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Fidelity: 401(k) balances grew 12 percent in 2012

5:49 PM, Feb 14, 2013   |    comments
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BOSTON (AP) - Employee 401(k) accounts are growing fast thanks to the surging stock market and increased contributions from workers and their employers.

Fidelity Investments, the nation's largest 401(k) administrator, says the average 401(k) account balance grew 12 percent last year, to $77,300, compared to the previous year.

About two-thirds of last year's growth was attributed to investment returns and one-third to worker contributions and company matches.

(Copyright 2013 The Associated Press. All rights reserved.)

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