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DEFINED CONTRIBUTION

Fidelity 401(k) client account average balance dips in quarter, up 10.7% in year

Fidelity Branch

The average account balance for participants in 401(k) plans that have Fidelity Investments as their record keeper was $80,600 for the quarter ended June 30, confirmed Fidelity spokesman Charles Kabat.

The average account balance was 0.3% lower than the record high of $80,900 for the quarter ended March 31, but up 10.7% from the average account balance of $72,800 for the quarter ended June 30, 2012.

The slight drop in the average account balance for the second quarter was due to investment performance, Mr. Kabat wrote in an e-mail.

The average annual total employee contribution for the 12 months ended June 30 was $5,390, while the average annual total employer contribution was $3,400.

The average annual participant deferral rate for the 12 months ended June 30 was 8%, the same as for the 12 months ended March 31.

For the second quarter, 6% of participants increased their deferrals while 2.9% decreased their deferrals. This was the 17th straight quarter in which increases exceeded decreases.