Average 401(k) Balances Up Nearly 10% in 2023
Average 401(k) Balances Up Nearly 10% in 2023 Bank of America released its Q2 2023 Participant Pulse (PDF), which found average 401(k) balances increased by $7,250 (9.6%) since the end of 2022. The report also found that a growing number of 401(k) participants are initiating withdrawals from their plans. The number of participants taking hardship distributions [...]