2021 Defined Contribution
Plan Participant Survey Findings
Our sixth biennial Defined Contribution (DC) Plan Participant Survey was conducted as the COVID-19 pandemic disrupted financial markets, workplace trends and spending patterns. Against this backdrop, participants remained broadly resilient in maintaining their retirement savings efforts, but many also continued to appear overwhelmed and unsure about the various aspects of retirement planning.
METHODOLOGYIN JANUARY 2021, WE PARTNERED WITH GREENWALD RESEARCH, a market research firm based in Washington, D.C., to conduct an online survey of 1,281 defined contribution plan participants. To qualify for the study, each respondent had to be employed full-time at a for-profit organization with at least 50 employees, be at least 18 years old and have contributed to a 401(k) plan in the past 12 months.
Survey results have been weighted by age, gender and household income to reflect the overall makeup of the general population of 401(k) plan participants. In a similarly sized, random sample survey of general population respondents, the margin of error (at the 95% confidence level) for the total population in this study would be plus or minus approximately 2.8 percentage points.