BOSTON (AP) — Employee 401(k) accounts are growing fast, thanks to the surging stock market and increased contributions from workers and their employers.
The average account balance grew nearly 12 percent last year, Fidelity Investments said on Thursday. The average was $77,300 at the end of 2012, up from $69,100 a year earlier, according to Fidelity, the nation's largest 401(k) administrator.
The average balance is up sharply since the stock market hit bottom in early 2009, following the financial crisis. Back then, the average was $46,200.
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