Retirement funds hit $16.4 trillion
From Times Wire Services
Americans accumulated a record $16.4 trillion in retirement accounts as of the end of 2006, up 11% from a year earlier, the Investment Company Institute said.
The total included $4.2 trillion in individual retirement accounts, $4.1 trillion in defined contribution accounts such as 401(k)s, $2.3 trillion in company-sponsored pension plans, $4.2 trillion in government pension plans and $1.6 trillion in retirement annuities, the mutual fund industry trade group said.
