J.P. Morgan Asset Management has released its 2026 Defined Contribution (DC) Plan Participant Survey, finding that retirement plan participants — particularly younger workers — increasingly expect employers to provide more guidance and support as they plan for retirement.

The biennial survey examines how participants engage with workplace retirement plans across different life stages and explores attitudes toward retirement savings, retirement income and financial planning amid ongoing economic uncertainty.

“This ongoing research is important for retirement planning conversations because it captures direct feedback from participants at every stage of the retirement journey,” said Alyson Frost, head of retirement insights at J.P. Morgan Asset Management. “Workplace plans matter to participants and many still do not feel confident making the right decision on their own.

“They want retirement decision-making made simpler, and they welcome support from their plans in turning savings into retirement income.”

New survey additions

For the first time, the survey included retired defined contribution plan participants to better understand how they transitioned into retirement and what they would have done differently.

Among the findings:

  • 44% of participants expect to transition into retirement gradually by reducing work hours, while only 12% of retirees said that reflected their actual experience.
  • Only 35% of participants believe Social Security will cover their routine retirement expenses, with confidence declining as retirement approaches.
  • 86% of Gen Z respondents believe employers have at least some responsibility to help employees save for retirement, compared with 61% of baby boomers.

Participants want more guidance

The survey found growing demand for simpler retirement planning tools and greater employer involvement.

Additional key findings:

  • 73% of participants said they wish they could “push an easy button” and fully delegate retirement planning and investing, up from 55% in 2016.
  • 91% expressed interest in guaranteed retirement income options within their retirement plans.
  • 75% said they would likely keep assets in their employer-sponsored plan if it offered a retirement income solution.
  • 59% believe they should be contributing more to their retirement plans.
  • 63% of retirees said they wish they had contributed more while working.
  • 53% of participants do not know how much they need to save for a secure retirement.
  • 96% of participants automatically enrolled in their retirement plans reported being satisfied.
  • 97% of those whose contributions increased automatically also reported satisfaction.

Reverse mortgage help

Today, integrating housing wealth, including reverse mortgages, into retirement strategies is shifting from a niche financial move to mainstream.

Ryan Ponsford, a southern California-based adviser with Equity Wealth Strategies, laid out potential benefits in a recent talk with HousingWire.

“Once advisers start understanding the flexibility you can get by putting this line of credit in place sooner rather than later, it opens their eyes to a ton of different things,” he said. “Once they get their head around the choice of a loan that requires a payment, versus one that has a voluntary payment, which do I want? If I have a HELOC that’s static, I have to make payments on it and it locks down after a number of years, or I have one that’s completely fluid and revolving — and by the way, my access to equity increases every single month — which sounds better?”

This fluid access to home equity addresses the exact pressures retirees face from rising living costs, said Shannon Robinson, senior vice president of New American Funding’s (NAF) reverse division.

“As active adults are looking for ways to navigate inflation and create financial flexibility, home equity is becoming an increasingly important part of the retirement conversation, and NAF is very much focused on that,” she said. “NAF took a really strong step into looking into the business and said, as a top 10 independent mortgage banker, we have a suite of products that we offer to our larger organization, and we really need to step into and explore additional options in the way of reverse mortgages.”

Emergency savings remain a challenge

J.P. Morgan research also found that financial emergencies continue to drive retirement plan loans and withdrawals.

Among participants who borrowed from their retirement plans, 45% said they did so to cover unexpected expenses or credit card debt.

Participants without emergency savings were nearly 70% more likely to take a retirement plan loan or withdrawal.

“This year’s survey results highlight opportunities to help more participants achieve the retirement they have earned. It is clear that many want more guidance on how to use their plans effectively,” said Meghan Conklin, vice president of retirement insights at J.P. Morgan Asset Management. Continued advancements in plan design, savings tools, and both accumulation and decumulation solutions are helping to close this gap and enhance how participants think, act and engage with their retirement plans.”

This article was written by Jonathan Delozier and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication.

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