The average employee contribution to a 401(k) plan rose slightly in 2011, Fidelity Investments reported Thursday. The average contribution increased to $5,750, up from $5,680, due to participants electing an average 8% deferral rate, according to Fidelity.
“It’s very encouraging that savings levels actually held up during the intense market volatility of last year and a sluggish economic environment,” James MacDonald, president of workplace investing for Fidelity Investments, said in a statement. “Increases in savings levels, however small, can make a significant impact over time.”
Fidelity surveyed over 11 million 401(k) participants in Fidelity plans for the report.