U.S. Retirement Assets Surpass $25 Trillion Mark

money jarsU.S. retirement assets surpassed the $25 trillion mark at the end of 2016, according to a report from the Washington DC-based Investment Company Institute (ICI). That’s up 6.1% for the year. Retirement assets now account for 34% of all household financial assets in the U.S. right now.

What’s interesting about this study is that defined contribution (DC) assets are quickly gaining on defined benefit (DB) plans – total assets in DC plans hit $7.0 trillion versus $5.5 trillion held in government DB plans and $2.9 trillion in assets for private sector DB plans. And target date mutual fund assets are also up – total assets stand at $887 billion. DC plans hold 88% of target date funds.