Inside the Minds of Plan Participants: The Future Comes into Focus

AB’s proprietary insights on DC plan participants shed light on evolving attitudes and perspectives about retirement, helping plan sponsors understand their needs and pursue better outcomes.

We Have Identified Three Distinct Investor Personas

Who’s Who Among Participants?
 

We know from our research that plan participants have varying degrees of investment sophistication, confidence and engagement. If plan sponsors and providers approach participants by targeting the strengths and weaknesses of their personas, it may be possible to increase the knowledge of each group—and ultimately the retirement savings for all.

Source: All data sourced from AllianceBernstein (AB) Inside the Minds of Plan Participants research, 2023

About AB’s Defined Contribution Research

The Defined Contribution (DC) team at AllianceBernstein (AB) has conducted annual surveys of employees since 2005 and biennial surveys of plan sponsors since 2006. These snapshots help us understand the attitudes and behaviors of workers toward retirement saving, the changing state of DC plans, and the concerns, perspectives and strategies of plan sponsors. We want to share this research with plan sponsors.

We believe it will help them understand how to lead participants to better savings outcomes and more comfortable, confident retirements. We conducted our 14th annual web-based plan-participant survey in June 2021. It was based on a national sample of 1,200 employees. Of these, 1,015 were full-time workers participating in a workplace retirement savings plan at their current employer and 185 were retirees who had previously worked full time and participated in a workplace savings plan.

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