Average retirement balances in Fidelity Investment accounts in the third quarter declined compared to the second quarter, but they're up year over year.
Fidelity's quarterly retirement snapshot found that at the end of the third quarter, the average 401(k) balance for participants was $89,100.
Also read: 401(k) contribution limits raised to $18K
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That's down 2 percent from the end of the second quarter, though it's an increase of nearly 6 percent from the same period last year.
Employees who were in a 401(k) plan for 10 years straight, according to the snapshot, were also down 2 percent from the end of Q2, but were up 8 percent from the same period last year. The average balance in those accounts totaled $241,800.
The average balance in a Fidelity IRA was $92,100, down from $92,600 in the second quarter but an increase of 8 percent over the same period from last year.
Fidelity said participants also continued to take a diversified approach to their 401(k) asset allocation, with an average of 55 percent of 401(k) assets in equities and more than 27 percent in blended investments, such as target date funds, and 18 percent in conservative investments, such as bonds.
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