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Americans are saving more for retirement, but it may not be enough

Alessandra Malito
Americans are saving more for retirement, but it may not be enough

The good news: Americans are saving more than they ever have for retirement. Employees contributed an average of $2,370 per account to their 401(k) plans in the first quarter of 2019, a record level and 15% more than one year prior, according to Fidelity Investments, the Boston-based financial services firm that also manages retirement accounts. Employers also hit a record high with their own contributions to employee plans, partly from company matches and profit sharing plans, at an average of $1,780.