Overall the average 401(k) balance rose to $112,400, up 4% from the first quarter.
And compared to a decade ago, the average balance is 39% higher.
In tracking savings growth over the past year, Fidelity found that the average 401(k) account for Baby Boomers rose 6.3%.
That’s well above the second quarter average — $220,900 — for everyone in that age group.
In the second quarter, Fidelity found that total contribution rates — the employee’s savings plus their employer matches — averaged 13.9% of one’s gross income.
Persons:
Gen Xers, ”, Kevin Barry
Organizations:
New, New York CNN, Fidelity Investments, Fidelity, Boomers
Locations:
New York