For Third Quarter of 2018 Retirement Assets Total $29.2 Trillion

According to a report released on December 20, 2018 by the Investment Company Institute (ICI),Retirement Assets Total $29.2 Trillion in Third Quarter. This is an increase of 2.8 percent from the previous quarter. The report goes on to say that retirement funds make up 33% of household financial assets as of the end of September 2018.

Here are some more items found in the report:

Assets in individual retirement accounts (IRAs) totaled $9.5 trillion at the end of the third quarter of 2018, an increase of 3.0 percent from the end of the second quarter of 2018. Defined contribution (DC) plan assets (note that solo 401k plans fall under this category) were $8.1 trillion at the end of the third quarter, up 3.3 percent from June 30, 2018.

Americans held $8.1 trillion in all employer-based DC retirement plans on September 30, 2018, of which $5.6 trillion was held in 401(k) plans. In addition to 401(k) plans, at the end of the third quarter, $550 billion was held in other private-sector DC plans, $1.0 trillion in 403(b) plans, $332 billion in 457 plans, and $606 billion in the Federal Employees Retirement System’s Thrift Savings Plan (TSP). Mutual funds managed $3.7 trillion, or 67 percent, of assets held in 401(k) plans at the end of September 2018. With $2.3 trillion, equity funds were the most common type of funds held in 401(k) plans, followed by $1.0 trillion in hybrid funds, which include target date funds.

The quarterly retirement data tables are available at “The US Retirement Market, Third Quarter 2018.”

 

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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