Retirement assets scale new heights |
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October 18, 2007 |
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The Investment Company Institute (ICI) - a national association of SEC-registered investment companies, advisers and underwriters - reported today that the U.S. retirement assets totaled USD 16.6 trillion as of the end of the 1st quarter. Retirement savings accounted for 38% of all household financial assets. This makes March 2007 as a peak point in American retirement savings as retirement assets for 2006 amounted to USD 16.4 trillion. Factored into
the retirement savings growth, Individual Retirement Accounts
(IRAs) grew from USD 4.2 trillion in 1Q06 to USD 4.4 trillion
in 1Q07 and Defined Contribution Plans (DCPs) rose from USD
4.1 trillion to USD 4.2 trillion in the same period. Other categories
totals witnessed no change from 2006 levels with government pension
plans at USD 4.2 trillion, private benefit plans at USD 2.3 trillion
and annuities at USD 1.3 trillion. The ICI reported that long-term
funds including equity, hybrid and bond mutual funds remained the
most widely-used method of holding mutual fund assets. 47% of investors
used them as a retirement savings method. Money market funds attributed
for 13% of savings plans and other funds represented for 39%.
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| Words of Wisdom |  |
Know Us |
To
think creatively, we must be able to look afresh at what we normally
take for granted
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To
know more about Epitome Global Services visit us at:
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| George
Kneller |
www.epitomeglobalservices.com |
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