The average account balance in small-business retirement savings plans increased 20 percent since 2007 and jumped an average of 64 percent over 2008, when balances were at their lowest point.
Fidelity Investments came up with those figures after analyzing six years of data for more than 200,000 small-business accounts with the firm. These plans usually have fewer than 10 employees.
Fidelity found that even during the economic downturn, small-business owners and their employees continued to increase their contribution rates.
The average contribution to these retirement savings accounts increased across the board since 2007, with those using Self-Employed 401ks showing the largest increase of 21 percent to $20,950.
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Employer contributions to SEP-IRAs increased 14 percent from 2007, reaching $13,250 at the end of 2012, while average employer/employee contributions to SIMPLE-IRAs increased the least, rising 4 percent to $6,000.