The average IRA balance rose to $119,804 in 2013, an increase of 30.4 percent from 2010, and 14.1 percent from 2012, according to new data from the Employee Benefit Research Institute.

Median, or mid-point balances, followed the same pattern, according to the EBRI, rising to $32,179 in 2013, up 27.2 percent from 2010, and 15 percent from 2012.

Predictably, researchers at the nonprofit expect IRA balances to continue to rise as more baby boomers retire and rollover workplace savings plans.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.