Americans held $6.586 trillion in employer-based DC retirement plans on June 30, 2014, of which $4.435 trillion was held in 401(k) plans. Those figures are up from $6.357 trillion and $4.265 trillion, respectively, as of March 31, 2014, according to the Investment Company Institute (ICI). A year ago, 401(k) assets totaled $3.79 trillion.
In addition to 401(k) plans, at the end of the second quarter:
- $555 billion was held in other private-sector DC plans
- $941 billion in 403(b) plans
- $255 billion in 457 plans
- $401 billion in the Federal Employees Retirement System’s Thrift Savings Plan
Total U.S. retirement assets were $24.0 trillion as of June 30, 2014, up 2.8% from $23.4 trillion on March 31, 2014, according to the ICI. Retirement assets accounted for 36% of all household financial assets in the United States at the end of the second quarter of 2014.
Assets in IRAs totaled $7.2 trillion at the end of the second quarter of 2014, an increase of 3.3% from the end of the first quarter.
Government DB plans — including federal, state and local government plans — held $5.1 trillion in assets as of the end of June, up 1.4% from the prior quarter. Private-sector DB plans held $3.2 trillion in assets at the end of the second quarter of 2014, and annuity reserves outside of retirement accounts accounted for another $2.0 trillion.
