Retirement Assets Declined in 2001
Wall Street Journal (07/01/02) p.C17; Lucchetti, Aaron

Last year saw retirement investments suffer as stocks fell, but investors persisted in adding to their retirement assets, placing an estimated $140 billion into defined contribution plans and individual retirement accounts, according to the Investment Company Institute, and they are continuing their saving this year. Investors put $72.1 billion into stock funds during the first five months of 2002, almost twice the total of the same period last year, even though the average U.S. diversified stock fund has lost more than 12 percent of its value during the first half of 2002, according to Lipper Inc. The institute says that mutual funds had 21 percent of the total retirement asset market at 2001's end, with defined contribution plans holding 23 percent, IRAs 22 percent, defined benefit plans 45 percent, and 11 percent held by private pension plans, fixed and variable annuities, and 457 plans.

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