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Americans worried about whether they are saving enough for retirement may find some encouraging news in Fidelity Investments’ latest look at its millions of retirement accounts.

Average balances in 401(k)s, 403(b)s, and individual retirement accounts all reached record highs during the second quarter of 2026, according to Fidelity’s quarterly retirement analysis. 

The gains were driven by a combination of a rebounding stock market and workers continuing to put money away despite economic uncertainty.

The average 401(k) balance reached $155,800, up 10.5% from $141,000 in the first quarter. It was the biggest quarterly increase since the fourth quarter of 2020. The average 403(b) balance climbed 11.5% to $145,000.

IRAs also benefited. Fidelity says the average IRA balance reached $144,523, a 10% increase from both the previous quarter and a year earlier. Compared with 10 years ago, the average IRA balance has risen 59%.

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Savers aren’t just relying on the stock market

While rising stock prices played an important role in increasing balances, Fidelity’s numbers suggest consumers are also putting more of their own money into retirement accounts.

The total average 401(k) savings rate remained at a record 14.4% for a second consecutive quarter. That includes an average employee contribution of 9.6% and an employer contribution of 4.8%. That’s just shy of Fidelity’s recommended savings target of 15% of income. The average 403(b) savings rate was 12%.

Perhaps more important for individual workers, 81% of 401(k) participants contributed enough to qualify for their employer’s full matching contribution. That’s significant because failing to contribute enough to capture the entire match effectively means leaving part of an employee’s compensation on the table.

IRA owners also stepped up their savings. Contributions to IRAs increased 36% compared with the second quarter of 2025.

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Women cross a milestone

Fidelity also reported notable progress among female retirement savers.

Women who continuously participated in a 401(k) plan for at least five years had an average balance of $273,400, crossing the quarter-million-dollar threshold. Female IRA investors had an average balance of $130,231, up 12% from a year earlier.

Women directed 72% of their IRA contributions to Roth accounts, up 3.4% from the previous year. Roth accounts are funded with after-tax money but generally allow qualified withdrawals in retirement to be made tax-free.

Younger workers also made gains. Millennials’ average 401(k) balances rose 14.2% during the quarter and 26.1% from a year earlier. Gen Z and millennials had some of the highest participation rates in Roth 401(k) accounts.

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Small businesses expand retirement savings

There are also signs that retirement plans are becoming more widely used among small-business owners and self-employed workers.

Over the last five years, Fidelity says the number of accounts in its small-business retirement products — including self-employed 401(k)s, SEP IRAs, and SIMPLE IRAs — has increased 178%. Contributions to those accounts rose 46% over the same period. More than 25,000 people are now participating in Fidelity’s pooled 401(k) plan for small businesses.

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What it means for consumers

The numbers provide a reminder that retirement account growth comes from two sources: investment returns and consistent contributions. Investors can’t control what the stock market does from quarter to quarter, but they can control how much they save.

For workers with a 401(k), one of the simplest steps is to determine how much they must contribute to receive their employer’s entire match. Increasing contributions gradually — especially after a raise — can also move the savings rate closer to the commonly recommended 15% level.

The record balances shouldn’t necessarily be viewed as typical of every American household. Fidelity’s analysis covers more than 55 million retirement accounts, including 20.3 million IRAs and millions of workplace-plan participants, and averages can be pushed higher by people with very large balances.