Background: We’re taking a moment to reflect on last year’s most popular Research Minutes, which explored a wide range of topics across the defined contribution industry, including accredited investor status for 401(k) millionaires, target date strategies, Social Security knowledge, and workplace financial wellness, including student loan debt repayment resources. In 2025, there were 29 Research Minutes, including 19 guest contributors from Alight, Alliance Bernstein, Allianz, Bank of America, BlackRock, Center for Retirement Income at The American College of Financial Services, Corebridge, Goldman Sachs, iCapital, JP Morgan, MFS, MissionSquare, Morningstar, PGIM, T.Rowe Price, Vanguard and Voya. Our Research Minute distribution surpassed 4,000 individuals with an open rate that is 2x the industry average. In 2025, the publication generated more than 81,000 views, underscoring its relevance, visibility, and influence across the retirement industry landscape.Findings:The awards for the top 2025 Research Minutes go to…Highest open rateAre 401(k) millionaires financially literate? (August 20, 2025)Guest Contributors: David Blanchett, PGIM, and Drew Carrington, iCapitalThis Research Minute explores how accredited investors are presumed financially sophisticated, yet the SEC has questioned whether qualified retirement assets should count toward net worth, citing concerns about limited investor experience. Analysis of the Federal Reserve’s 2022 Survey of Consumer Finances finds that households with substantial qualified retirement savings are generally more financially literate. Reaching “401(k) millionaire” status typically reflects decades of sound financial decision-making, suggesting that excluding these assets may understate true financial sophistication.Highest click rateTarget date strategies and advice: What is the impact of spending and savings differences? (June 11, 2025)Guest Contributor: Kimberly Stockton, VanguardThis Research Minute examines how personalized advice can improve retirement outcomes across varied saving and spending behaviors. Advice is particularly impactful for both high savers with conservative spending patterns and those who save and spend less optimally—by supporting effective portfolio construction, goal setting, and financial planning.Highest shares and forwardsDoes the Social Security knowledge gap affect people’s confidence? (May 7, 2025)Guest Contributors: Sudipto Bannerjee and Roger A. Young, T. Rowe PriceThis Research Minute identifies significant gaps in Social Security knowledge, highlighting the need for improved retirement education and guidance. While most pre-retirees (92%) understand that early claiming reduces benefits, fewer (62%) recognize the advantages of delaying beyond full retirement age. 28% of individuals age 62 and older mistakenly believe benefits begin automatically at 65. Knowledge of expected benefits is limited, as only 45% of workers over 50 know their approximate monthly benefit and just 38% express confidence in Social Security’s future payments. These findings point to a clear opportunity for plan sponsors, advisors, and policymakers to strengthen education, integrate guidance, and support long-term program sustainability.Most popular RRC-authored Research MinuteWhat do our employee focus groups provide about financial wellness? (January 22, 2025)This Research Minute draws on a collaboration between RRC and AARP, based on focus groups with low- to moderate-income participants in workplace defined contribution plans. Participants expressed strong demand for financial wellness programs that are free, practical, relevant, and unbiased, with a preference for third-party administration. Key needs spanned near- and long-term priorities, including debt management, investing, and homeownership. While interest in employer-sponsored programs was high, limited understanding of program scope highlights a disconnect between participant needs and existing offerings.Honorable mentionHow do employer-provided student loan resources impact employee financial well-being across sectors? (July 9, 2025)Guest Contributors: Zhikun Liu, MissionSquare, and Eric Ludwig, The Center for Retirement Income at The College for Financial ServicesThis Research Minute examines the relationship between student loan debt, financial well-being, and employer-provided resources. Public sector employees were more likely to hold student loan debt than private sector employees (43% vs. 36%). Among those who had repaid their loans, public sector workers showed little residual impact on CFPB financial well-being scores, while private sector workers continued to experience reduced well-being. This persistent “debt overhang” in the private sector likely reflects delayed wealth accumulation, whereas access to loan forgiveness programs appears to mitigate long-term effects for public sector employees. The findings also indicate that communication alone is insufficient; employers that offer broader financial resources, including debt management support, can meaningfully improve employee financial well-being.Bottom Line: Congratulations to all of the winners and thank you to all of our guest contributors for sharing their thought leadership through Research Minutes. We encourage all RRC members to submit your organization’s research or topic ideas for future editions by signing up here or emailing us at rrc@dciia.org.