Two puzzle pieces

Americans appear to be refocusing on investing for their future after a few years of saving less and investing more conservatively in response to the pandemic and the subsequent economic challenges. Retirement savings account balances are up for the second quarter in a row due to improving market conditions and an increase in contributions from employers, according to Fidelity Investments' Q1 2023 Retirement Trends analysis, which analyzes 44.5 million IRA, 401(k) and 403(b) retirement accounts.

The average 401(k) balance increased to $108,200, up 4% from the fourth quarter of 2022 and 5% from 5 years ago. The average 403(b) account balance increased to $97,900, up 6% from the previous quarter and up 16% from 5 years ago.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.