Fidelity® Q1 2024 Retirement Analysis: Record-High Contribution Levels Help Propel Retirement Balances to Highest Levels in More Than Two Years
2024年5月23日 - 10:00PM
ビジネスワイヤ(英語)
- 401(k) Savings Rates Reach Record High
- Small Business Retirement Savers Surpass
Account Balances of Traditional 401(k) Holders
According to the latest retirement data from Fidelity
Investments®’ Q1 2024 retirement analysis, record-high contribution
levels coupled with positive market conditions pushed average
account balances to their highest levels since the fourth quarter
of 2021. Long-term savers observed the greatest improvement, which
is good news, especially for the more than 4.9 million workers that
have been in their 401(k) plan for five years or more.
“We are encouraged to see account balances increase, providing
solid proof that retirement savers are remaining invested and
continuing to make steady contributions – while seeing the
financial benefits as a result,” said Sharon Brovelli, president of
Workplace Investing at Fidelity Investments. “With continued
participation across generations and income levels, retirement
savers will continue to build better financial futures, which is
essential to the financial health of so many Americans and our
economy.”
In honor of Small Business Month, this quarter’s retirement
analysis also focused on retirement savers employed by small
businesses, who are also demonstrating impressive savings
behaviors. In fact, Fidelity’s small business data shows the
average account balances of those with a SEP IRA, SIMPLE IRA, or
Self-Employed 401(k) are surpassing those of traditional 401(k)
holders.
“Small businesses are at the heart of American communities and
it is encouraging to see that when small business employees are
given the opportunity to save, they run with it,” says Roger
Stiles, president of Fidelity Wealth. “Offering small businesses a
variety of options to help meet their retirement needs is an
important way to close any existing retirement coverage gaps and
get more Americans saving for retirement.”
As one of the country’s leading workplace benefits providers1
and America’s No. 1 IRA provider2, go here to see Fidelity’s latest
analysis of savings behaviors and account balances for more than 45
million IRA3, 401(k)4, and 403(b)5 retirement accounts. Additional
details and insight on retirement trends and data can be found in
Fidelity’s latest quarterly edition of “Building Financial Futures”
as well as the Workplace Insights hub, which explores original
research, data-driven insights, and the latest industry trends.
About Fidelity Investments Fidelity’s mission is to
strengthen the financial well-being of our customers and deliver
better outcomes for the clients and businesses we serve. Fidelity’s
strength comes from the scale of our diversified, market-leading
financial services businesses that serve individuals, families,
employers, wealth management firms, and institutions. With assets
under administration of $13.7 trillion, including discretionary
assets of $5.3 trillion as of March 31, 2024, we focus on meeting
the unique needs of a broad and growing customer base. Privately
held for 78 years, Fidelity employs more than 75,000 associates
across the United States, Ireland, and India. For more information
about Fidelity Investments, visit
https://www.fidelity.com/about-fidelity/our-company.
Keep in mind that investing involves risk,
including the risk of loss. The value of your investment will
fluctuate over time, and you may gain or lose money.
Past performance is no guarantee of future
results.
Views expressed are of the date indicated,
based on the information available at that time, and may change
based on market or other conditions. Fidelity does not assume any
duty to update any of the information.
# # #
Fidelity Brokerage Services LLC, Member NYSE,
SIPC 900 Salem Street, Smithfield, RI 02917
Fidelity Distributors Company LLC, 900 Salem
Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE,
SIPC, 245 Summer Street, Boston, MA 02110
1147522.1.0 © 2024 FMR LLC. All rights reserved
1 Based on PLANSPONSOR Magazine's “2023 Recordkeeping Survey,”
June 2023 and “Plan Administration Guide, Part 1” which offers
insight into the provider marketplace for defined benefit (DB),
stock plan and health savings account (HSA) administration, May
2018. 2 Based on Cerulli Associates’ Top-10 IRA Providers by AUA,
2Q 2021–2Q 2023. 3 Fidelity business analysis of 15.3 million IRA
accounts as of March 31, 2024. Considers only active participants
with balance. 4 Fidelity Investments Q1 2024 401(k) data based on
25,800 corporate defined contribution plans and 23.9 million
participants as of March 31, 2024. These figures include the
advisor-sold market but exclude the tax-exempt market. Excluded
from the behavioral statistics are non-qualified defined
contribution plans and plans for Fidelity’s own employees. 5
Fidelity Investments Q1 2024 403(b) data based on 10,055 Tax-exempt
plans and 8.6 million plan participants as of March 31, 2024.
Considers average balance across all active plans for 6.33 million
unique individuals employed in tax-exempt market.
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version on businesswire.com: https://www.businesswire.com/news/home/20240523623716/en/
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