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First quarter 401(k) balances surge

Since March 2009, when the S&P 500 plummeted to a 12-year low, 401(k) account balances have surged more than 55 percent to hit at $71,600 on average by the end of the first quarter 2010.

By Jenny Ivy | Updated on May 20, 2010

Since March 2009, when the S&P 500 plummeted to a 12-year low, 401(k) account balances have surged more than 55 percent to hit at $71,600 on average by the end of the first quarter 2010.

According to new data from Fidelity Investments, participants that stayed the course over the past 12 months of market recovery saw positive momentum for their account growth and performance.

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