WASHINGTON – The average account balance for participants in 401(k) plans in both 1999 and 2000 has remained essentially unchanged, according to a recent report by the Investment Company Institute (ICI) and the Employee Benefit Research Institute (EBRI). At year-end 2000, the average account balance of the 8.3 million individuals who held 401(k) accounts in both 1999 and 2000 declined 0.1% to $58,774 from $58,850 at year-end 1999. Still, although the year 2000 produced little change in the average account balance of consistent participants, significant results were discovered based on the age of 401(k) participant, said John Rea, the ICI's chief economist. Plan participants who maintained 401(k) accounts in both 1999 and 2000 shows that the average account balance of participants in their 20s rose about 27 percent in 2000. For participants in their 60s, the average account balance fell about 6 percent. [email protected]
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