Fidelity Investments reported its average 401(k) balance rose to $74,600 at the end of the first quarter, up 8% from the end of fourth-quarter 2011.
Reported byRebecca Moore
The first-quarter balance also represents a 62% increase since the end of first-quarter 2009, often considered the low of the 2008 to 2009 market downturn, when the average balance was $46,200. Fidelity’s 401(k) savings analysis is based on its participant base of 11.8 million accounts. Strong stock market performance in the first quarter accounted for approximately 80% of the account balance growth, with the other 20% attributed to both participant and employer contributions.