Sign in to comment!

Menu
Home

Economy

Fidelity: Average 401(k) balance grew 12 pct last year as stocks surged, contributions rose

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 12 percent last year, according to Fidelity Investments. The nation's largest 401(k) administrator said Thursday that the year-end average was $77,300, up from $69,100 a year earlier. In the fourth quarter, the average balance rose 2 percent.

About two-thirds of last year's growth was attributed to investment returns and one-third to worker contributions and company matches.

The Standard & Poor's 500 stock index posted a 16 percent return last year, while a broad U.S. bond index rose 4 percent.

The average balance among the 12 million 401(k) accounts that Fidelity administers is at the highest level since it began tracking the data in 2000.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.93% dw 4.15%  
15 Y Fixed Graph 3.03% dw 3.12%  
30 Y Fixed Jumbo Graph 4.19% up 4.18%  
5/1 ARM Graph 3.27% up 3.19%  
5/1 Jumbo ARM Graph 3.14% dw 3.19%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.32% up 4.30%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% dw 5.08%  
$50K Loan Graph 4.49% dw 4.50%  
$75K Loan Graph 4.51% dw 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% -- 2.93%  
36 M Used Graph 3.46% -- 3.46%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 3.04% -- 3.04%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.38% -- 0.38%  
1 yr Graph 0.71% -- 0.71%  
5 yr Graph 1.50% dw 1.52%  

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →