Fidelity: DC plans’ participation rate dips in 2003

The participation rate among the 10,000 defined contribution plans using Fidelity as record keeper was 66% in 2003, down from 68% in the previous year, according to a survey by Fidelity. The survey also showed an $11,000 increase in the weighted average account balance last year, to $55,000. Also, 72% of the plans offered at least one lifestyle fund in 2003, up from 62% a year earlier.