Total retirement assets, including money in pension plans in thepublic and private sectors and holdings in IRAs, hit $21.5 trillionin 2014, according to research firm Spectrem Group.
That total is up from $19.6 trillion at the end of 2013, a 9.6percent increase, according to Chicago-based Spectrum, which trackswealthy Americans’ investing habits for large moneymanagers.
Just how much money is that? U.S. gross domestic product isabout $17 trillion, according to the World Bank. China’s is about$9 trillion.
Spectrem's figures closely mirror those of Towers Watson, whichlast month estimated that assets in U.S.institutional retirement funds set a newrecord in 2014 — $22.1 trillion — after gaining 9 percentyear-over-year.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.