Americans just got a sizable boost to their retirement savings. The average 401(k) balance reached a record $155,800 in the second quarter of 2026, according to new data from Fidelity Investments.
That figure jumped 10.5% from the first quarter and 13.1% from a year earlier. Fidelity said it was the strongest quarterly growth for average 401(k) balances since the fourth quarter of 2020, when balances rose 10.8%.
The stock market deserves part of the credit. After volatility earlier in 2026, markets rebounded sharply during the second quarter, lifting the value of investments held inside millions of retirement accounts. Workers also did their part as well. Fidelity found that retirement savings rates remained at record levels, showing that many Americans kept putting money away even as concerns about living costs, job security, and the economy remained high.
401(k), IRA and 403(b) Balances All Reach Records
The average 403(b) balance reached $145,000 in Q2, rising 12% from the previous quarter and 16% from a year earlier. These plans are commonly used by workers at schools, nonprofits, hospitals, and other tax-exempt organizations.
IRA investors also had plenty to celebrate. The average IRA balance climbed to a record $144,523, increasing 10% from both the first quarter of 2026 and the same period last year.
Longer-term figures make the growth look even more striking. Fidelity reported that the average 401(k) balance has increased 75% since Q2 2016. Average IRA balances have climbed 59% over the same 10-year period, while 403(b) balances have more than doubled with a 104% increase. Fidelity found that the total average 401(k) savings rate remained at a record 14.4% for a second straight quarter.
Employer matches are also getting plenty of attention. Fidelity found that 81.2% of 401(k) participants saved enough to receive their employer’s full matching contribution. About 12.1% of 401(k) participants increased their contribution rate during the quarter. IRA savers increased their contributions by 36% compared with Q2 2025.
A Record 769,000 401(k) Accounts Are Worth at Least $1 Million
That was up from 654,000 in the previous quarter, according to Fidelity’s data. The number of IRA accounts worth at least $1 million also reached 684,140.
Those seven-figure balances can look like an overnight result after a strong stock market rally, but the typical story takes much longer. Fidelity’s data shows that the average 401(k) millionaire is 58 years old and has been saving for about 25 years.
Gen X makes up the largest share of Fidelity’s 401(k) millionaires at 62%. Baby boomers account for roughly 31%, while millennials represent about 6%. The age breakdown reflects how strongly time can affect retirement balances through years of contributions and investment growth.
Women also reached a notable savings milestone during the quarter. Women who continuously participated in their 401(k) plan for at least five years reached an average balance of $273,400.
That pushed the group well past the $250,000 mark. Female IRA investors reached an average balance of $130,231, which was 12% higher than a year earlier. Women also directed 72% of their IRA contributions toward Roth accounts.
Younger workers made strong progress as well. Millennials saw their average 401(k) balance rise 14.2% during the quarter and 26.1% from a year earlier.
Likewise, millennials and Gen Z also showed strong interest in Roth 401(k) accounts. Fidelity reported Roth 401(k) participation rates of 20.1% for millennials and 21.9% for Gen Z workers.