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Fact-checking Trump's claims about 401(k) gains during his second term
PBS • • business
Key Points:
- President Donald Trump claimed that the typical 401(k) balance increased by nearly $30,000 in 13 months during his second term, but this figure is not supported by available data.
- Fidelity Investments data shows the average 401(k) balance increase between December 31, 2024, and March 31, 2026, was about $9,454, roughly one-third of Trump's claim.
- The largest average increase by age group was about $16,000 for those aged 55 to 59, still significantly below the $30,000 figure.
- 401(k) balances grow more slowly than the stock market due to diversified asset mixes, contributions, and withdrawals, with hardship withdrawals increasing in recent years.
- PolitiFact rated Trump's statement as Mostly False, noting it contains some truth but omits key context that would alter the overall impression.
