U.S. Retirement Assets: Data in Brief (CRS Report for Congress)
| Release Date |
Sept. 20, 2023 |
| Report Number |
R47699 |
| Report Type |
Report |
| Authors |
John J. Topoleski; John H. Gorman; Elizabeth A. Myers |
| Source Agency |
Congressional Research Service |
Summary:
The Federal Reserve’s Financial Accounts of the United States provides data on the amount of
retirement assets in the United States. Retirement assets are held in pension plans sponsored by
employers and in Individual Retirement Accounts (IRAs). As of December 31, 2022, a total of
$37.8 trillion was held in U.S. retirement plans and accounts, of which $26.3 trillion was in
employer-sponsored plans and $11.5 trillion was in IRAs. Retirement plan holdings include a
variety of financial assets, including equities, securities, debt, mutual funds, claims on owed
sponsor contributions, and other financial assets.
Employer-sponsored plans are classified as either defined benefit (DB) or defined contribution
(DC) plans and are sponsored by private employers, the federal government, or state and local
governments. In 2022, and in most years, a majority of DB holdings were held by governmentsponsored plans. A majority of DC holdings were held by private employer-sponsored plans.
From 2013 to 2022, total real (inflation-adjusted) retirement assets increased by $4.4 trillion
(13.3%). Total real retirement assets peaked at $44.3 trillion in 2021. The growth in IRA assets
contributed most to retirement asset growth with a $2.8 trillion real increase from 2013 to 2022. DC plans sponsored by the
federal government grew by the greatest percentage rate at 43.4%. Holdings of financial assets by private sector DB, federal
DB, and state and local DC plans all decreased in inflation-adjusted terms from 2013 to 2022.
