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Pension and Employee Benefits: Code, ERISA, & Regulations
This series provides an authoritative and comprehensive reference to the full text of benefits-related provisions of the Internal Revenue Code, the full text of ERISA, and related proposed and final regulations, as well as the official IRS and DOL preambles, and Committee Reports.
from Spencer’s Benefits Reports: By the end of the first quarter of 2010, total retirement account balances had rebounded to $7.9 trillion, versus $5.9 trillion a year earlier. About three-fifths of this increase was directly related to stock gains, according to the Urban Institute in its July 2010 Fact Sheet on Retirement Policy.
However, the Urban Institute estimates that total retirement accounts will decline to $7.5 trillion at the end of the second quarter of 2010 because of declines in the stock market.
The second quarter of 2008 was the last time total retirement account balances equaled or exceeded $7.9 trillion. The high water mark for retirement account balances was $8.7 trillion at the end of the third quarter of 2007.
The Urban Institute compiled statistics on defined contribution plan and IRA retirement accounts from the 2010 Flow of Funds Accounts of the United States and the Russell 3000 Index. For more information, visit http://www.RetirementPolicy.org.
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
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