Fidelity: 401(k) average balance grows 4 pct in 3Q

Associated Press Published: November 7, 2012
Advertisement
;

BOSTON (AP) — The nation's largest administrator of 401(k) plans says account balances grew an average 4 percent in the last quarter. That's due to a rising stock market, as well as increased contributions from workers and their employers.

Fidelity Investments said on Thursday that the average balance among the 12 million accounts it administers was $75,900 as of the end of September. That's up from $72,800 at the end of June.

The latest quarter's figure is the largest since Fidelity began tracking account averages 12 years ago.

Stocks rose nearly 6 percent in the latest quarter, boosting investment returns in 401(k)s. The accounts typically hold a mix of stocks and bonds.

Account contributions from employees' paycheck deductions also rose in the latest quarter, as did matching contributions from their employers.



Trending Now


AROUND THE WEB

  1. 1
    10 Most Popular Wedding 'First Dance' Songs
  2. 2
    Psychologists Studied the Most Uptight States in America, and Found a Striking Pattern
  3. 3
    Facebook Post Saves Drowning Teen
  4. 4
    Saturday's front page of the New York Times sports section is simple: LeBron James and transactions
  5. 5
    The 19th-century health scare that told women to worry about "bicycle face"
+ show more