Building financial futures across America

Fidelity’s Q2 2025 Building Financial Futures report provides a quarterly analysis of US retirement savings trends, employee savings behaviours, and retirement plan design updates across Fidelity’s retirement savings platforms.

In addition to quantitative metrics, such as account balances, contribution rates, and asset allocation, the analysis includes qualitative insights into participant behavior and sentiment.

Q2 2025 retirement savings trends

Fidelity’s Q2 analysis found that concerns about the economy reached the highest levels we’ve seen since 2021, with 54% of respondents indicating they were extremely or very concerned about the economy, up from 37% last year.

Despite this concern, both employees and employers continued to save at a healthy rate, which helped boost the average 401(k), IRA, and 403(b) account balance.

Q2 2025 key takeaways on retirement savings and plan design

• Few participants changed their asset allocation despite market volatility: In light of the huge market swings early in Q2, only 5.5% of participants made changes to their asset allocation, and of those who made a change, 82% made only one change.²
• Roth option availability continues to grow across plans: In terms of plan design trends, almost 95% of plans now offer a Roth option, and nearly half (45.9%) offer Roth in-plan conversions.²
• Higher ed employees show strong engagement: Our “403(b) deep dive” found that while higher ed employees have high participation and engagement rates overall, there may be opportunities for employers to provide help to younger workers and those with lower salaries.
• Nurses maintain strong savings but face debt and burnout challenges: This quarter’s spotlight is focused on nurses. While nurses continue to have strong savings habits, many also carry debt, and they are susceptible to burnout and exhaustion. We’ve highlighted some ways that employers can address these challenges and help improve nurses’ financial wellness.

Explore the full report to gain a comprehensive understanding of the trends and behaviours we’ve identified this quarter. By following the link, you will be taken to fidelityworkplace.com. This website is subject to separate terms and conditions.