401(k) Balances Reached Record on 2012 Stock Market Rally

Fidelity Investments, the largest provider of 401(k) retirement savings plans, said average balances in the employer-sponsored accounts reached a record high in 2012 as market gains boosted assets.

The average balance in the U.S. rose 12 percent from a year earlier to $77,300 as of Dec. 31, according to a report today by the Boston-based mutual-fund firm. Fidelity administers plans for about 12 million workers and has been tracking the data since 2000.