It's been a tough year for 401(k) savers -- and investors across the board. The stock market has been horrendously volatile since the start of 2022. And as a result, a lot of retirement savers are sitting on lower balances now than they were a year ago.

Fidelity reports that the average 401(k) balance during the third quarter of 2022 was $97,200. By contrast, the average 401(k) plan balance during the second quarter of the year was $103,800.

Now that quarterly decline doesn't look so steep. But when we compare the most recent average balance of $97,200 to the average $126,100 balance savers had during the third quarter of 2021, it paints an uglier picture.

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Source Fool.com