Overview
- Fidelity’s Q1 2026 report, released Thursday, showed average 401(k) balances fell about 4% to $141,000 and average IRA balances dropped about 4% to $131,400.
- The number of 401(k)-created millionaires slid to 645,000 and IRA millionaires to 571,622 after market weakness reduced portfolio values.
- Total 401(k) savings rates reached a record combined 14.4% of pay as nearly one in five participants increased contributions through automatic escalation.
- Roth activity accelerated with Roths making up 67% of IRA contributions and Roth conversions rising roughly 41% year over year, while employer contributions set a quarterly record at about $2,080 per participant.
- Hardship withdrawals and plan loans edged higher and a minority of savers hold fully concentrated stock positions, which raises near-term risk even though average balances are up year over year and long-term saving behavior remains strong.