decorative
decorative

March 2025

2024 MFS DC Plan Sponsor Survey: Building Better Outcomes

Explore the results of MFS' 2024 MFS DC Plan Sponsor Survey! The findings explore key topics such as plan sponsor confidence, retirement income, investment menus, and plan design. New this year, we introduce the MFS Workplace Retirement Readiness Indicator—our proprietary scoring framework designed to measure participant confidence based on a series of targeted responses.

Print

AUTHORS

Jonathan Barry
Managing Director
Strategy and Insights Group

Jeri Savage
Retirement Lead Strategist
Strategy and Insights Group

How confident are plan sponsors in their participants’ ability to retire comfortably?

The latest MFS DC Plan Sponsor Survey captures insights from 166 U.S. plan sponsors managing over $125 billion in assets and covering more than 1.1 million participants1. Complemented by perspectives from over 4,000 plan participants and retirees globally, this report examines key trends shaping the defined contribution (DC) landscape and identifies gaps between employer strategies and employee expectations.

Key Insights from the Report

  • Plan Sponsor Confidence is Low: Only 18% of plan sponsors are very or extremely confident their participants will retire when they want to—compared to 36% of participants who feel the same.
  • Retirement Income Remains a Challenge: While 48% of plan sponsors are exploring in-plan retirement income solutions with their consultants, only 9% are extremely likely to implement one in the next 12–18 months.
  • Investment Menus Are Evolving: 87% of plans use target date funds (TDFs) as their QDIA, but sponsor priorities don’t always align with participant preferences when selecting investments.

Introducing the MFS Workplace Retirement Readiness Indicator (WRRI):

A new proprietary confidence score that helps measure plan sponsor confidence in participant retirement readiness. This year’s average score? C+, signaling room for improvement.

What This Means for You

The survey highlights actionable opportunities for plan sponsors to improve retirement confidence, including:
✔ Optimizing plan design to drive engagement and deferral rates
✔ Reevaluating investment menus to align with participant needs
✔ Enhancing access to advice to support personalized retirement strategies

Discover how plan sponsors can drive better retirement outcomes. 

Get the Full Report

1 Responses to plan size and number of participants were provided as ranges. Calculations used the conservative low end of each range to arrive at an asset size and participants. Numbers are likely higher.

57571.2
close video