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U.S. corporate, public DC asset increases outpace DB in first quarter — report

U.S. corporate defined benefit plan assets rose by $18.4 billion in the quarter ended March 31, reaching $3.362 trillion, a 0.55% increase, the Federal Reserve said in its latest report released Thursday.

Meanwhile, U.S. corporate defined contribution plans increased by $227.3 billion during the quarter, or 3.9%, to $5.982 trillion.

According to the Federal Reserve's Financial Accounts of the United States report — formerly known as the Flow of Funds Accounts — state and local government defined benefit plan assets added $66.3 billion in the quarter ended March 31, a 1.2% increase to $5.676 trillion from $5.609 trillion three months earlier.

State and local government defined contribution plan assets totaled $514.8 billion as of March 31, up 4.3% from $493.4 billion as of Dec. 31.

State and local government DB plans' funded status — total defined benefit and other assets minus pension benefit claims — rose in the fourth quarter to $3.96 trillion, up from $3.83 trillion in the previous quarter.