{
  "id": 5529583,
  "title": "Sturdy stock market mints a record number of 401(k) millionaires",
  "url": "https://urgent.news/2026/09/04/sturdy-stock-market-mints-a-record-number-of-401-k-millionaires",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T09:00:12.000Z",
  "source": {
    "name": "CBS News",
    "slug": "cbs-news",
    "url": "https://www.cbsnews.com/news/401k-millionaires-record-fidelity-retirement-savings/"
  },
  "original_language": "en",
  "account": "The number of 401(k) accounts with balances of at least $1 million managed by Fidelity Investments reached a record 769,000 in the second quarter, marking a 19% increase from the previous quarter. This surge is attributed to a strong stock market performance and record average employee contributions. Fidelity Investments reported that about 3% of its 25.8 million 401(k) accounts have balances reaching $1 million. While these millionaire accounts are becoming more common, they still represent a small portion of the total workforce. Only 7 in 10 workers believe they will be able to retire comfortably, according to a recent survey. Fidelity's Michael Shamrell, vice president of thought leadership, noted that the focus should be on the behaviors of top savers rather than the $1 million milestone, as retirement needs vary greatly from person to person. The average contribution rate to 401(k)s remained at a record high of 9.6% in the second quarter despite economic pressures. The S&P 500 gained 15% in the second quarter, with broad-based gains of 20% over the past year and 71% over five years due to strong corporate profits and demand for artificial intelligence. However, despite these positive market trends, many Americans remain uncertain about their retirement prospects, with 72% of workers reporting they are falling behind on their savings.",
  "summary": "The number of millionaire 401(k) accounts at Fidelity reached a record 769,000 in the second quarter.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}