The Republican lawsuit targets reinsurance that helps insurance companies provide universal coverage without accounting for pre-existing conditions.
February 2014, Boston. The individual retirement account (IRA) market will account for just over 35% of total retirement market assets by the end of 2018, according to global analytics firm Cerulli Associates.
"The lack of widespread use of in-plan retirement income solutions means assets accumulating in a defined contribution (DC) plan will eventually shift to an IRA," states Bing Waldert, director at Cerulli.
Cerulli's latest report, Retirement Markets 2013: Data & Dynamics of Employer-Sponsored Plans examines the size and segmentation of public and private U.S. retirement markets, including defined benefit (DB), DC, and IRA. The report is the eleventh in an annual series.
"We anticipate the market reaching $9 trillion by 2018," Waldert continues. "The DB market continues to lose marketshare as DC plans garner more adoption and IRAs capture DC rollovers."
IRA growth is attributed to an aging population that will continue to shift assets from their employer-sponsored plans to the IRA segment. As participants retire from the workforce, early communication regarding withdrawal options is essential in order for the plan provider to retain assets upon separation.