Most Prefer Professional Retirement Planning Help

Retirement plan participants want employer support for their retirement planning and decision-making, according to J.P. Morgan Asset Management’s 2026 Defined Contribution Plan Participant Survey.

The survey found that 73% of responding DC plan participants would hand over retirement planning and investing to a financial professional.

Younger cohorts largely expect employers to provide financial advice and weigh in on contributions and investments.

86% of Generation Z respondents said employers have a great deal or some responsibility in helping employees save for retirement planning.

Gen Z also had the largest share of respondents saying employers should provide financial advice and coaching on retirement planning.

This sentiment was shared by 70% of Millennials, 66% of Gen X, and 56% of Baby Boomers.

70% of surveyed Gen Z members and 57% of surveyed Millennials agreed that employers have an obligation to help employees pick right investments in retirement plans.

Most participants said they needed to contribute more to be on track for a financially secure retirement.

63% of retired participants felt they should have contributed more.

68% of participants claimed that retirement savings was their top financial goal, but 53% said saving for emergencies was a higher financial priority.

Plan leakage impacted many participants, with 27% reporting taking a loan or early withdrawal, and nearly one-fifth planning to do so in the future.

The most-cited reasons for leakage were unexpected expenses, credit card debt, helping family and loved ones, and healthcare.

More than three-quarters of participants said a steady stream of retirement income was a concern, and half did not think that Social Security would cover routine monthly expenses.

Just 35% thought Social Security benefits would be sufficient for routine expenses.

J.P. Morgan Asset Management found that 91% of participants and 78% of retirees were interested in an in-plan option for guaranteed income.

If the plan included a retirement income solution, 76% of participants said they would be somewhat or very likely to leave their savings in the plan.

Nearly two-thirds of participants used an adviser for guidance for plan decisions, with 43% using their own financial adviser and 32% using an adviser provided by their employer.

Participants who worked with financial advisers had higher financial preparedness, with 76% having an emergency savings fund, compared to 60% of those not working with advisers.

The survey combined data from market research firm Greenwald Research’s online survey of 1,716 DC plan participants in January and another survey of 512 retired DC plan participants aged 55 through 75.