Business Intelligence Watch TMC

401(k) Accounts Show Growth

September 29, 2005

So much for all of the reports that indicate the savings rate of Americans is a fraction of what it should be.

A new report revealed that from 1999 to 2004, the average balance for 401(k) accounts that existed during the entire period improved 36 percent. This includes employee contributions, matches provided by employers, investment gains as well as withdrawals or loans made by participants.

In fact, the average balance in 401(k) accounts opened at least five years reportedly jumped from $67,106 at the end of 1999 to $91,042 at the end of last year.

By Glenn J. Kalinoski, Executive Editor, Customer Inter@ction Solutions




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