U.S. retirement assets continue increasing

U.S. retirement assets totaled $36.71 trillion at the end of the second quarter, according to data published recently by the Investment Company Institute. That marked the third straight quarterly increase after dropping to $32.81 trillion in September 2022.

At the end of 2021, retirement assets were $39.73 trillion.

Defined contribution assets totaled $10.23 trillion, up from the recent nadir of $8.96 trillion at the end of 2022's third quarter. The bulk, more than 70%, was placed in 401(k) plans.

Defined benefit assets ended the period at $11.24 trillion. State and local pension plans accounted for about half of the total.