The assets in 401(k) plans topped $1 trillion at the end of March, according to new data from consultants the Spectrem Group, San Francisco. Assets in 401(k) plans doubled in the past five years alone.
Spectrem chairman Amy J. Errett said that more than 25 million Americans from almost 270,000 companies participated in 401(k) plans as of March 31. At the end of 1992, there were just 18.5 million 401(k) plan participants from 175,000 companies with invested assets of $410 billion.
The growth of 401(k) plan assets is perhaps even more remarkable, considering that total assets were only $105 billion in 1985.