Record 401(k) Averages Mask Wide Worker Gaps
Employers sponsoring 401(k) plans should expect participant questions as balances rise and private-asset options expand.
Updated on Nov. 2, 2026 in Employment
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At a Rock Hill, South Carolina rally on October 29, President Donald Trump claimed stock market gains had improved some couples' romantic feelings and urged Americans to check their 401(k) balances before the November midterm elections. The claim comes as average 401(k) balances reach record levels, which matters for employers and plan sponsors whose workers are tracking retirement savings.
Why it matters
Retirement account values are a visible measure of workforce financial health, and employers that sponsor 401(k) plans face ongoing pressure around plan design, participant communication, and investment options. The president's framing ties market performance to personal finances at a time when a federal executive order has opened 401(k) plans to private company stakes, real estate, and cryptocurrency.
The average 401(k) balance reached a record $155,800 in Q2 2026, up about 75% over the past decade, while the S&P 500 is up roughly 12.8% since January. The median balance at one large firm was $44,115 at the end of 2025, and 65% of married or cohabiting Americans in an October financial-planning survey named money a top relationship stress.
The players
Donald Trump
President of the United States and former New York real estate developer, whose administration issued the August 2025 executive order directing 401(k) plans toward private asset classes.
The details
Trump said at the rally that some wives had told him they feel affection for their husbands again after seeing their retirement accounts grow, and he claimed the market has hit dozens of record highs since his election. In August 2025 he signed an executive order directing that 401(k) plans be allowed to offer private company stakes, real estate, and cryptocurrency assets. The gap between the record average balance and the much lower median at one large firm illustrates how averages can mask uneven retirement readiness across a workforce.
Timeline
August 2025: Trump signed the executive order on 401(k) plans offering private assets.
End of 2025: Median balance at one large firm reached $44,115.
October 2025: A financial-planning survey found 65% of couples cite money as a relationship stress source.
October 29, 2026: Trump made the romance claim at the Rock Hill, South Carolina rally.
Second quarter of 2026: Average 401(k) balance hit a record $155,800.
Market Landscape
The August 2025 executive order directing 401(k) plans toward private company stakes, real estate, and cryptocurrency set the policy direction now being promoted at the campaign level. Record average balances and the wide gap to the median at one large firm show how plan performance varies across participants.
Employers sponsoring 401(k) plans should expect employee questions about account values and the investment options the executive order now permits. Plan sponsors and their advisers should consider with qualified counsel or an accountant whether any new private-asset options would be appropriate for their plan.
The takeaway
Plan sponsors should treat record average balances as a snapshot that can hide wide participant gaps, so reviewing median and lower-tier balances alongside averages is worth doing. Any consideration of private-asset options under the August 2025 executive order should be reviewed with qualified counsel before any plan change.
Further reading
For broader context on how retirement plan balances are shaping workforce benefits, see Employment coverage across the United States.
Source note: This article includes information reported by Rolling Out.
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