Mutual Funds Manage 57% Of Defined Contribution Assets
Americans held $5 trillion in all employer-based DC retirement plans on September 30, of which $3.5 trillion was held in 401(k) plans, according to data from the Investment Company Institute.
Those figures are up from $4.8 trillion and $3.4 trillion, respectively, as of June 30. Mutual funds managed $2.8 trillion of assets held in 401(k), 403(b), and other DC plans at the end of September, up from $2.7 trillion at the end of June. Mutual funds managed 57% of DC plan assets at the end of the third quarter.
Total U.S. retirement assets were $19.4 trillion as of September 30, up 3.5% from $18.7 trillion recorded on June 30.