Key facts
- 73% of retirement plan participants wish they could delegate all retirement planning and investing.
- 91% of participants are interested in guaranteed retirement income options within their plans.
- 44% of participants expect to transition into retirement gradually by reducing work hours.
- 35% of participants believe Social Security will cover their routine retirement expenses.
- 45% of participants who borrowed from retirement plans did so for unexpected expenses or debt.
- Younger workers, particularly Gen Z, expect employers to provide more retirement savings support.
Retirement plan participants, particularly younger generations, are increasingly seeking simplified planning processes and greater employer support, according to the 2026 Defined Contribution (DC) Plan Participant Survey by J.P. Morgan Asset Management. The survey found that 73% of participants wish for an 'easy button' to delegate retirement planning and investing entirely, a significant increase from 55% in 2016. Many participants also expressed strong interest in guaranteed retirement income options within their plans, with a majority indicating they would keep assets in their employer-sponsored plan if such a solution were available.
The research also highlighted a disconnect between participants' expected retirement transition and retirees' actual experiences, with fewer retirees gradually reducing work hours than anticipated. Confidence in Social Security covering routine expenses is low and declines as retirement approaches. Younger respondents, especially Gen Z, feel employers bear a greater responsibility for helping employees save for retirement compared to baby boomers.
Financial emergencies continue to impact retirement savings, with nearly half of those borrowing from their plans citing unexpected expenses or debt. Participants without emergency savings are significantly more likely to take loans or withdrawals. The survey also noted the growing mainstream consideration of integrating housing wealth, such as through reverse mortgages, into retirement strategies, with advisors highlighting the flexibility and access to equity these products can provide.
Overall, the findings underscore a demand for enhanced plan design, improved savings tools, and comprehensive accumulation and decumulation solutions to help participants achieve their retirement goals.