Share “News Summary: Fidelity 401(k)s grew 4 pct...”

News Summary: Fidelity 401(k)s grew 4 pct in 3Q

Associated Press Published: November 7, 2012
Advertisement

401(k) BALANCES GROW: Fidelity Investments says the average 401(k) account balance among its accountholders rose to $75,900 at the end of September. That's up 4 percent from the average three months earlier, according to the nation's biggest 401(k) administrator.

RISING MARKET: Stocks rose nearly 6 percent during the July to September period, boosting investment returns in 401(k)s. The gain helped investors recover from a nearly 3 percent market decline in the previous quarter.

RISING CONTRIBUTIONS: The average account balance also rose because contributions from employees' paycheck deductions increased in the latest quarter, as did matching contributions from employers.