By the end of this year, an estimated over $809 billion in market gains will be added to the defined contribution system. This powerfully demonstrates how well-structured investment options directly impact participant outcomes. A major driver? The widespread adoption of Target-Date Funds, now representing a remarkable 78% of participants’ balanced portfolios.

Our 2025 Defined Contribution Data Dashboard shows nearly 1,095,149 defined contribution plans will be serving American workers. This isn't just a number; it's a testament to explosive growth in workplace retirement plan adoption, with nearly 100,000 new plans added last year alone.

Plan loans are a unique feature of the defined contribution system, offering participants a way to tap into their retirement savings during times of need while keeping their accounts tax-advantaged. With 90% of employers offering loan provisions, they're a critical tool as consumer debt soars.

Are we truly maximizing the power of the employer match? For every $1 an employer matches, the average participant contributes $2, suggesting room to increase match rates. While a seemingly modest part of benefit budgets, employer matching is a powerful incentive for retirement savings, recruitment, and retention. We anticipate employers will contribute over $275.4 billion in matching funds in 2025, demonstrating a strong commitment to employee financial security. Yet, our new research reveals critical areas for improvement to reduce the significant disparities in match distribution and investigate the underutilization among younger workers.

The power of individual savings rates in workplace retirement plans is undeniable. Auto-enrollment and auto-escalation have reshaped how Americans save, even as financial pressures continue to mount for many. We project participants will contribute over $466.7 billion to their workplace retirement accounts by the close of 2025, a clear sign that plan features and regulations are making an impact. Yet, a persistent gap between average and median contributions signals ongoing challenges for typical savers dealing with debt and other priorities. How can we bridge this divide?

Consolidating multiple accounts could boost participant balances by 36% within ten years. Meanwhile, innovations in larger plans, like the proliferation of CITs are reducing costs for participants. The data shows we're not just managing retirement plans – we're stewarding the financial future of American workers. Now, it’s about making every current and potential dollar count. What's driving total plan asset growth in the defined contribution system?

By the end of this year, over $100 billion will be cashed out, draining individual retirement security and the broader defined contribution system. While the median cash-out is under $2,000, the aggregate impact is immense.

Over $702 billion in rollovers is estimated to leave the defined contribution system by the end of this year, primarily flowing into IRAs where assets can sit, either uninvested or underperforming for participants.

Job changes are a fact of modern careers, but what’s the direct impact on retirement savings? With workers changing jobs over 12 times and spending more years in the workforce, consolidating workplace assets essential for retirement. While we project nearly $84.4 billion will be rolled into active defined contribution plans by year-end 2025, the fact emains: only about 1 in 10 participants who start the rollover process actually complete it. This systemic friction costs us all.