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Average 401(k) Balances for 6 Different Age Groups: 2023 - ThinkAdvisor

Average 401(k) Balances for 6 Different Age Groups: 2023 - ThinkAdvisor

In recent years, retirement plan sponsors have increasingly adopted automatic solutions to help employees save more for retirement, according to research from Vanguard.

As a result, the fund giant says, plan participation rates have increased, automatic enrollment designs have become stronger and participant portfolio construction has continued to improve with more age-appropriate asset mixes and less extreme equity allocations.

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