Fidelity: 401(k) balances up more than 10%

  @melhicken August 27, 2013: 12:48 AM ET
How 401(k) fees eat away at your savings

Average 401(k) balances were up more than 10% during the second quarter, despite a bumpy stock market that left many investors on edge.

Fidelity Investment's average 401(k) balance came in at $80,600 at the end of the second quarter of 2013 -- up more than 10% from the same time last year, according to a report released Tuesday by Fidelity, which represents 12.4 million U.S. workers.

Related: Don't panic! Selling now could hurt your nest egg

It's been a strong year for 401(k)s. The markets had an especially rocky June, but all three major indexes still had a solid second quarter, recording gains of between 2% and 5%.

Those who have been consistent with socking away money for retirement are even better off, according to Fidelity.

Employees who have been employed and in a 401(k) plan for the last 10 years had average balances of $211,800 at the end of June, up nearly 19% from a year ago, according to the report. To top of page

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