Year-end level from ICI Factbook, table IRA Assets, column Life insurance companies, less special tabulation from ICI of IRA variable annuity assets. Other quarter's levels from ICI unpublished detail. Flows are calculated as the difference in the levels less FOF estimate of capital gains on IRA assets at life insurers, which is a percentage of the capital gain on equities in life insurers Separate Accounts. Percentage is equal to estimated IRAs outstanding divided by total annuity reserves. Data for the most recent ten years show no significant seasonality.