Fidelity Investments has reported that average participant balances in its 401(k) plans are at their highest since 1999 and that average plan participation rates stabilized after a few years of slight declines.
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Data from the sixth edition of Building Futures, an analysis of nearly 8.6 million participants in the roughly 10,800 corporate defined contribution plans served by Fidelity at the end of 2004, revealed a 10% increase in average 401(k) participant account balances, to $61,000, from $55,000 the year before, the company said on Thursday.
Average workplace plan participation rates remained level, with 66% of eligible workers contributing in 2004 and 2003.
