Photo: Florida Association od Senior centres

We mentioned this earlier, but just wanted to emphasise this number.$13.02 trillion is the amount Americans have in pension fund reserves, according to the just-released Fed flow of funds data.

That brings it very close to the peak seen in 2007.

A big part of the jump from Q3 — when it stood at $12.3 trillion — was related to the rise in stock prices, but what’s interesting is that while this number nears old highs, Americans’ ownership of plain old vanilla stocks, which is at $8.5 trillion, remains well below the $9.6 trillion record hit in the middle of the last decade.

The difference is demographics. Money continue to gets socked into pension-related assets.

It’s not a huge surprise, then, why there’s such a huge fight happening, particularly over the government portion of the reserves, which currently total $4.5 trillion.

Click here to see the 11 state pension funds most likely to go broke >

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