While the U.S. Census Bureau announced Monday that state-administered pension plans improved over 10% in 2010, Cerulli Associates also announced that total assets in the U.S. retirement market, including public and private defined-contribution, defined-benefit and individual retirement account markets, increased 9.6% in 2010 to $15.8 trillion.
Cerulli predicts the market will grow by about 1% in 2011, ultimately reaching about $22 trillion in 2016.
IRA assets account for nearly 30% of total market assets. Cerulli predicts that due to large DC plan rollovers fueling asset levels, IRA assets should represent 33% of the total market in 2016.
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