A Federal Reserve analysis of family finances from 2022 to 2025 found modest growth in retirement-plan participation and higher retirement account balances. The findings were reported by Fox Business on Oct. 9, 2026, based on the Fed’s Survey of Consumer Finances.
In 2025, 54.9% of families participated in a retirement plan, up 0.6 percentage points from 2022. Among families with retirement accounts, the conditional median balance increased 11% to $106,000, while the conditional average rose 23% to $451,100. The accounts counted include individual retirement accounts and certain employer-sponsored plans, such as 401(k), 403(b) and thrift savings plans.
Average balances increased for the reported age groups from 35 to 64. For families headed by someone ages 55 to 64, the average rose from $588,500 in 2022 to $670,200 in 2025. For ages 45 to 54, it grew from $342,700 to $415,800; for ages 35 to 44, from $154,800 to $182,400. The average for families under 35 declined to $48,400 from $53,800, though it remained above the levels reported for 2016 and 2019.
The survey also found defined-contribution and IRA plans were more common than defined-benefit plans. Participation in the former categories ranged from about 50% among the youngest families to roughly 65% among the oldest in 2025. Among the youngest group, participation was near 50%, up from 42% in 2016.
The report said 98.9% of families held at least one type of financial asset in 2025. Direct stock ownership was reported by 19% of families, down from 21% in 2022 but above the 15.2% recorded in 2019. Among families holding stocks directly, the conditional median value rose to $30,000 from $16,400 in 2022.
