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401-K Balances at All-time High

10% of workers increase their savings rate, according to Fidelity.

By Margaret Collins, Bloomberg | Updated on May 13, 2011

Average balances of 401(k) retirement plans reached the highest level since Fidelity Investments began tracking account values in 1998.

The average account balance in the U.S. rose to $74,900 as of March 31, an increase of almost 12 percent from last year, according to a report released today by the Boston-based mutual- fund manager. Fidelity, the largest provider of 401(k)s, has 11 million participants in almost 16,500 employer-sponsored defined contribution plans.

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