Individual retirement accounts now represent more than one-fourth of U.S. total retirement market assets, up from 17 percent 20 years ago, according to the Investment Company Institute.

There was $5.7 trillion in IRA assets recorded at the end of the second quarter of 2013. In June, IRA assets were 9 percent of all household financial assets, up from 4 percent of assets two decades ago.

In May 2013, 46.1 million or 38 percent of U.S. households said they owned IRAs. Among those who said they had an IRA, 84 percent also had employer-sponsored retirement plans.

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