401k Balances Up In February Compared to December

According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI) — the average 401(k) balances were up in February compared to the 4.9 % decline in December 2018.

The EBRI/ICI Participant-Directed Retirement Plan Data Collection Project is the largest, most representative repository of information about individual 401(k) plan participant accounts. As of December 31, 2016, the EBRI/ICI database included statistical information about:

» 27.1 million 401(k) plan participants, in
» 110,794 employer-sponsored 401(k) plans, holding
» $2.0 trillion in assets

Here are some numbers for the month of February 2019

  • The average 401(k) account balance for younger (25-34), less-tenured (1-4 years) workers was still 3.8% higher at month-end.
  • As for older (age 55-64) workers with more than 20 years of tenure, that average balance grew 2.1%.

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>