The rise in account balances was driven by consistent savings by 401(k) plan participants and positive stock market performance, despite tariff-related volatility in early April, according to Fidelity. SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. “This quarter’s retirement balance rebound demonstrates the importance of staying calm and not overreacting to market changes.”

If you have access to multiple plans, you can use any of the plan numbers to which you have access when you log in. Starting in 2025, thanks to the Secure Act 2.0, savers ages can boost their catch-up contribution to $11,250, according to the IRS. This super catch-up provision should help workers near retirement make up for leaner years when they might not have contributed enough. The most popular match on my 401k plan login Fidelity’s platform is based on a 5% employee contribution rate.

Average 401(k) balance by age

• The Plan Number drop-down list is located on the Security Home page.
• Hopefully, eyeballing these guideposts will serve as a wake-up call to prompt action.
• This could be a major factor causing the fund to underperform, and hurt your retirement savings.
• Traditional 401(k) to traditional IRA rollovers generally don’t trigger immediate taxes.

When you take qualified withdrawals in retirement, both your contributions and investment earnings come out tax-free. At the end of June 2025, savers in Fidelity 401(k) plans sported a record-setting average account balance of $137,800, up from $127,100 in the first quarter ending March 31. And the number of newly minted 401(k) millionaires hit 595,000, also a record. You’re probably wondering how your nest egg stacks up against the average 401(k) balance for other people your age. Almost 8 in 10 corporate retirement plans with at least 100 employees are overpaying on 401(k) fees, according to research from the consulting firm Abernathy-Daley.

How to Choose the Right 401(k) Rollover Option for You

Nearly eight in 10 (78.5%) of Fidelity 401(k) plan participants received a company match in the second quarter of 2025. The key is to contribute enough to earn the full match, so you don’t leave money on the table. Fidelity recommends saving 15% of your salary, including your company’s matching contribution. To reach that goal, boost your 401(k) savings when you get a raise or bonus, or commit to saving 1% more each year until you reach your savings target. In fact, one in four (26.3%) Fidelity 401(k) plans now come with employer-set auto-escalation features, according to the Fidelity study. Compare that with Fidelity’s recommended retirement savings amount by age, as measured by the multiples of salary a worker should save by a given decade in life.

• It does not take into account the specific investment objectives, tax and financial condition or particular needs of any specific person.
• Investment options and fee structures vary widely across retirement plans.
• Nationwide Funds distributed by Nationwide Fund Distributors, LLC, Member FINRA, Columbus, OH.
• Consulting with a tax professional can help you understand how each option might affect your tax situation.

If you’re 50 now and earn $100,000, you should have $600,000 socked away. If your company’s fund manager hasn’t performed a benchmark in at least three years, they’re probably taking a hands-off approach. This could be a major factor causing the fund to underperform, and hurt your retirement savings.

We make ADP Financial Wellness Library of content available to you through EverFi, Inc. (“EverFi”) for informational purposes only. NEITHER WE NOR EVERFI PROVIDE LEGAL, CERTIFIED FINANCIAL, OR ANY PROFESSIONAL ADVICE NOR DOES THE ADP FINANCIAL WELLNESS LIBRARY OF CONTENT CONSTITUTE THE PRACTICE OF LAW, OR ANY OTHER PROFESSION. You agree that you bear all responsibility for your own decisions you may elect to make based on any information you learn in connection with ADP Financial Wellness Library of content. Below is a secure login to the 401(k) portal where you can view your balances, change your contributions, or change your beneficiaries. ActivationBefore you begin, make sure you have received the registration code from your company administrator or ADP.

If you have access to more than one plan

The employer contribution rate matches 100% of the first 3% of employee contributions, and 50% of the next 2%. If you make $100,000 and contribute 5%, or $5,000, to your 401(k), your employer with chip in another $4,000 with the match. “It helps you know where you are on your savings journey, sort of like a map if you’re driving from San Francisco to Dallas,” said Shamrell.

Other 401(k) Rollover Options and Alternatives

When it comes to your retirement plan, we do the heavy lifting, so you don’t have to. You can then log into your Mykplan account with your username and password. With the Mykplan app, you can also access your mykplan.com account from your smartphone. You can download the mykplan.com application from the Play Store.

It’s a good idea to take your concerns about your 401(k) to your company’s human resources department. Make sure the company understands that 401(k) infractions could result in severe penalties and stiff fines. The threat of these penalties should be enough to motivate your company to address any problems with the way your 401(k) is being managed. If you have any concerns about your 401(k) plan or if you’ve noticed any of the red flags described above, then it’s time to take action. Here are the signs to watch out for, and the best ways to fix potential problems with your retirement account. This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

You will then have the ability to review your information and complete the registration process. Employee RegistrationSelect Register Now to start the registration process. Traditional retirement accounts force you to start withdrawals at age 73 (75 starting in 2033), but a Roth IRA lets your money keep growing as long as you want. This feature gives you more control and can be useful for leaving assets to heirs. For example, the average balance for savers who’ve been investing in the same 401(k) continuously for 15 years was around $585,600 and about $437,700 for those saving for 10 straight years, Fidelity data show.

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Here’s the average 401(k) balance by generation and age as of June 30, 2025, according to Fidelity’s report, which is based on the 24.6 million 401(k) accounts it manages. Average 401(k) balances increased 8.4% in the second quarter of 2025, hitting a record high of $137,800, according to Fidelity Investments’ Q2 (second quarter) 2025 Retirement Analysis. If possible, schedule a one-on-one meeting with your company’s plan manager and explain your concerns.

Benchmarking your 401(k) wealth vs savers in your same age bracket might not offer as many clues as to your odds of attaining a secure retirement as you might think. Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Ted Benna, the “father of the 401(k),” warned that many employer-sponsored plans charge excessive fees. In fact, he told The New York Times the whole mutual fund industry has profited enormously from 401(k) plans. When you logged in to Plan Sponsor Security, you were required to enter a plan number in addition to your user ID and password.

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Request to see the fund’s benchmarking analysis, a comparative assessment that can tell you how well your fund stacks up against other 401(k) plans. System availability and response times are subject to market conditions and your mobile connection limitations. Feature availability depends on both plan and participant settings.Schwab MoneyWise® and Schwab Savings Fundamentals™ are provided by Charles Schwab & Co., Inc.

When you roll over your 401(k) to a traditional IRA, you gain access to a wider range of investment options. While most employer-sponsored 401(k) plans limit you to a pre-selected menu of mutual funds, an IRA opens the door to individual stocks, bonds, ETFs and more specialized investments. This expanded universe allows you to build a more personalized portfolio aligned with your specific retirement goals. Lastly, traditional IRAs offer more flexibility when it comes to taking distributions. While 401(k) plans often have restrictive withdrawal options, IRAs allow for strategies like setting up systematic withdrawals on your schedule.

A professional can help you navigate the technical aspects of the rollover process, avoid potential pitfalls and ensure your decision aligns with your broader financial plan and retirement goals. When you leave a job or retire, you need to decide what to do with your 401(k). If it’s a traditional 401(k), you can move it to a traditional IRA, where taxes are paid when you withdraw, or to a Roth IRA, where you pay taxes now but withdrawals in retirement are tax-free. If it’s a Roth 401(k), rolling it into a Roth IRA is usually tax-free since you’ve already paid taxes.