Fidelity Investments says a record 769,000 401(k) accounts had reached $1 million or more by the end of the second quarter of 2026, according to the firm’s Q2 2026 retirement analysis.
The Fidelity report shows average 401(k) balances rose 10.5% in Q2 to $155,800, driven by strong market gains and continued high savings rates, the company said in a September 3 press release.
Fidelity’s Q2 analysis covers 27,300 defined-contribution plans and 25.8 million 401(k) participants and attributes part of the gains to a robust stock market that pushed quarter-to-quarter growth to its strongest level since late 2020.
The release also noted broader trends in retirement behavior: total average savings rates for 401(k) savers held near Fidelity’s recommended benchmark at 14.4%, and IRA contributions climbed 36% year over year, according to the company.
Fidelity framed the milestone as the result of sustained saving and employer matching: the firm said more than eight in 10 participants saved enough to receive their employer’s full match, underscoring the role of persistent contributions in creating so-called 401(k) millionaires.
Analysts and retirement specialists who commented on the data in coverage referenced Fidelity’s statistics to note how market performance plus disciplined saving pushed balances higher across accounts, with IRA and 403(b) averages also hitting new highs, the reporting shows.
For savers, the report is a reminder that consistent contributions and employer matches compound over decades — a point Fidelity emphasized while highlighting gains among long-term participants and rising small-business plan adoption.
Sources
- Fidelity Investments — Q2 2026 retirement analysis and press release, provided the 769,000 401(k) millionaires figure, average balance and savings-rate data.
- Yahoo Finance — reporting on Fidelity’s Q2 analysis that summarized account counts, demographic breakdowns and loan/withdrawal trends.
