GUIDANCE WANTED. CONTROL REQUIRED. NEW ALLSPRING RETIREMENT STUDY EXAMINES ONE OF RETIREMENT'S BIGGEST TRADE-OFFS

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Oct 12, 2026, 07:55 ET

CHARLOTTE, N.C., Oct. 12, 2026 /PRNewswire/ -- Allspring Global Investments™, a global asset management firm with $642 billion* in assets under advisement, released its 2026 retirement study, "The Retirement Decisions Defaults Can't Address," which suggests that retirement plan participants generally welcome help when it comes to decision-making, but not necessarily if it means relinquishing control or it doesn't recognize the individual's definition of success. The study, conducted by Allspring and the Retirement Research Center at DCIIA, surveyed over 1,500 U.S. adults and highlights the use of target date funds (TDFs), rollovers, advice, taxes, income solutions, and retirement timing.

Key findings and analysis:

Participants generally trust employers when it comes to plan design, but more than half of respondents still expect to move their savings at retirement (especially if they work with an advisor). Sponsors seeking to retain participants need to keep costs low, provide guidance, and offer retirement- and income-focused investment choices.
Nearly one-third of participants want guaranteed retirement income, but 70% of respondents said access and control are just as important as income protection. Sponsors considering in-plan annuity options should be mindful of these often-competing priorities and offer choices.
More than half of near-retirees surveyed hold some of their assets in TDFs, but their use drops sharply among retired respondents. That suggests TDFs are a useful asset allocation tool for some accumulators, but they fall short when it comes to the differing, more nuanced needs of investors in or near retirement.
Use of an advisor varies widely, from 27% in early career to 73% in retirement. Because professionally advised participants are more likely to move their savings out of a plan, sponsors should be intentional about whether their objective is to hang on to participants "to and through" retirement or facilitate their transition out of plan.
Even among participants with similar resources, the research reveals three personas with different success definitions: 45% value safety/predictability/access, 35% focus on real return, and 20% lean into tax efficiency. That puts the onus on sponsors to integrate disparate definitions of retirement success to shape how guidance is presented.

"Retirement decisions become far more personal as people approach and enter retirement," said Nate Miles, head of Retirement at Allspring Global Investments. "Our research suggests participants don't fit neatly into a single definition of success. They want guidance, but they also want flexibility and choice. The firms that will be most effective are those that can help people navigate increasingly complex decisions in ways that reflect what matters most to each individual."

To view the complete report, please visit 2026 Retirement Study | Allspring Global Investments.

ABOUT THE SURVEY
On behalf of Allspring Global Investments, the Retirement Research Center at DCIIA conducted a survey between June 25 and July 6, 2026, among 1,510 adults who were primary or joint household financial decision-makers and U.S. residents. The survey analyzed attitudes and behaviors around planning finances, saving, and investing for retirement. The sample consisted of 752 near-retirees (average age 62) and 758 retirees (average age 71) with at least $200,000 in household investable assets. Data are weighted as necessary by assets, age, gender, race/ethnicity, and region to reflect the actual population.

ABOUT ALLSPRING
Allspring Global Investments™ is an independent asset management firm with more than $642 billion in assets under advisement*, 18 offices globally, and investment teams supported by 360+ investment professionals. Allspring is committed to thoughtful investing, purposeful planning, and inspiring a new era of investing that pursues both financial returns and positive outcomes. For more information, please visit www.allspringglobal.com.

*As of June 30, 2026. Figures include discretionary and non-discretionary assets.

Allspring Global Investments^™ is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC). Associated with Allspring is Galliard Capital Management, LLC (an investment advisor that is not part of the Allspring trade name/GIPS firm).

This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind—including a recommendation for any specific investment, strategy, or plan.

Allspring Global Investments does not provide accounting, legal, or tax advice or investment recommendations. Any tax or legal information in this press release is merely a summary of our understanding and interpretations of some of the current income tax regulations and is not exhaustive. Investors should consult their tax advisor or legal counsel for advice and information concerning their particular situation.

SOURCE Allspring Global Investments