02/13/2020

Retirement Plans Are Doing Well

401(k) and IRA millionaires at Fidelity hits a record in the fourth quarter

Retirement savers are reaping the benefits of the stock market’s record run. 

The number of investors with at least $1 million in their 401(k) accounts rose to an all-time high of 233,000 in the final three months of last year, topping the previous record of 200,000 in the prior three months, according to Fidelity Investments' quarterly analysis of retirement saving trends for its more than 30 million holders of 401(k) or IRA accounts.

The number of IRA millionaires also rose to a record 208,000 in the period. An IRA, or individual retirement account, is a tax-deferred personal retirement plan sponsored by the government.

Please select this link to read the complete article from USA Today.