At a Glance | March 28, 2019 Individual Retirement Accounts: Changes in IRA Balances of Older Owners Over Time EVIDENCE THAT OLDER IRA The Share of IRAs Going to Zero or Being Closed Sharply Increases 1 OWNERS MAINTAIN BALANCES for Those With Owners Ages 85 or Older OVER TIME Of the IRAs owned by those Percentage of IRAs From 2012 That Still Had Percentage of IRAs That a Positive Balance at the End of 2015 Went to Zero or Were Closed ages 60 or older, slightly over 80 percent still had positive IRAs Owned by 1 81% 19% balances after three years. Those Ages 60+ They weren’t closed or depleted. Ages 60–64 82% 18% Of the IRAs owned by those Ages 65–70 82% 18% ages 60 to 84 in 2012, approximately 80 percent still Ages 71–74 had positive balances three 83% 17% years later. Only when owners Ages 75–84 reached ages 85 or older did a 79% 21% significantly higher percentage Ages 85+ of accounts fail to have a 63% 37% positive balance after three 1 years. OLDER OWNERS GROW ASSETS Median Percentage Change in A Majority of IRAs Owned by Those UNTIL REACHING AGE 85 Account Balances Ages 60 to 84 Had Balance Increases Two-thirds of older IRA owners with open accounts actually Percentage Change Balance Balance grew their balances between in Account Balances Decreased Increased 2012 and 2015: the median +12% 32% 68% IRAs Owned by three-year balance change was Those Ages 60+ 12 percent. 21% 79% +21% Ages 60–64 The opposite was true for 28% 72% +14% Ages 65–70 accounts of IRA owners ages 85 41% 59% or older: two-thirds were +4% Ages 71–74 depleted over the period, at a 48% 52% +1% Ages 75–84 median rate of -6 percent. 63% 37% -6% Ages 85+ By 2015, the proportion of IRAs that were still open that had a balance below their 2012 amount was just under a third. More than two-thirds of these had increases in their balances. SOURCE: Craig Copeland. “Individual Retirement Accounts: How Balances of Older Account Owners Change Over Time.” EBRI Issue Brief, no. 477 (Employee Benefit Research Institute, March 21, 2019). 1. 2012 to 2015. © 2019 EBRI