By Shelby Livingston, Crain News Service
BOSTON (Feb. 5, 2016) — Market volatility weighed on retirement plan funds as the average 401(k) balance of accounts administered by Fidelity Investments dropped 3.7 percent in the fourth quarter of 2015 compared with the same period the year before, the financial services firm said Feb. 4.
In an analysis, Boston-based Fidelity/FMR L.L.C. reported that the average 401(k) balance shrank to $87,900 in the fourth quarter from $91,300 in the prior-year period. However, the average 401(k) balance rose 4.1 percent from the third quarter of 2015 after the market recovered slightly from losses due to volatility.