Average balances of 401(k)s fell 2% in second quarter

BOSTON » Workers stashed more money in their 401(k) plans in the second quarter, but the stock market’s decline left them slightly further behind in reaching their savings goals. That’s according to Fidelity Investments, the nation’s largest 401(k) administrator.

Fidelity said the average balance among its nearly 12 million account holders was $72,800 at the end of June. That’s about 2 percent less than at the end of March.

It didn’t help that the Standard & Poor’s 500 stock index fell nearly 3 percent during this year’s second quarter. A broad U.S. bond market index rose 2 percent, helping to offset some of the stock decline.

Damage to account balances also was reduced because workers set aside more from their paychecks to stash in 401(k)s, while employers increased matching contributions.

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