Fidelity’s latest retirement analysis shows the average 401(k) balance jumped 10.5% in the second quarter, while total savings rates remained at a record 14.4%.
The average 401(k) balance in the United States climbed to a record $155,800 in the second quarter of 2026, as retirement accounts rebounded sharply following a decline earlier in the year.
The latest figures from Fidelity Investments show that the average 401(k) balance increased 10.5% from the first quarter and was 13.1% higher than in the second quarter of 2025. Fidelity said the quarterly increase was the largest since the average 401(k) balance rose 10.8% in the fourth quarter of 2020.
The data help explain a White House post on X highlighting that average 401(k) balances had reached record highs. The post featured President Donald Trump at the Forum Club of the Palm Beaches, but the retirement-savings claim itself is based on Fidelity data rather than the event shown in the photograph.
Average 401(k) balance reaches $155,800
Fidelity’s Q2 2026 analysis found that the average 401(k) balance rose from $141,000 in Q1 2026 to $155,800 in Q2.
That represents a $14,800 increase in just one quarter.
The average balance had fallen 4% in Q1 from $146,400 at the end of 2025, according to Fidelity’s earlier analysis. The strong Q2 rebound therefore pushed balances above the previous levels.
Fidelity’s Q2 figures are based on 27,300 corporate defined-contribution plans covering 25.8 million participants as of June 30, 2026. The data include the advisor-sold market but exclude the tax-exempt market.
Retirement savings rate remains at 14.4%
The improvement was not limited to account balances.
Fidelity reported that the overall 401(k) savings rate remained at 14.4% in Q2 2026. That figure combines employee contributions and employer contributions.
Employees contributed an average of 9.6% of pay, while employers contributed an average of 4.8%. The combined rate is close to Fidelity’s suggested retirement savings rate of 15%.
The average employee contribution amount was $2,630 in Q2, compared with $2,540 a year earlier. The average employer contribution increased to $1,410, up from $1,370 in Q2 2025.
How 401(k) balances differ by generation
Fidelity’s data also show a significant difference in average account balances between generations.
| Generation | Average 401(k) Balance |
|---|---|
| Baby Boomers | $283,200 |
| Gen X | $240,700 |
| Millennials | $94,300 |
| Gen Z | $20,800 |
| Overall | $155,800 |
Baby Boomers had the highest average balance at $283,200, followed by Gen X at $240,700. Millennials averaged $94,300, while Gen Z workers had an average balance of $20,800.
The difference largely reflects how long workers have been saving and investing through workplace retirement plans.
Millennials see particularly strong growth
Although Millennials have a substantially lower average balance than older generations, their balances grew particularly quickly during the quarter.
Fidelity reported that the average Millennial 401(k) balance increased 14.3% during Q2 2026 and was 26.1% higher than in Q2 2025.
Younger workers are also increasingly using Roth 401(k) options. Fidelity found that 19.3% of participants contributed to a Roth 401(k) in Q2, up from 17.1% a year earlier. Among Gen Z workers, the figure was 21.9%, compared with 20.1% for Millennials.
More than 8 in 10 workers received their full employer match
Employer matching remains an important part of retirement savings.
Fidelity said 81.2% of workers contributed enough to receive the full employer matching contribution available through their plans in Q2 2026.
At the same time, 12.1% of participants increased their contribution rate during the quarter, while 5.5% changed their asset allocation. About 19.5% of workers had an outstanding 401(k) loan, although only 2.8% initiated a new 401(k) loan during the quarter.
What the record 401(k) balance means for Americans
The $155,800 figure is encouraging, but it should not be interpreted as the amount every American has saved for retirement.
It is an average across Fidelity’s covered plans, meaning individual balances can be substantially higher or lower. Age, income, years in the workforce, employer contributions, investment performance and how consistently someone saves can all affect an individual’s retirement account.
The latest data nevertheless point to a strong rebound in workplace retirement savings after the market-related decline seen during the first quarter.
For retirement savers, the combination of rising balances and a 14.4% total savings rate suggests that many workers continued contributing to their plans even amid concerns about the economy and cost of living.
Bottom Line
The average Fidelity 401(k) balance reached $155,800 in Q2 2026, marking a record level and a 10.5% quarterly increase. The rebound came alongside a record-level 14.4% total savings rate, highlighting continued retirement contributions from both workers and employers.
Important image context: The Trump photograph in the White House post was taken in connection with the Forum Club of the Palm Beaches’ 50th-anniversary event. The “50” visible in the backdrop refers to the Forum Club’s anniversary, not a 50% increase in 401(k) balances. The club itself describes its 2025–26 season as its 50th anniversary season, and Trump spoke at its dinner on May 1, 2026.
