Record US 401(k) millionaires rise on stock rally and steady saving

Fidelity data shows a record 769,000 Fidelity 401(k) accounts hold at least $1 million in Q2, up 19% from Q1, driven by a 15% S&P 500 gain and consistent employee contributions; the average balance across workplace plans is about $155,800, and roughly 3% of accounts are millionaires, highlighting that a seven-figure balance remains out of reach for most workers despite the surge.