Average 401(k) Account Balances Reach 10-Year High
By: Newsroom Solutions
Updated: February 24, 2011
The average balances in 401(k) retirement plans reached a 10-year high at the end of last year.
That's according to a new report from Fidelity Investments, which attributed the increase to workers continuing to save and the market rebounding.
The Fidelity report says the average account balance rose to more than 71-thousand-dollars in 2010, up about eleven-percent from the end of 2009.
That compares with an average balance of over 54-thousand in the fourth quarter of 2000.
Fidelity, which is the nation's largest provider of 401(k)s, has eleven-million participants in almost 17-thousand employer-sponsored contribution plans.
That's according to a new report from Fidelity Investments, which attributed the increase to workers continuing to save and the market rebounding.
The Fidelity report says the average account balance rose to more than 71-thousand-dollars in 2010, up about eleven-percent from the end of 2009.
That compares with an average balance of over 54-thousand in the fourth quarter of 2000.
Fidelity, which is the nation's largest provider of 401(k)s, has eleven-million participants in almost 17-thousand employer-sponsored contribution plans.
Comments
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synthia p.
May 23, 2011 at 8:06 am
