The survey of 1,510 U.S. adults reveals a growing friction between employer-led plan designs and the preferences of those nearing retirement. Although target date funds remain popular during the accumulation phase, their utility declines significantly once investors reach retirement age, as individuals shift their focus toward bespoke strategies involving tax efficiency and real returns. This transition often leads participants to move their assets out of employer-sponsored plans, particularly those who engage external financial advisors.
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Retirement Savers Demand Control Over Automated Financial Defaults
Seventy percent of retirement plan participants prioritize liquidity and personal agency over guaranteed income, according to a 2026 study by Allspring Global Investments. While employees generally welcome professional guidance, the research indicates that rigid default strategies often fail to account for the diverse, highly individual definitions of financial success.
Professional advice usage climbs from 27% among early-career workers to 73% for retirees, creating a strategic dilemma for plan sponsors. Nate Miles, head of Retirement at Allspring, notes that participants no longer fit into single-model categories. To retain assets, firms must move beyond standardized defaults and offer flexible, income-focused choices that acknowledge specific investor personas—ranging from those seeking safety to those prioritizing aggressive tax management.
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