The EBRI data showed the average account balance among the group of consistent participants increased nearly 79% from 1999 to 2006, rising from $67,760 to $121,202 – an annual growth rate of 8.7% over the seven-year period.
Among participants who have had accounts at least since year-end 1999, participants who were younger or had fewer years of tenure experienced the largest increases in average account balances – 1,004% from year-end 1999 to year-end 2006, a 40.9% annual growth rate, according to EBRI. However, the average account balance of older participants showed more modest growth. The average account balance for participants in their 60s increased 29% – a 3.7% annual growth rate.
By age group, the EBRI data indicated:
- Balances increased from $13,950 to $28,248 from 2003 to 2006 for participants in their 20s.
- Balances increased from $66,490 to $108,262 from 2003 to 2006 for participants in their 40s.
- Balances increased from $98,811 to $148,927 from 2003 to 2006 for participants in their 50s.
- Balances increased from $127,008 to $157,727 from 2003 to 2006 for participants in their 60s.
For the August 2007 EBRI Issue Brief visitwww.ebri.org .