Fidelity Says 401(k) Balances Hit Record $155,800 in Q2 as Savings Rates Hold at 14.4%
Updated
Updated · Yahoo Finance · Sep 6
Fidelity Says 401(k) Balances Hit Record $155,800 in Q2 as Savings Rates Hold at 14.4%
3 articles · Updated · Yahoo Finance · Sep 6
Summary
Average 401(k) balances rose 11% from Q1 to a record $155,800 in Q2, while 403(b) balances climbed 12% to $145,000 and IRAs gained 10%, Fidelity said.
A strong stock market drove the rebound after a slight first-quarter dip, lifting workplace retirement accounts despite worries about an AI bubble and an uncertain economy.
Savings behavior still shaped outcomes: 401(k) savers' total average savings rate held at 14.4%, and 81% contributed enough to capture their full employer match.
IRA holders, who lack employer matching, increased contributions 36% from a year earlier, underscoring how contribution levels can widen gaps even as balances reach records.
The gains came as 55% of workers said they were very or extremely concerned about the economy, citing living costs, geopolitics and job security.