Record Highs in 401(K) Contributions Retirement accounts in the U.S. reached record highs by the end of 2018’s third quarter. The average account balance was $106,500 for 401(k) plans, and the number of 401(k) millionaires in the U.S. increased to 187,400, up 41 percent from 2017. This trend may continue, because of an increase in 2019…

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“Employees of Boston-based Fidelity have sued the financial services giant alleging that it loaded their $15 billion retirement plan with the company’s own mutual funds, saddling it with excessive fees and poor returns. Filed on Wednesday in Boston federal court, the proposed class action said Fidelity’s alleged mismanagement cost participants in the 401(k) plan more…

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