The Average 401(k) Balance Lost 20% of Its Value Last Year

The average 401(k) account at Fidelity Investments lost about a fifth of its value in 2022, tumbling to $103,900 from $130,700, according to a report Thursday from the asset manager.

After a year when the S&P 500 plunged 19% and bonds provided little refuge, double-digit drops are about what you’d expect for investors who didn’t retreat into money market funds. Average account balances at Vanguard were down 20%, and losses on some of the largest actively managed equity funds in 401(k) plans were far greater.

The losses in 2022, stemming in large part from the plummeting stock pricesof leading technology companies, come at a time when ...