Record Retirement Assets Underscore Strength of DC System
US households had a record $49.1 trillion earmarked for retirement at year-end 2025—up 11% from year-end 2024, according to the just-released 2026 edition of the Investment Company Fact Book, a compendium of the research and analysis conducted by the Investment Company Institute over the previous year with facts and data about the asset management industry in the United States and across the globe.
The largest components of retirement assets were employer-sponsored DC plans (including 401(k) plans) and IRAs, which together represented 68% of all retirement market assets at year-end 2025. The Fact Book reveals that 74% of US households have some tax-advantaged retirement savings. In 2022, more than three-quarters of near-retiree households had accrued benefits in employer-sponsored retirement plans (DB & DC plans sponsored by private-sector and government employers or IRAs).
At the end of 2025, employer-sponsored DC plans—including 401(k)s, 403(b)s, 457 plans, the federal Thrift Savings Plan (TSP) and other private-sector DC plans—held an estimated $14.2 trillion in assets. 401(k)s hold the largest share of that with $10.1 trillion at year-end 2025. 403(b) plans held another $1.5 trillion.
The 2026 Fact Book notes that retirement assets have grown significantly over the past five decades, even when adjusted for inflation and growth in the number of households in the US. At year-end 2025, average assets earmarked for retirement per household, adjusted for inflation, were more than nine times their level at year-end 1975.
At age 72, either directly or through a spouse, the Fact Book found 97% of Americans received Social Security benefits and 75% received retirement income from employer-sponsored retirement plans, annuities and/or IRAs. Nearly half (48%) had Social Security benefits and retirement income (but no labor income), and more than one-quarter had all three.
More Fact Book DC data
• 401(k) plans had nearly 70 million active participants as of year-end 2025.
• 92% of 401(k) plans offer employer matching contributions.
• As of year-end 2023, 71% of 401(k) plan participants held target-date funds.
• 77% have access to plan loans. Analysis of ICI/EBRI 401(k) data finds 12% of DC plan participants had loans outstanding and outstanding loan balances averaged 9% of the remaining 401(k) account balance at year-end 2023. Department of Labor data indicate the outstanding loan amounts were 1% of 401(k) plan assets in 2023.
• 83% of DC plan participants agree that their plan offers a good lineup of investment options. 401(k) plans offer 29 investments options on average, typically including domestic equity funds, international equity funds, domestic bond funds, and target-date funds.
• 97% of 401(k) participants held at least some equities in their accounts at year-end 2023, according to research conducted by ICI and the Employee Benefit Research Institute.
New edition showcases broad array of fund industry statistics
Since 1960, ICI said in a press release today that the Fact Book has served as the most comprehensive source of facts and data about the asset management industry in the United States and across the globe.
“ICI’s Fact Book is the No. 1 resource for industry leaders, policymakers, and regulators looking to understand the depth and breadth of the fund industry. “This work reflects the commitment of ICI’s staff to delivering top-quality research and insights that inform and strengthen the industry,” said ICI President and CEO Eric J. Pan.
“ICI’s latest edition of Fact Book provides readers with an indispensable source of data and analysis from our expert team,” added ICI Chief Economist Shelly Antoniewicz. “It underscores the industry’s continued innovation, including declining expense ratios and expanded access to retirement plans, helping more investors build long-term financial security.”
Check out the 2026 edition of the Investment Company Fact Book here.
SEE ALSO:
• New 401k Averages Book Finds Plan Fees Still Falling, Cost Disparities Persist
• Target Date Fund Assets Surge to $4.8T as CITs Gain Market Share
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.