, said the Investment Company Institute's recent quarterly report.
The report examines government defined benefit plans, corporate DB plans, defined contribution plans, annuity reserves and individual retirement accounts.
Assets in defined contribution plans declined to $6.5 trillion, down 4.1% from the quarter ended June 30 Of that, $4.5 trillion was held in 401(k) plans; $842 billion in 403(b) plans; $504 billion in other corporate defined contribution plans, $426 billion in the Federal Retirement Thrift Savings Plan, Washington; and $255 billion in 457 plans.
Public defined benefit and corporate DB assets also declined — down 3.9% and 4.7%, respectively, to $5 trillion and $2.8 trillion as of Sept. 30.
IRA assets fell 4.8% to an estimated $7.3 trillion by the end of the third quarter. The remaining assets were in annuity reserves.
