Employee 401(k) balances dip but hover near record levelsReprints
Employees' 401(k) plan account balances dipped at the end of the second quarter of 2015 yet remain near a record high, Fidelity Investments said in an analysis released Thursday.
The average account balance was $91,100 as of June 30, a slight drop from the record account balance of $91,800 as of March 31, the Boston-based mutual fund provider and 401(k) plan administrator said.
Not surprisingly, account balances were much higher for employees who have participated in 401(k) plans for many years.
For example, at the end of the second quarter, the average account balance for employees who have participated in the plans for at least 10 years was $250,200. That's a slight drop compared with the average account balance of $251,700 at the end of the first quarter, but up more than 8% compared with the average account balance of $231,100 at the end of the second quarter in 2014.
The analysis is based on 21,200 Fidelity-administered plans with 13.5 million participants.