Retirement assets grew by 1.1% in the first quarter of 2014, according to the ICI. The growth was driven primarily by IRAs and DC plans, which grew at 1.5% and 1.6% respectively. Retirement assets now account for an estimated 34% of all U.S. household assets. No wonder politicians, money managers and financial advisors are paying close attention to our industry.
Target date funds, now at $641 billion in assets, rose 3.7%, of which almost 70% are in DC plans. Mutual funds’ market share of DC plans held steady at 60%; 401(k) plans, which include $4.265 trillion, grew 1.7% and account for 72% of all DC assets.
