How Satisfied Are Workers with Their Workplace Retirement Plans?

While Americans were found to be less confident overall in their ability to live comfortably in retirement, one bright spot is that the vast majority of workers with a workplace retirement savings plan were found to be satisfied with their plans.

This comes from the newly released 2026 EBRI and Greenwald Research Retirement Confidence Survey (RCS),[1] which shows that 88% of workers offered a retirement plan are satisfied with their plan, and 85% say they are satisfied with the options and resources available to help them save.

What’s more, 83% said they are satisfied with the options and resources available to help them plan for income and financial management in retirement.

When asked what the most valuable improvements to their workplace retirement savings plan are, the most cited improvements are “more fund or investment options available/increased choice” at 37%, followed by “investment or insurance options that provide guaranteed lifetime income after they retire” at 35%.

ad space

EBRI further noted that several suggested improvements fell just below those two, including:

• more investment options designed for after they retire (30%),
• better explanations for whether they are on track with their retirement savings (29%),
• better explanations for how much income their savings will produce in retirement (26%), and
• better explanations for their investment options (20%).

Interestingly, “more options that invest in alternative investments, such as private equity, debt, commodities or real estate” came in at only 16%.

That said, workers who are offered a workplace retirement plan were more likely to say they understand various investment options either somewhat or very well. More specifically, nearly 8 in 10 (79%) of these workers say they at least somewhat understand retirement income options, and 76% say they understand managed accounts. Notably, only 64% said they understand target-date funds, despite them being more commonly offered.

Drilling down deeper, when plan participants were asked what they are most likely to do with their workplace savings when they retire, the most common answer was to roll it to an IRA (38%). This was followed by:

ad space

• cashing it out and putting it into another investment or savings account (30%),
• keeping the money in the workplace retirement savings plan (27%), and
• purchasing a product that guarantees monthly income for life (22%).

Overall Retirement Confidence

Beyond the positive workplace findings, however, the survey found that retirement confidence declined among both workers and retirees, with worries about inflation, debt, health care, housing and possible changes to the retirement system adding financial anxiety.

In fact, the RCS found that retirement confidence is down to its lowest level since 2017. EBRI reported that 6 in 10 American workers (61%) feel confident in their ability to have enough money to live comfortably throughout their retirement, with 21% feeling very confident. This overall confidence level is down from 67% in 2025.

Still, retirement confidence continues to be strongly related to retirement plan participation, whether in a DC plan, DB plan, or IRA. In this case, workers reporting that they or their spouse have money in a DC plan or IRA or have benefits in a DB plan are more than twice as likely as those without any of these plans to be at least somewhat confident (70% with a plan vs. 32% without a plan).

“Retirement confidence has clearly softened this year and the data show why,” noted Craig Copeland, director of wealth benefits research at EBRI. “Many workers are struggling with debt, inflation and rising housing and health care costs, while retirees are increasingly worried about the future of Social Security and Medicare. Together, those pressures are making it harder for people to feel secure about their retirement.”

ad space

Key Concerns

Underscoring those points, additional findings show that concern about changes to the retirement system remains high. In this instance, 7 in 10 retirees and 4 in 5 workers said they are concerned the government will make changes to the U.S. retirement system.

Confidence in the future value of Social Security and Medicare benefits also declined. Only about half of workers and 6 in 10 retirees said they are confident those programs will continue to provide benefits of equal value in the future.

Health care costs also continue to worry Americans before and during retirement. Nearly 6 in 10 workers said the cost of health care is hurting their ability to save for retirement, while 2 in 5 retirees said health care expenses in retirement have been higher than expected. What’s more, less than half of workers and retirees said they have calculated how much they will need to save for health care expenses in retirement.

EBRI further reported that workers increasingly expect to retire later and keep working in retirement. Although the median expected retirement age for workers remained 65 years old, a growing share said they do not plan to retire. Meanwhile, nearly a quarter of workers adjusted their target retirement age in 2025, with most moving it later. That said, most retired before age 65, with a median retirement age of 62, and nearly half said they retired earlier than planned.

ad space

“These findings underscore how retirement planning is becoming more complex for Americans across life stages,” observed Lisa Greenwald, CEO of Greenwald Research. “People are not only worried about whether they have saved enough, but also about how rising costs, health care needs and policy changes could reshape retirement itself. The results show a clear need for more guidance, better planning tools and solutions that help people turn savings into lasting financial security.”

The RCS was conducted online from Jan. 2–28, 2026, among 2,544 Americans ages 25 and older. The survey included a general population sample of 2,052 Americans, including 1,007 workers and 1,045 retirees, as well as an oversample of 492 caregiver respondents.

---

[1] Conducted jointly by EBRI and Greenwald Research, this is the 36th annual Retirement Confidence Survey — the longest-running survey of its kind.