The United States leads the distribution of pension fund assets, followed by Japan and the Netherlands. Most pension assets are held in the public sector and sovereign funds, with the leading pension funds being the Government Pension Investment in Japan and the Government Pension Fund in Norway. The top 300 funds have a value of assets amounting to over 18 trillion U.S. dollars, with over half belonging to private pension funds in the United States.
The most popular defined benefit retirement plan in the United States is the 401(k) plan, but there are other defined contribution plans, including Individual Retirement Accounts. Globally, reserve funds are also important pension funds, but there is no significant interest in these in the United States. However, federal government retirement funds and state and local government funds in the U.S. manage a significant amount of assets. Mutual funds manage both DC plans and IRAs.