401(k) plan balances move little in first quarter
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Employees' 401(k) plan account balances dipped slightly at the end of the first quarter of 2016, Fidelity Investments said in an analysis released Friday.
Benefits dashboard
The average account balance was $87,300 as of March 31, compared with an average balance of $87,900 at year-end 2015, a 0.7% decrease — 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, in 2016, the average account balance for employees who have participated in the plans for at least 10 years was $240,700. That's up 2.3% from $235,300 a year ago.
The analysis is based on 21,800 plans with 13.9 million participants.
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