Employees Find DC Plans ‘Essential,’ per ICI

Nearly half (47%) of surveyed U.S. adults in households that have a defined contribution retirement plan account credited those accounts as the sole reason they have retirement savings at all, according to ICI’s 18th annual survey, summarized in “American Views on Defined Contribution Plan Saving, 2025.”

Respondents younger than 35 and those 65 or older were most likely (49% for each group) to credit their DC plan as their reason for saving, demonstrating that valuing access to DC plans transcends generations. Those between the ages of 35 and 64 were at most five percentage points less likely than the older and younger cohorts to credit their plans.

“Workplace retirement plans are essential to helping Americans save for their future, thanks to key 401(k) features like payroll deductions, a broad range of funds to invest in and tax advantages,” said Shelly Antoniewicz, ICI’s chief economist, in a statement. “These plans give Americans of all income levels the chance to invest and to control their investments. Policymakers should protect the successful retirement structure Americans value and continue to benefit from.”

Nearly all respondents (92%) said having a payroll deduction mechanism in their plan made saving for retirement easier. A similar proportion (91%) agreed that their DC account helped them think about their long-term needs.

Respondents also demonstrated interest in preserving the tax advantages of DC accounts—regardless of whether they had one or not. Of DC-account-owning individuals in the survey, 87% said they opposed eliminating the tax advantages, while 78% of those with neither DC accounts nor individual retirement accounts also stated they opposed removing the tax benefits.

ICI’s survey was conducted in fall 2025 among 1,599 DC- or IRA-owning adults and 576 adults not owning DC retirement accounts or IRAs.