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May 20, 2004 at 08:00 PM
NU Online News Service, May 20, 2004, 4:15 p.m. EDT – The typical U.S. worker had better luck with 401(k) plan accounts than with individual retirement accounts in the early 2000s.[@@]
The median balance for IRAs dropped 12% between early 2000 and late 2001, to $15,000, while the medium balance for 401(k) plan accounts and other defined contribution retirement plans dropped only 8%, to $15,000, according to a new report from the Employee Benefit Research Institute, Washington.
EBRI figures show that average 401(k) plan balances for members of the 4 demographic categories of adults with annual family incomes under $40,000 grew, held steady or shrank less than 3% between early 2000 and late 2001.
