DC Assets Fall in 2008; Share of Retirement Assets Rises
Also in the report released Wednesday, March 18, “Retirement Market Insights 2009,” Spectrem wrote that U.S. retirement assets tumbled 24 percent in 2008 to $7.86 trillion.
The overall share of retirement assets from DC plans grew from 47 percent in 2007.
Assets in corporate 401(k) plans, which account for 71 percent of all corporate DC assets, declined 23 percent to $1.94 trillion.
Total DB assets were $4.03 trillion in 2008, down 27 percent from the previous year.
The report was based on data taken from public and private sources, as well as from Spectrem, as of December 31.