Fidelity said in a Thursday report the number of 401(k) accounts with balances
of $1 mln or more rose 19% quarter-on-quarter in Q2 to a record 769,000, the
largest quarterly increase since Q4 2023. Equity gains drove the rise: the S&P
500 gained about 15% in the three months to June 30, its strongest quarter since
2020. Average balances on Fidelity’s platform for 401(k), 403(b) and IRAs
reached record highs, while corporate retirement-plan savings rates remained at
record levels.
