Retirement Data: Fidelity Plan Balances Q1 2021

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Source: Fidelity 

From Fidelity's press release published on May 13, 2021:

• Retirement accounts reach record levels for the second consecutive quarter. The average IRA balance was $130,000, a 1% increase from last quarter but a 31% increase from Q1 2020. The average 401(k) balance increased to $123,900 in Q1, a 2% increase from Q4 and up 36% from a year ago. The average 403(b) account balance increased to a record $107,300, an increase of 1% from last quarter and 42% higher than in Q1 2020. 

Retirement Data: Fidelity Plan Balances Q4 2020

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Source: Fidelity 

From Fidelity's press release published on February 18, 2021: 

• Retirement accounts reach record levels in Q4. The average IRA balance was $128,100, a 9% increase from last quarter and 11% higher than average balance of $115,400 a year ago. The average 401(k) balance increased to $121,500 in Q4, an 11% increase from Q3 and up from 8% from a year ago. The average 403(b) account balance increased to a record $106,100, an increase of 10% from last quarter and the first time the average TEM balance has reached six figures. 

Retirement Data: Fidelity Plan Balances Q3 2020

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Source: Fidelity

From Fidelity's press release published on November 12, 2020:

• Retirement accounts increase slightly in Q3. The average IRA balance was $117,700, a 6% increase from last quarter and 7% higher than the average balance of $110,200 a year ago. The average 401(k) balance increased to $109,600 in Q3, a 5% increase from Q2 and up from 4% from a year ago. The average 403(b) account balance increased to $96,100, an increase of 5% from last quarter and up 9% from a year ago. 

Retirement Data: Fidelity Plan Balances Q2 2020

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Source: Fidelity

From Fidelity's press release posted August 11, 2020:

• The average IRA balance was $111,500, a 13% increase from last quarter and slightly higher than the average balance of $110,400 a year ago. The average 401(k) balance increased to $104,400 in Q2, a 14% increase from Q1 but down 2% from a year ago. The average 403(b) account balance increased to $91,100, an increase of 17% from last quarter and up 3% from a year ago.

Retirement Data: Fidelity Plan Balances Q1 2020

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Source: Fidelity

Fidelity Investments has over 30 million 401(k), IRA and 403(b) retirement accounts. This makes them uniquely positioned to describe the retirement savings trends of investors.

From Fidelity's press release posted April 24, 2020:

• Market downturn caused average 401(k), IRA and 403(b) balances to drop. The average 401(k) balance was $91,400, down 19% from the record high of $112,300 in Q4 2019, but still higher than Q1 2010 balance of $71,500. The average IRA balance was $98,900, a 14% decrease from last quarter but higher than the Q1 2010 balance of $66,200. The average 403(b)/tax exempt account balance was $75,700, down 19% from last quarter but still above the average balance of $50,000 in Q1 2010.

Retirement Data: Fidelity Plan Balances Q4 2019

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Source: Fidelity

From Fidelity's press release on February 13, 2020:

• Average 401(k), IRA and 403(b) balances increased to record levels. The average 401(k) balance rose to $112,300, a new record high and a 7% increase from last quarter’s balance of $105,200. The year-over-year average balance increased 17% from $95,600 in Q4 2018; the average IRA balance also rose to a record $115,400, a 5% increase from last quarter and 17% higher than the $98,400 balance one year ago. The average 403(b)/tax exempt account balance increased to $93,100, up 6% from last quarter and an increase of 18% from Q4 2018.

Retirement Data - Fidelity and Transamerica Retirement Updates

If you're wondering how American households are doing saving for retirement, please read two recent reports issued by Fidelity and Transamerica examining retirement preparedness in the United States. Transamerica published their findings from their 19th Annual Transamerica Retirement Survey of Workers in December 2019 and Fidelity published their Retirement Savings Assessment in January 2020.

Retirement Data: Fidelity Plan Balances Q3 2019

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Source: Fidelity

From Fidelity's press release on November 14, 2019:

• Average 401(k), IRA and 403(b) balances decreased slightly in Q3 2019. The average 401(k) balance dipped to $105,200, less than a 1% decrease from $106,000 in Q2 2019. The year-over-year average balance is down just over 1% from a record high balance of $106,500 in Q3 2018. The average IRA balance dropped slightly to $110,200, less than half a percentage point from last quarter and less than 1% lower than the $111,000 balance one year ago. The average 403(b)/tax exempt account balance dipped to $88,000, less than a 1% decrease from last quarter but up slightly from Q3 2018.

Retirement Data: Fidelity Plan Balances Q2 2019

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Source: Fidelity

On August 21, 2019 Fidelity released its quarterly analysis of retirement savings trends, including account balances, contributions and savings behaviors, across more than 30 million retirement accounts. Average account balances continued to increase in the second quarter, reaching near-record levels after experiencing a dip at the end of 2018. Here are some findings from their press release:

Retirement Data: Vanguard How America Saves

The following is from Vanguard's press release:

The 18th edition of How America Saves delivers a comprehensive analysis of the retirement savings behavior of 5 million participants in about 1,900 defined contribution (DC) retirement plans for which Vanguard provides recordkeeping services. Our data-rich report examines trends in how participants accumulate, manage, and access retirement savings.

2019 edition highlights

• 6 of 10 Vanguard participants were invested in a professionally managed allocation at year-end 2018. The growing use of target-date funds continues to drive this trend. 

Retirement Data: Fidelity Plan Balances Q1 2019

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Source: Fidelity

Fidelity recently released their Q1 2019 Retirement Account Balances press release. I focus on these numbers because of Fidelity's size. They have $7.4 trillion in client assets, including more than 30 million retirement accounts. Here are a few items to highlight from their press release:

• As of Q1 2019, 52% of individuals had all of their 401(k) savings in a target date fund, compared with just 16% in Q1 2009. In addition, a much lower percentage of individuals had all of their 401(k) savings in stocks -- only 7% of individuals had an all-stock 401(k), compared with 15% who had an all-stock 401(k) allocation in Q1 2009.

EBRI Retirement Confidence Survey 2019

Now in its 29th year, the annual Retirement Confidence Survey(RCS) is the longest-running survey of its kind, measuring worker and retiree confidence about retirement. It is conducted by the Employee Benefit Research Institute (EBRI) and independent research firm Greenwald & Associates. From the report: "The 2019 Retirement Confidence Survey (RCS) finds that two-thirds of American workers (67 percent) feel confident in their ability to retire comfortably, though only 23 percent feel very confident. The share of workers reporting that they feel either very or somewhat confident has increased compared with last year (67 percent vs. 64 percent in 2018). Worker confidence now resembles the levels measured in 2007 before the financial crisis of 2008."

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Source: EBRI, 2019 RCS Fact Sheet #4 Age Comparisons Among Workers

To learn more about this survey please visit the RCS website at EBRI.

To read more analysis about this survey read Richard Eisenberg's article Americans are confident about retirement. Are we kidding ourselves? at MarketWatch.

Retirement Data: Fidelity Plan Balances Q4 2018

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Source: Fidelity

Fidelity recently released their Q4 2018 Retirement Account Balances press release. I focus on these numbers because of Fidelity's size. They have $6.7 trillion in client assets, including more than 30 million retirement accounts. Here are a few items to highlight from their press release:

• As of Q4, more than half (50.6 percent) of 401(k) savers are 100% invested in a target date fund.

Retirement Data: Fidelity Plan Balances Q3 2018, Record High Balances

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Source: Fidelity

Fidelity released their retirement balances data this week and Fidelity highlighted the following:

• Number of 401(k) Millionaires Increase 40 Percent from Q3 2017


• Contribution Rates for Women Reach Record Levels, at 8.5%


• Average 401(k) Balance for Millennials Saving for Five Years Straight Tops $80,000 

Retirement Data: Fidelity Plan Balances Q2 2018

Please click on the above chart to enlarge. From Fidelity's press release:

• Average individual 401(k), 403(b) and IRA account balances bounce back from dip in Q1, show solid year-over-year growth. The average 401(k) balance increased to $104,000, just under the all-time high balance of $104,300 from Q4 2017. The average balance represents a one percent increase from last quarter and a six percent increase from one year ago. The average IRA balance increased to $106,900, almost a two percent increase from last quarter and almost a seven percent increase from Q2 2017. The average 403(b) account was $83,400, almost a two percent increase from Q1 2017 and a five percent increase year-over-year.

Retirement Data: 18th Annual Transamerica Retirement Survey

Transamerica Center for Retirement Studies (TRCS) published their 18th annual survey results at the end of June. Here are some highlights quoted from their press release and their research:

• American workers’ total household retirement savings have grown to $71,000 (estimated median) in 2017, up from $53,000 in 2013. Baby Boomer workers, the generation that is currently entering retirement, have saved $164,000 (estimated median) in all household retirement accounts, up from $103,000 in 2013.

Retirement Data: Vanguard How America Saves

In June, Vanguard released their report How America Saves 2018. Highlights from the report include:

• "In 2017, the average account balance for Vanguard participants was $103,866; the median balance was $26,331. In 2017, Vanguard participants’ average account balances rose by 8% compared with 2016 and median account balances rose by 7%. Two factors are driving the changes in participant account balances. The first is a changing business mix—new plans converting to Vanguard recently have had lower account balances. The second is the rising adoption of automatic enrollment, which results in more individuals saving, but also a growing number of smaller balances." 

Retirement Data: Fidelity Plan Balances Q1 2018

Please click on the above chart to enlarge. From Fidelity's press release:

• Average individual 401(k), 403(b) and IRA account balances increased year-over- year, but dipped slightly from Q4 2017. The average 401(k) balance dropped to $102,900, about 1 percent lower than Q4 2017 but an 8 percent increase from Q1 2017. The average IRA balance also dipped about 1 percent to $105,100 from last quarter, but increased 8 percent year-over-year. The average 403(b) account was $82,100, down slightly from Q4 2017 but up 9 percent year-over-year.

Retirement Data: Fidelity Plan Balances Average Six Figures at End of Q4 2017

Please click on the above chart to enlarge. From Fidelity's press release:

• IRA and 401(k) accounts continue to hit record levels. Increasing contributions and a strong stock market drove both the average 401(k) and IRA balances over six figures. The average 401(k) balance rose to $104,300, 13 percent higher than Q4 2016. The average IRA balance climbed to $106,000, which is also a 13 percent year-over-year increase. 

Retirement Data: Fidelity Plan Balances Q3 2017

Please click on the above chart to enlarge. From Fidelity's press release:

• "Retirement account balances reached all-time highs for the fourth consecutive quarter. Helped by strong stock market performance, the average 401(k) and IRA balances increased 10 percent over the last year and continued to hit record levels. The average 401(k) balance rose to $99,900, while the average IRA balance climbed to $103,500."  


• "While the average 401(k) and IRA balance increased for every generation (Boomers, Gen X and Millennials) over the last year, significant growth was seen among Gen X investors. The average IRA balance for Gen X investors increased 16.5 percent to $51,500, and the average Gen X 401(k) balance increased 18 percent to $98,800."