Business
401(k) Millionaire Count Falls as Savings Rates Hit Record High, Fidelity Data Shows
📅 May 28, 2026 01:00 ET
⏱ 2 min
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GazetaDay Editorial
The number of 401(k) millionaires declined in the first quarter, even as participant savings rates climbed to an all-time high, according to new data from Fidelity Investments.
First-Quarter Balances and Millionaire Count
Fidelity’s first-quarter data reveals a dip in average 401(k) balances. The count of 401(k) millionaires — accounts with balances exceeding $1 million — fell during the period. The decline comes amid broader market volatility that weighed on retirement account values.
Record Savings Rates
Despite the balance downturn, Fidelity reported that participant savings rates reached a record high in the first quarter. The data indicates that employees are contributing a larger share of their paychecks to retirement accounts than at any prior point in Fidelity’s tracking history, offsetting some of the market-driven losses.
Broader Retirement Trends
The report also noted that overall retirement account behavior showed resilience, with sustained contribution levels and limited early withdrawal activity. Fidelity’s analysis covers millions of accounts across its 401(k) recordkeeping business, providing a broad snapshot of U.S. worker saving patterns.
Market Context
As of May 28, 2026, the Russian ruble traded at 70.90 per U.S. dollar (change: -0.77) and 82.72 per euro (change: -0.58). Bitcoin was at $73,051, down 3.2% in the past 24 hours. Crude oil was estimated at approximately $72 per barrel.
401(k)retirement savingsFidelity Investmentsstock market volatilitymillionaire countsavings ratemarket downturn