Total U.S. retirement assets climbed 3.9 percent to a record$21.7 trillion in the third quarter, the Investment CompanyInstitute said.
|The assets include those in IRAs, defined contribution anddefined benefit plans, government plans and annuity reserves.Retirement assets accounted for 34 percent of all household assets,unchanged from the previous quarter.
|At the end of September, IRAs held $6 trillion, up 4.6 percent for the quarter.Defined contribution plan assets rose 4.4 percent to $4 trillion.Assets held by federal, state and local government pension planswere $5.4 trillion, a 3.7 percent increase.
|Private defined benefits plan assets were $2.9 trillion at theend of the quarter and annuity reserves were pegged at $1.9trillion.
|The bulk of 401(k) money, 59 percent, was invested in mutualfunds. For IRAs, the figure was 46 percent.
|The amount of retirement assets invested in target date mutualfunds was $573 billion, a 6.1 percent increase. The institute said89 percent of target date mutual funds were held in retirementaccounts.
|In October, the institute reported that IRAs held alower percentage of equities than they did before therecession.
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