Continued contributions to 401(k)s and a 34% rally in the S&P 500 in the second and third quarters have propped up average balances quite strongly, Fidelity found in an analysis of the 11 million individual 401(k) accounts it serves.

While the S&P 500 rose 16% in the third quarter, the average 401(k) balance rose 13% to $60,700. Since the end of the first quarter, when the average balance was $47,500, the average rebound in 401(k) balances has been 28%.

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