Fidelity: Average 401(K) Balances At Record High
Fidelity Investments released its quarterly analysis of 401(k) plans, which showed the average balance had increased to another record high by the end of 2012.
In a release dated
"It's encouraging to see how continued savings combined with a healthy equity market have led to another record-high balance for 401(k) savers," said
Recent legislative provisions have raised awareness of Roth 401(k) opportunities for workplace participants, such as tax-free growth potential and tax-free withdrawals for them and their heirs4. Regulations now allow participants to convert money in existing qualified savings plans to a Roth account, should their plan include the investment option5. Today, 37 percent of workplace retirement plans offer a Roth savings option, up from 12 percent five years ago. Of these plans, 12 percent of them offer the Roth in-plan conversion option.
Fidelity Investments is a provider of financial services.
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