Fidelity's Q3 Shows Gains for Longtime 401(k)s

BOSTON (TheStreet) -- This week, Fidelity Investments offered some encouraging, postrecession news for its retirement client -- that preretiree participants who continuously held a 401(k) plan with them for the past 10 years more than doubled their account balances.

The average account balance for these preretirees, aged 55 years or older, rose to $211,300 by the end of the third quarter of this year from $96,000 a decade ago, the firm says in a Thursday statement.

Preretirees with a contribution rate at or above 8% this year showed average balances increasing more than 130% over the past 10 years, to $291,700 from $125,600.

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