Chicago, April 2, 2014—Following a very strong equity market in 2013, retirement assets at year-end were the highest on record. Total retirement assets grew to $19.018 trillion in 2013 compared to $16.3 trillion at year-end 2012, according to the Retirement Market Insights Report 2014 by Spectrem Group.
In 2013, retirement assets (in billions) were distributed across:
- Private sector: $7,855.2
- Individual Retirement Plans (IRAs): $6,201.6
- Public sector: $3,975.4
- 403(b) Plans: $985.4
“It appears that the impact of the financial crisis of 2008-2009 has finally been overcome,” says George H. Walper, Jr., president of Spectrem Group. “Plan sponsors who reduced or eliminated matching contributions at that time have largely restored them, and participants maintained their commitment by continuing to contribute to their plans. These developments, combined with the strong investment market of the past year, generated the highest year-end retirement assets on record.”
The fact that these strong results were seen across all sectors of the retirement market bodes well for the future retirement security of American workers.
Additional insights from the Retirement Market Insights Report 2014, including retirement gap findings and retirees’ largest expenses, are available at Spectrem.com and Spectrem’s Millionaire Corner (www.MillionaireCorner.com).
Spectrem Group's 2014 Retirement Market Insights report is based on periodic surveys with retirement plan sponsors and participants as well as publicly available data.
About Spectrem Group
Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.
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