EBRI/ICI 401(k) Database: Buoyed by Equity Market Performance and Ongoing Contributions, Average 401(k) Account Balances Grew in 2003
U.S. Newswire, August, 2004
WASHINGTON, Aug. 9 /U.S. Newswire/ -- The average ongoing 401(k) account grew by 29.1 percent in 2003. The change, reported in new publications from the Employee Benefit Research Institute (EBRI) and the Investment Company Institute (ICI), reflects both added contributions and changes in the value of assets already contained in the accounts.
According to the EBRI/ICI 401(k) database, the largest of its kind, the average account balance for those who have maintained accounts at least since 1999 was $76,809 at the end of 2003, up 17.1 percent from the 1999 figure of $65,572-or an annual increase of about 4.0 percent.
Outcomes for older and younger workers are significantly different. The average account balance for a worker in his or her 20s jumped 138.7 percent...
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