Retirement account balances are at new highs, in accordance with Constancy Investments. Due to the market’s latest run-up and elevated financial savings, the variety of 401(ok) and IRA millionaires additionally hit all-time data within the second quarter of 2021. CNBC experiences:

Retirement account balances, which took a pointy nosedive in 2020 when the coronavirus outbreak prompted financial shock waves, are actually at new highs, in accordance with the most recent knowledge from Constancy Investments, the nation’s largest supplier of 401(ok) financial savings plans.

The general common 401(ok) steadiness hit $129,300 as of June 30, up 24% from the identical time final yr, in accordance with Constancy. Particular person retirement account balances had been additionally greater — reaching $134,900, on common, within the second quarter, up 21% from a yr in the past.

Regardless of Covid case numbers rising within the U.S. and around the globe, the yr’s market highs have been a boon for savers. Within the second quarter, the S&P 500 ended up 8.2%, earlier than retreating extra just lately.

Practically 12% of staff elevated their contributions throughout this time, whereas a file 37% of employers additionally robotically enrolled new staff of their 401(ok) plans. Because of this, the variety of 401(ok) and IRA millionaires hit recent highs, as properly.