401(k) Savings Hit 10-Year High

401(k) savings hits 10-Year high
401(k) savings hits 10-Year high

Retirement savers are back on track after the 2008 stock market downturn, according to a report from Fidelity Investments, the nation's largest provider of workplace retirement savings plans.

Fidelity reported that the average 401(k) savings reached a 10-year high at the end of 2010 with the average saver putting away 8.2% of their paychecks, before the employer match. Employers typically kick in another 50% of employee contributions up to 6% saved, Fidelity says.