IRA and Keogh Assets Grew by 6 Percent During 1994

Abstract

Total assets held in individual retirement accounts (IRAs) and Keogh plans (retirement plans for the self-employed) reached a high of $974.8 billion as of year-end 1994 (table 3). Between 1985 and 1994, total assets held in IRAs and Keogh plans increased 327 percent. During 1994, IRA and Keogh assets grew 6 percent, compared with a growth rate of 18.9 percent between 1992 and 1993, and an average annual growth rate of 22.2 percent between 1985 and 1994. Most of the recent growth was due to rollovers from qualified retirement plans. However, if current proposals to expand IRA eligibility are implemented, future growth rates in IRA and Keogh assets could rise.