Average 401(k) retirement balances fell 3% from late last year through the first three months this year, according to Fidelity Investment data.

Retirement account balances fell in the first quarter of 2025, according to Fidelity Investments, the largest 401(k) provider in the U.S.

Fidelity Investments found that average 401(k) and IRA balances fell 3% and 4% respectively in the first quarter of 2025 due to market swings, while average retirement savings rates hit a record high driven by increased employee and employer contributions.