Most employers support embedding guaranteed lifetime income options into DC Plans

NEW YORK, April 28, 2026 — Released today, MetLife’s 2026 Lifetime Income Poll finds that defined contribution plan sponsors increasingly support approaches that help workers convert retirement savings into a dependable income stream. Nine in 10 DC plan sponsors (90%) say the core purpose of a DC plan should be to serve as an income source during retirement, signaling broad employer alignment around lifetime income options in 401(k) plans and strong engagement with the policy conversation shaping retirement outcomes.

Summary findings

• 95% say they are knowledgeable about efforts by policymakers and the U.S. Departments of Labor and Treasury to strengthen Americans’ retirement security through lifelong retirement income options.
• 59% support requiring 401(k) plans to offer lifetime income at retirement, and 54% support defaulting a portion of savings into guaranteed income.
• 66% would support a SECURE 3.0 package that includes retirement income.
• 83% say lump sums alone may not protect against outliving savings, up from 72% in 2016.

 What are plan sponsors saying about retirement income now?

MetLife’s poll indicates plan sponsors are increasingly focused on what happens when workers transition from saving to retirement income. Sponsors also appear more aligned on policy approaches that expand access to lifetime income options. Among sponsors who already offer these solutions, support is stronger, with 81% backing mandates and 72% favoring defaults.

The urgency is rising as more Americans approach retirement with longer life expectancies, higher costs of living and ongoing market volatility. Over the past several decades, responsibility for retirement outcomes has shifted away from employers and toward individuals through workplace DC plans. According to the Employee Benefit Research Institute, participation in private-sector defined benefit (DB) pension plans fell from 28% of wage and salary workers in 1979 to less than 1% in 2024, while participation in DC plans rose from 7% to 44% over the same period.

What do these findings suggest for retirement policy discussions?

Plan sponsors are signaling that retirement income is a core workplace outcome, and many are looking for frameworks that help translate savings into sustainable income. MetLife’s research also shows increased support for the idea that encouraging workers to consider guaranteed lifetime income options represents sound public policy, with 82% agreeing, up from 62% in 2016.

“With record numbers of workers reaching retirement age and responsibility for successful outcomes shifting to DC plans, the question is no longer whether retirement income matters, but whether the system is equipped to deliver it at scale,” said Roberta Rafaloff, head of Institutional Income Annuities at MetLife. “Retirement confidence depends on plans that deliver dependable paychecks, not just savings at retirement.”

About the poll

The MetLife 2026 Lifetime Income Poll was fielded February 3-16, 2026. MetLife commissioned MMR Research Associates, Inc. to conduct the online survey of DC plan sponsors whose company offers a 401(k) plan. There were 242 DC plan sponsors who participated in the survey, representing a broad range of DC plan asset sizes. Among the plan sponsor-respondents, 66% reported DC plan assets of $250 million or more, with 12% having assets greater than $1 billion. To read the full report, visit: metlife.com/2026LifetimeIncomePoll.