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February 15, 2013

401(k) balances grew 12% in 2012: Fidelity

  • Average balances were $143,300 for workers 55 and older; $120,400 for baby boomers; $59,100 for Gen Xers; and $15,400 for Gen Yers.
    • By MARK JEWELL
    AP Personal Finance Writer

    BOSTON — Employee 401(k) accounts are growing fast, thanks to the surging stock market and increased contributions from workers and their employers.

    The average account balance grew nearly 12 percent last year, Fidelity Investments said on Thursday. The average was $77,300 at the end of 2012, up from $69,100 a year earlier, according to Fidelity, the nation's largest 401(k) administrator.


     
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