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However, balances have risen all but two quarters since the market meltdown, which reduced the average to $46,200. Since then, the number of workers increasing their contributions has consistently surpassed the number cutting them. Investment earnings and contributions can grow tax-free in employer-sponsored 401(k) accounts, a key reason why they're popular ways to save for retirement. Yet it's been a tough battle in recent years. Workers who have stayed in the market haven't been able to rely on investment gains to build up savings. That's because stocks are nearly 15 percent below their historic peak in October 2007. Instead, workers have had to rely on contributions from themselves and their employers. Nevertheless, Fidelity's latest numbers demonstrate the value of a making saving a habit. Workers in Fidelity 401(k) plans who routinely set aside money from their paychecks with the same employer for at least 10 years had amassed an average $179,100 by the end of 2011. That's nearly two-and-a-half times greater than the overall average for Fidelity's 401(k) participants
-- including workers who haven't been saving for a long time or discontinued contributions because of economic hardship or a switch to a new employer. "It's a very important reminder that participants will benefit through a continuous commitment to savings," McHugh said.
[Associated
Press;
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