Assets of largest US retirement funds hits record U$10 trillion

Defined contribution assets are soaring ahead of defined benefits

Assets of largest US retirement funds hits record U$10 trillion
Steve Randall

The assets held by the 1,000 largest US retirement plans soared in 2017.

An annual report from Pensions & Investments shows that in the year to Sept. 30, 2017, total assets were up 10% to $10.33 trillion, the highest level in the history of the survey.

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Defined contributions plans were the clear leader, with assets growing almost twice as fast as defined benefits plans. DC plans gained 13.9% to $3.7 trillion while DBs gained 7.9% to $6.6 trillion.

"Each year, this survey drives home the point that the money being saved for retirement in the U.S. is among the largest pools of invested assets anywhere in the world," said Amy B. Resnick, editor of Pensions & Investments. "The importance of this money to individuals and the global economy can't be underestimated."

The country's largest retirement plan, the Federal Thrift Savings Plan, Washington, the defined contribution plan for federal employees reported $531.49 billion in assets as of Sept. 30, a gain of 9.5%. TSP, which was created in 1986, is 57.8% larger than second place California Public Employees' Retirement System.