Good news: Employees are starting to get serious about saving for retirement

Two studies — one from Fidelity Investments and another from Bank of America Merrill Lynch — show employees may be taking advantage of their workplace retirement plans after all.

Retirement account balances, for 401(k) plans and individual retirement accounts, reached an all-time high for the third consecutive quarter, according to a Fidelity analysis of its retirement accounts, showing the average 401(k) balance was $97,700 and the average IRA balance was $100,200. Retirement savers with accounts from 10 years ago saw a record average of $266,100, up from $78,800 in the second quarter of 2007 — in which the market accounted for 53% of growth and employee contributions accounted for 47%.

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