man pushing golden egg up hill Fidelity examined the accounts of 1.64 million individuals who invested in the same 401(k) plan over the past 10 years. (Photo: Shutterstock)

(Bloomberg) –Investors who’ve had 401(k) accounts at Fidelity for a decade saw their average balance increase sixfold to almost $300,000 since the market bottomed after the global financial crisis, the company said.

Workers saving for retirement saw their 401(k) balances crater in the 2008-to-2009 market meltdown. Ten years ago, in the first quarter of 2009, investors had an average account balance of $52,600, according to a report Thursday by the Boston-based firm.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.