52% of DC plan participants would invest in private assets

52% of participants in 401(k), 403(b) and 457 plans say they would invest in private equity and private debt if their employer plan offered access, according to the Schroders 2026 U.S. Retirement Survey, first reported by InvestmentNews.

That share is up from 45% in 2025 and 36% in 2024. The survey was fielded by research firm 8 Acre Perspective between March 20 and April 15, 2026, among 1,500 U.S. investors ages 30 to 79, including 615 workplace retirement plan participants.

42% expect private assets to be available in their plan within five years, up from 30% in 2025. 78% say private assets can improve a 401(k) portfolio through diversification, and 77% say they offer a pathway to greater investment returns.

For advisors who sit with plan committees, the key figure is 81%: among the 52% who would invest, that share said they would increase their overall contribution rate as a result, up from 77% in 2025. If participants follow through, a higher contribution rate would raise plan balances and improve the savings outcomes sponsors review. The survey records stated intentions, not measured payroll data.

Among participants who say they would invest, 49% would put less than 10% of their retirement savings into private markets, 39% would allocate between 10% and 15%, 7% more than 15%, and 5% were unsure. That distribution suggests a diversifier sleeve, one that could fit inside a target-date series or as a standalone option.

In March 2026 the Department of Labor proposed a regulation creating safe harbors for plan fiduciaries selecting alternative investment options, a step many in the industry called critical to bringing private markets into DC plans. The proposal's terms, and how much procedural cover they give a committee adding a private-markets sleeve, are the gating item for sponsors.