BOSTON (AP) — Workers continued to stash more money in their 401(k) plans in the third quarter, but the stock market's sharp decline only left them further behind in reaching their savings goals.
The average balance in Fidelity Investments' plans dropped nearly 12 percent, falling to $64,300 by the end of September from $72,700 three months earlier, the company said Wednesday.
That setback snapped four consecutive quarters of increases, and even put investors behind where they stood a year ago. Their balances were down 2 percent compared with September of last year, according to Fidelity, the largest workplace savings plan provider, with 11.7 million participants.
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