Although the majority of 401(k) participants exhibited steady savings behavior in the second quarter, the number of loans and hardship withdrawals also increased, according to data from Fidelity Investments.

The average 401(k) balance as of the end of the second quarter was $61,800, up 15% from a year earlier, but down from the end of the first quarter. The average deferral rate, or the percentage of a participant’s salary saved, stayed on track at about 8%. One-in-three- participants deferred at 10% or higher. As in the first quarter, more participants increased their deferrals (%.3%) than decreased (2.9%) in the second quarter.

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