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401(k) balances down 23% in 2022: Fidelity

Posted On: Dec. 19, 2022 9:35 AM CST

Average 401(k) balances have dropped 22.9% as of the end of the third quarter, compared to the same point in 2021, according to a Fidelity Investments Inc. analysis of 24,500 corporate retirement accounts, reports U.S. News & World Report. At the end of the third quarter of 2021, the average 401(k) account balance was $126,100 and 12 months later, the figure is $97,200, according to Fidelity’s research.