Across public and private defined benefit (DB) and defined
contribution (DC) plans total assets grew 8% from $17.6 trillion in 2014 to
$19.1 trillion in 2016, according to data from The Federal Reserve.
Total financial assets in DC plans were $6.7 trillion in 2016, up 10% from $6.1 trillion in 2014. Private DC plan assets in 2016 were $5.7 trillion, up 9.6% from $5.2 trillion in 2014.
In terms of flows by asset class, for private DC plans, the
most inflows in 2016 were to mutual funds ($24 billion), followed by debt
securities ($22 billion) and corporate and foreign bonds ($12 billion).
For federal government DC plans, their biggest purchases in 2016 were debt and Treasury securities (both at $16 billion) and assets in the Thrift Savings Plan ($12 billion). The biggest purchases of state and local DC plans in 2016 were: unallocated insurance contracts ($8 billion) and miscellaneous assets ($7 billion).