09.24.24

Strong Stock Market Pushes Up Annuity Assets

by: Allison Bell

The Investment Company Institute reports that fixed annuity assets fell 4.3%, to $551 billion, but variable annuity assets increased by 6.8%, year over year, to $1.9 trillion. The amount of variable annuity assets held inside individual retirement arrangements and employer-sponsored defined contribution plans increased by 8.6%, to $541 billion, and the amount held outside retirement accounts grew 6.2%, to $1.35 trillion. The amount of assets held in variable annuity stock funds outside of retirement accounts climbed $67 billion.

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