RESEARCH |

2022
Participant Survey

The survey examines the attitudes and behaviors of American workers participating—or not—in an employer-sponsored retirement plan.

Reported by PLANSPONSOR | Art by Miriam Martincic
Participant Survey art by Miriam Martincic
Retirement Expectations
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Retirement Expectations

Age Hope/Expect to Retire

Before 55 years old
6.8%
57.5 years old
5.1%
60 years old
13.9%
62.5
10.6%
65
25.0%
67.5
13.1%
70
14.6%
72.5
1.1%
75
4.8%
After 75
5.1%

Confidence in Achieving Comfortable and Secure Retirement by Planned Retirement Age

Very confident
26.8%
Confident
26.9%
Somewhat confident
26.0%
Only a little confident
13.1%
Not at all confident
6.1%
Unsure
1.1%

Definition of Retirement

Delayed retirement (work until age/health forces retirement)
22.1%
Traditional retirement (age when eligible for Social Security benefits)
36.5%
Modern retirement (save enough to reach true financial independence)
22.8%
Phased retirement (reduce workload at current employer/industry)
9.0%
Semi-retirement (flexible work)
6.9%
Temporary retirement (plan to go back to work later)
2.0%
Unsure
0.8%

Have a Retirement Savings Goal

  • Yes
  • No

If Yes, Retirement Savings Goal

$100,000
11.6%
$250,000
13.0%
$500,000
14.0%
$750,000
7.5%
$1,000,000
15.7%
$1,500,000
9.8%
$2,000,000
13.2%
$2,500,000 or higher
15.3%

Income Sources in Retirement

DC plan accounts at current employer
84.0%
DC plan accounts at prior/partner's employer(s)
54.9%
IRAs (Traditional, Roth, or Rollover)
45.8%
Nonqualified plan
23.5%
Real estate equity
26.4%
Any other accounts designated for retirement
26.9%
Social Security
59.6%
Inheritance
29.8%
Traditional pension plan
30.5%
Other
14.0%

Expectations for Future Pension/DB Benefits

Currently collecting pension from a current/prior employer
22.2%
Expect to receive accrued pension from current employer
16.6%
Expect to receive accrued pension from prior employer
4.9%
Not expecting
48.6%
Unsure
7.8%