Total U.S. retirement plan assets increased 11.2% to $31.7 trillion for the three months ended June 30, according to data from the Investment Company Institute.
Assets were vs. $28.7 trillion in the first quarter.
Each of five retirement categories tracked by ICI increased during the second quarter vs. the first quarter, which saw drops in each category at the height of the economic impact of the COVID-19 pandemic, according to a Sept. 24 news release from ICI containing comparative asset data.
Defined contribution plans' assets jumped to $8.9 trillion as of June 30, up 11.6% from $7.9 trillion three months earlier. These figures encompass all DC plans.
Of the total DC plan assets reported as of June 30, $6.25 trillion were held in 401(k) plans, $1.1 trillion in 403(b) plans, $641 billion in the Federal Thrift Savings Plan, Washington, $555 billion in "other" private-sector DC plans and $345 billion in 457 plans. Comparative data for individual DC plan types were not provided.
Government defined benefit plans reported assets of $6.5 trillion for the second quarter, up 8.3% from the $6 trillion for the first quarter.
Private-sector DB plan assets jumped 13.3% to $3.4 trillion as of June 30 from $3 trillion three months earlier.