U.S. retirement assets flat in second quarter

U.S. retirement assets totaled $24.8 trillion for the quarter ended June 30, relatively unchanged from $24.9 trillion at the end of the previous quarter, said the Investment Company Institute's most recent quarterly report. Assets in defined contribution plans rose slightly to $6.8 trillion, up 0.4% from the quarter ended March 31. Of the $6.8 trillion, $4.7 trillion was held in 401(k) plans; $872 billion in 403(b) plans; $537 billion in other corporate defined benefit plans, $441 billion in the Federal Retirement Thrift Savings Plan, Washington; and $266 billion in 457 plans. (More: Advisers must go beyond the three Fs to compete for retirement-plan business) Public defined benefit and corporate DB assets declined slightly from the first quarter — down 0.27% and 0.77% in the quarter, respectively, to $5.223 trillion and $2.975 trillion. IRA assets climbed 0.38% to an estimated $7.6 trillion at the end of the second quarter. The remaining assets were in annuity reserves. Meaghan Kilroy is a reporter at sister publication Pensions & Investments