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 editors@workforce.com.
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