Defined Contribution Plans Content

Defined contribution retirement plans have played a critical role in democratizing access to investing in the US. In 2025, approximately 80 million (about 60% ) US household held DC plan accounts. For many Americans, these plans represent not only a vehicle for retirement saving but also their primary introduction to investing in the capital markets.

Private markets play a growing role in economic growth and investment opportunities, yet most retirement savers have limited access to them. The DOL’s proposed safe harbor would make it easier for plan fiduciaries to include private market investments in defined contribution plans, underscoring the need for policy decisions grounded in rigorous economic analysis.

Private markets play an increasingly important role in capital formation, business expansion, and job creation, but access to those investment opportunities remains limited for most retail investors...

Findings from ICI's 18th annual survey on 'American Views on Defined Contribution Plan Saving' shows that nearly half of all Americans who have retirement savings in a 401(k) or similar plan say they probably would not save for retirement otherwise.