Fidelity Investments released its quarterly analysis of 401(k) plans, which showed the average balance had increased to another record high by the end of 2012.
In a release dated
"It's encouraging to see how continued savings combined with a healthy equity market have led to another record-high balance for 401(k) savers," said
Recent legislative provisions have raised awareness of Roth 401(k) opportunities for workplace participants, such as tax-free growth potential and tax-free withdrawals for them and their heirs4. Regulations now allow participants to convert money in existing qualified savings plans to a Roth account, should their plan include the investment option5. Today, 37 percent of workplace retirement plans offer a Roth savings option, up from 12 percent five years ago. Of these plans, 12 percent of them offer the Roth in-plan conversion option.
Fidelity Investments is a provider of financial services.
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