The pandemic haves and have nots: 401(k) balances hit record levels, creating more millionaires. Others struggle to save at all.

The average 401(k) balance increased to a high of $129,300 in the second quarter of 2021, up 24 percent from the same period a year ago. The average 403(b) account balance increased to a record $113,300, also up 24 percent. The average IRA balance was $134,900, a 21 percent jump over the same period in 2020.