Trump cites $30,000 in 401(k) gains; Fidelity data shows $9,454 increase

Why it matters locally: While no specific Iowa data is available from Fidelity, the performance of 401(k) accounts impacts numerous Iowans saving for retirement, as a significant portion of the population participates in such plans.

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President Trump claimed that 401(k) account balances rose by $30,000 during his second term. Fidelity Investments, the nation's largest 401(k) plan administrator, reported average account balances increased by $9,454 during the majority of that period. The $9,454 figure represents a gain of roughly 31 percent relative to Trump's $30,000 claim. Trump did not specify which time period, account segment, or metric he used to arrive at his figure. Fidelity's data tracks average account balances across its 401(k) client base. The firm manages retirement plans for millions of Americans across various industries and account sizes. Neither Trump's office nor Fidelity provided additional context on the source of the $30,000 figure or methodology behind the calculation. Factors affecting 401(k) balances include stock market performance, employer contributions, employee deferrals, and portfolio allocation choices. Stock market indices posted significant gains during Trump's second term. The S&P 500 rose approximately 20 percent from the time of Trump's inauguration in January through the date of comparison. Different 401(k) accounts perform differently based on investment choices, contribution levels, and market timing. Fidelity's average reflects the broad population it serves, which includes accounts with varying performance outcomes.