Late last year, Fidelity Investments – the nation’s largest 401(k) provider – announced that its average 401(k) balance had hit $75,900 at the end of the third quarter, the highest in the more than a dozen years the company has been tracking the data. The analysis of 12 million accounts among more than 20,000 corporate defined contribution clients showed a 4.2% bump from the end of 2012’s second quarter and an 18% rise over a year.
The good news doesn’t stop there: Annual employee 401(k) contributions grew 7.3% in the past five years, and company matches are up 19% since the third quarter of 2007, Fidelity reports.
