Corporate retirement assets top $8 trillionNews added by Benefits Pro on June 10, 2014

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By Lisa Barron

The level of assets in corporate defined contribution and defined benefit plans shows no sign of slowing down.

Total assets at the end of the first quarter reached $8.064 trillion, up 8.6 percent from a year earlier, according to the Federal Reserve’s latest Financial Accounts of the United States report.

The report also showed assets in private DB and DC accounts at the end of last year were up 12 percent over the end of 2012, totaling $7.97 trillion.

That would account for roughly one-quarter of all retirement assets at the end of 2013, according to the Investment Co. Institute, which said recently that total U.S. retirement assets were $23 trillion as of Dec. 31.

Other assets in the ICI report included IRAs, government pension plans and annuity reserves.

DC plan assets continue to surpass DB plan assets, the Fed said. The former totaled $4.983 trillion as of March 31, while the latter totaled $3.081 trillion.

Among other findings was that equities in corporate DB pension plans totaled $2.5 trillion, an increase of 1.3 percent from the three months earlier and up 14.1 percent from a year earlier.

Also, as of March 31, federal government retirement fund assets reached $3.56 trillion, up 0.8 percent from Dec. 31 and up 4.3 percent from a year ago, while state and local government assets totaled $4.892 trillion, an increase of 0.9 percent from Dec. 31 and a 4.1 percent increase from March 31, 2013.

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