Morgan Stanley Survey: 401(k) Plans Rival Healthcare as Top Valued Benefit

• Perceived value of 401(k)s rose +2x since 2024.
• Plan sponsors are focused on participant understanding, retirement readiness and personalized engagement.

NEW YORK--(BUSINESS WIRE)--Morgan Stanley today released findings from its 2026 Retirement Plan Survey, showing plan sponsors now believe defined contribution (DC) plans have become employees’ most valued workplace benefit, tied only with healthcare. This increased emphasis on 401(k) plans raises the stakes as plan sponsors prioritize helping participants take full advantage of their defined contribution plan.

As more Americans approach retirement, organizations are adapting plan design, participant education and engagement strategies — and plan sponsors are finding more personalized ways to educate and engage participants.

Key data points from the survey include:

• 34% of plan sponsors say the DC plan is employees’ most valued benefit (vs. 15% in 2024).
• 93% rank DC plans among employees’ top five benefits, tying healthcare.
• 45% cite helping employees understand the plan as a top concern.
• 69% rank their investment advisor/consultant as one of the top three most valuable resources in assessing their plan’s lineup.

“Retirement benefits are having a marquee moment. When plan sponsors say they think employees value 401(k)s on par with healthcare, it signals a fundamental shift in how we define both financial security and workplace benefits," said Jeremy France, Head of Institutional Consulting Solutions at Morgan Stanley. "For the retirement industry, the takeaway is clear: Plan design is only half the equation. Helping people understand, engage with and use their plan is what will elevate decent benefits to key differentiators.”

Survey Methodology
Morgan Stanley surveyed 200 retirement plan sponsors between July and August 2026. Respondents represented organizations with at least $50 million in defined contribution plan assets and included investment decision-makers responsible for plan investment lineups, participant engagement and plan administration. The research was conducted by independent research firm 8 Acre Perspective.

About Institutional Consulting Solutions
Institutional Consulting Solutions (ICS) combines the personalized attention of a boutique firm with the global reach and resources of Morgan Stanley, offering comprehensive consulting and fiduciary solutions tailored to a diverse range of clients—including corporations, foundations, endowments, Taft-Hartley plans, healthcare organizations, insurers, and educational, professional, faith-based, and government entities. ICS provides customized investment strategies, ongoing portfolio monitoring, rigorous risk analysis, discretionary services and cash management to ensure alignment with our clients’ unique objectives and risk profiles.

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About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

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