U.S. retirement assets in the first quarter rose 1.2% from the previous quarter, to $16.6 trillion, according to the Investment Company Institute.
The data, released Thursday, includes assets held in 401(k), 403(b), and other defined contribution plans. Retirement savings make up almost 40% of household financial assets in the United States.
IRA assets rose 2.38% from the previous quarter, to $4.3 trillion, and mutual funds managed 47% of those assets.
U.S. assets in 401(k) plans increased 1.85%, to $2.75 trillion, and assets in all employer-based defined contribution plans increased 1.96%, to $4.16 trillion. The total of assets in 401(k), 403(b), and other defined contribution plans managed by mutual funds rose 4.7% from the previous quarter, to $2.16 trillion, and mutual funds managed 52% of defined contribution assets in the first quarter.
Assets in life-cycle funds rose 14.29%, to $133 billion, and almost 90% of them were held in retirement accounts.
