The State of the 401(k) Report

The 401(k) industry’s importance to Americans cannot be overstated. It is the vehicle on which millions of households rely to save for their retirement years. It reduces the friction of investing and helps people take that important step of “your money making you money”. Without it the golden years would look a lot less golden.

It is because of significance that we wanted to take a closer look at the 401(k) industry and how it has changed over the past decade. Here are some highlights of what we found:

• 401(k) assets totaled $6,142,583,809,742 at the end of 2019.
• There are 608,354 401(k) plans.
• 87% of 401(k) plans have less than $5 million in assets.
• 56% of 401(k) plans have less than $1 million in assets.
• The top 1% of 401(k) plans hold 73% of assets.
• The average 401(k) balance is $92,921.
• Fidelity has more plans, participants, and assets than any other recordkeeper.

View the complete State of the 401(k) report.