Retirement assets in the US reached an all-time record in 2005, bringing in over $14.5 trillion.
In a new study by the Investment Company Institute released Monday, the institute says the new record marks a 7% increase over 2004 and a 40% over 2002.Amid the first wave of Baby Boomers who are reaching retirement age, retirement assets now account for about 33% of household financial assets.
The report also says that mutual funds continue to serve as popular stewards of retirement assets, comprising about $3.4 trillion of the total amount. Funds now manage 48% of assets in DC plans and 45% of IRA assets.