So You Think You Know A Lot About IRAs?
By Ian Berger, JD
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The Investment Company Institute (ICI) is an association representing mutual fund companies and similar investment companies. Recently, the ICI issued the results of a survey on traditional and Roth IRAs. The full reports are available at: ici.org/system/files/2022-07/ten-facts-iras.pdf and ici.org/system/files/2022-07/ten-facts-roth-iras.pdf.
See how well you know IRAs:
1. At year-end 2021, what percentage of all U.S. retirement accounts were held in IRAs?
2. At year-end 2021, what were the total assets held in IRAs (including traditional and Roth IRAs, SEP IRAs and SIMPLE IRAs)?
A. $13.9 billion
B. $50,9 billion
C. $13.9 trillion
D. $50.9 trillion
3. At year-end 2021, what percentage of total IRA assets were held in Roth IRAs?
4. At year-end 2021, what percentage of U.S. households held IRAs (including traditional and Roth IRAs, SEP IRAs and SIMPLE IRAs)?
5. True or False? At year-end 2018, only 20% of IRA owners held Roth IRA accounts.
6. At year-end 2018, what was the largest category of traditional and Roth IRA investments?
A. Bonds and bond funds
B. Target-date funds
C. Money market funds
D. Stocks and stock funds
7. For 2017, what percentage of traditional IRA owners made an annual traditional IRA contribution?
8. True or False? In 2021, 57% of traditional IRA accounts contained rollovers from employer-sponsored retirement plans.
9. In 2021, what percentage of traditional IRA owners consulted with a financial advisor about rolling over company plan accounts into a traditional IRA?
10. True or False? Roth IRA owners tend to be younger than traditional IRA owners.
1. B 6. D
2. C 7. A
3. B 8. True
4. B 9. D
5. False. The correct answer is 35% 10. True
or 39% (depending on which
data are used).
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