Retirement Assets Up Slightly at Midyear

According to the latest data from the Investment Company Institute (ICI), total retirement assets grew slightly between the first and second quarters of 2013. The total U.S. retirement market stands at $20.9 trillion as of June 30, up from $20.7 trillion as of March 31. IRAs lead the way with $5.7 trillion in assets, followed by defined contribution (DC) plans at $5.3 trillion, government plans at $5.2 trillion, private DB plans at $2.8 trillion,and annuity reserves at $1.8 trillion. Target-date mutual fund assets have grown from $160 billion in 2008 to $540 billion as of June 30, 2013.