Retirement Assets Dip 5.2 Percent in First Quarter
‘The U.S. Retirement Market, First Quarter 2008,’ from the Investment Company Institute, details the numbers.
Total U.S. retirement assets declined 5.2 percent in the first quarter, to $17.1 trillion, according to a report by the Investment Company Institute in Washington.
The study, “The U.S. Retirement Market, First Quarter 2008,” shows that corporate defined-benefit plan assets fell 7.4 percent, to $2.5 trillion; corporate defined-contribution plan assets were down 4.4 percent, to $4.3 trillion; assets in government pension plans dropped 6.8 percent, to $4.1 trillion; and assets in IRAs fell 4.3 percent, to $4.5 trillion.
However, assets in lifecycle funds increased 1.1 percent to $185 billion, according to the report.
The report can be downloaded at from the institute’s Web site at www.ici.org.
Filed by Timothy Inklebarger of Pensions & Investments, a sister publication of Workforce Management. To comment, e-mail firstname.lastname@example.org.
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