WITHDRAWALS ARE SUSPECT: Fed data show first dip in defined contribution assets.(United States Federal Reserve Board)(Brief Article)(Statistical Data Included)

Pensions & Investments, March, 2001 by Anand, Vineeta

WASHINGTON - After surging for more than a decade, defined contribution plan assets fell last year for the first time. According to the latest data from the Federal Reserve Board, it estimates defined contribution plan assets dropped to $2.52 trillion last year, down 0.4% from $2.53 trillion in 1999.

The data suggest retirement plan assets might not be growing as fast as previously estimated, in large part because of the runoff of money from private defined contribution plans. Overall, the Federal Reserve estimates total pension fund assets, including defined contribution plans, reached $9.84 trillion at the end of 2000, up slightly from the $9.74 trillion estimated in 1999. The Federal Reserve previously had estimated total pension assets would hit $10...

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