Washington (Aug. 13, 2004) -- The stock market seems to have been generous to many 401(k) plan participants in 2003 -- the average ongoing 401(k) account grew by 29.1 percent last year, the Employee Benefit Research Institute and the Investment Company Institute reported.

The average account balance for those who have maintained accounts at least since 1999 was $76,809 at the end of 2003, up 17.1 percent from the 1999 figure of $65,572 for an annual increase of about 4 percent, according to the EBRI/ICI 401(k) database, which tracks the behavior of about 15 million active 401(k) participants holding $776 billion in assets as of Dec. 31, 2003.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access