Inside the Minds of Plan Participants:
Real Attitudes. Real Decisions. Pathways to Improve Retirement Outcomes.
Key Takeaways from AB’s Latest Survey
AI and Human Guidance: Not an “Either/Or” Proposition
Participants still value human guidance but are opening up to AI. Combining them enables AI to enhance personalization, efficiency and access, while preserving the trust and judgment of human advice.
Targeted Support Can Help Boost Women’s Retirement Readiness
Women are half of the workforce but approach retirement savings differently. Many feel unprepared, due to a confidence gap. Targeted, holistic support can boost their financial optimism and help them build a more secure retirement.
A Desire for Control, Growth and Automatic Lifetime Income
Participants want a seamless transition from work paycheck to reliable retirement income—their top goal. They also prize solutions that offer protection, control and growth potential as well as income that starts automatically at retirement.
Private Markets: More Color Needed, but Potential Is Clear
Participants may not fully understand all the nuances of private markets at this point, but they do recognize that these investments have the potential to boost returns and improve portfolio diversification within their retirement savings.
What Today’s Retirees Wish They Had Known Sooner
Retirees’ real-world experiences with saving, spending and navigating economic uncertainty offer valuable insights into the financial realities of retirement and the decisions that shape long-term outcomes.
Distinct Investor Personas Demand Tailored Plan Engagement
Our research identifies three distinct investor personas: Capable, Eager and Conservative. Each has unique behaviors and needs, underscoring how important it is to tailor engagement to drive better outcomes.
AI and Human Guidance: Not an “Either/Or” Proposition
Human Advisor or AI? Why Not Both?
Individuals have different views on human and AI guidance, but familiarity with AI is growing. Ultimately, these insights highlight that preferences come down to individual comfort, expectations and trust rather than a single “right” approach. Plan sponsors have the opportunity to combine the best of both worlds.
Which Financial Advice and Guidance Plan Would You Have More Confidence Using?
Old-School Advice Meets New-School Intelligence
Harnessing the power of AI can enhance efficiency, personalization and accessibility. Maintaining the trust and judgment that comes with human advice is also powerful. With old school and new school, each brings something to the table.
Targeted Support Can Help Boost Women’s Retirement Readiness
Women Are More Concerned than Optimistic About Retirement
Many women are less confident than men about retirement and underestimate their financial knowledge, even though broader data shows they’re more financially literate than they think. Holistic, targeted communication may help—empowering them to build a more secure, confident path to retirement.
A Desire for Control, Growth and Automatic Lifetime Income
Near-Universal Appeal for Automatic Lifetime Income
Participants overwhelmingly want a solution with a reliable income stream, growth potential and control, with retirement income starting automatically. And it should be simple, making savings easier and keeping them appropriately invested throughout their lives.
When You Think About Your Workplace Retirement Plan, How Important Is It That It Offers a Feature That Makes It Easy to Begin Receiving Regular Monthly Income Payments from Your Account When You Retire?
Private Markets: More Color Needed, but Potential Is Clear
Participants See Potential for Private Markets to Improve Outcomes
A majority of participants are open to including private assets in their plan investments and see the benefits once they understand their role, though many still want to know more about how private assets work. That’s an educational opportunity for plan sponsors.
Do You Believe That Private Markets Should Be Included In Your Retirement Plan Investments as a Part of Your Long-Term Retirement Savings Portfolio?
What Today’s Retirees Wish They Had Known Sooner
Retirees Don’t Get a Do-Over: What They Would Have Changed
Retirees’ real-world perspectives on saving and spending help others make more informed decisions. In today’s landscape, which features concerns about safety nets, the economy and inflation, learning from retirees’ experiences helps others better prepare for life after work.
If You Could Prepare for Retirement All over Again, Which of the Following Actions Would You Take That You Didn’t Take Before?
Put More Away for Retirement from Monthly Earnings
Take Better Care of Your Health
Work Longer
Learn More About Personal Finances
Develop a Budget/Plan for Retirement Spending
Seek Professional Financial Advice
Participants, Are You Happy? “You Bet We Are”
Plan participants have plenty to feel good about. Nearly six in 10 (59%) rate their overall happiness an eight or higher, while just 2% report low levels of happiness. It’s an encouraging reminder that financial considerations are only one piece of the broader life-satisfaction puzzle—and that participants remain remarkably positive about their lives.
Distinct Investor Personas Demand Tailored Plan Engagement
Understanding Personas: Participants Aren’t “One Size Fits All”
Participants have distinct strengths, needs and behaviors. Personalized messaging and diverse delivery methods may improve engagement, financial understanding and retirement outcomes.
Capables
Capables are more advanced but benefit from guidance on risk and diversification.
Eagers
Eagers are motivated and tech-savvy but need simple direction to turn intent into action.
Conservatives
Conservatives need reassurance and simple solutions that build confidence in appropriate risk-taking.
