Key Takeaways
- • BlackRock's survey of 1,000 registered U.S. voters, conducted by Public Opinion Strategies from January 21 through 26, found nearly two-thirds support policies expanding retirement plan investment options to private market assets such as real estate, infrastructure and private companies.
- • 64% of respondents said retirement plans should offer the same investment access regardless of whether the sponsor is a for-profit or nonprofit company, a gap given that certain government worker pension plans can invest in options unavailable to private-sector plans.
- • Only 2.9% of defined contribution plans included alternative investments such as private equity in 2026, down from 3.9% the prior year, according to the PLANSPONSOR Defined Contribution Plan Benchmarking Survey.
- • Support for alternatives was bipartisan, with 65% of Republicans, 66% of independents and 62% of Democrats backing expanded options, and 71% supporting Trump Accounts for children.
- • 30% of respondents reported having no retirement savings, rising to 45% among Gen Z, and 63% had less than $150,000 saved, excluding home value.
Summary
BlackRock Inc., which offers clients access to private investments, released a study titled "Redefining Retirement—It's All of Our Work," which found that U.S. voters broadly favor expanding retirement plan access to private markets. Nearly two-thirds of the 1,000 registered voters surveyed said they support policies that would add private market assets, including real estate, infrastructure projects and private companies, to retirement plan investment menus. The survey was conducted by Public Opinion Strategies on BlackRock's behalf from January 21 through January 26, with a margin of error of 3.1%, according to BlackRock.
The study also highlighted a disparity in access. Sixty-four percent of respondents said retirement plans should offer the same investment options whether sponsored by for-profit or nonprofit companies. Currently, certain pension plans for government workers can invest in options unavailable to plans offered by private-sector employers and nonprofits.
Actual adoption remains limited. According to the 2026 PLANSPONSOR Defined Contribution Plan Benchmarking Survey, only 2.9% of plans included alternative investments such as private equity, down from 3.9% a year earlier. Adviser interest appears to be rising, however. Escalent's "2025 Retirement Plan Advisors Trends" report, based on September 2025 data, found that one-quarter of surveyed defined contribution plan advisers were likely to recommend alternatives following President Donald Trump's August executive order encouraging such investments, and another 10% already did so.
Support cut across political lines, with 65% of Republicans, 66% of independents and 62% of Democrats backing further investment options. The survey also found strong backing for tax-advantaged child savings accounts, known as Trump Accounts or 530A accounts, with 71% support, including 81% of Republicans, 72% of independents and 61% of Democrats. The federal government will grant $1,000 to qualifying children born between 2025 and 2028 under the pilot program, and BlackRock is among companies that have announced expected matching contributions for employees' children once the pilot begins in July.
The study also points to persistent savings shortfalls. Thirty percent of respondents said they had no retirement savings, including 45% of Generation Z respondents and 38% of rural voters. Sixty-three percent had less than $150,000 saved for retirement, not counting the value of their home.
The study also highlighted a disparity in access. Sixty-four percent of respondents said retirement plans should offer the same investment options whether sponsored by for-profit or nonprofit companies. Currently, certain pension plans for government workers can invest in options unavailable to plans offered by private-sector employers and nonprofits.
Actual adoption remains limited. According to the 2026 PLANSPONSOR Defined Contribution Plan Benchmarking Survey, only 2.9% of plans included alternative investments such as private equity, down from 3.9% a year earlier. Adviser interest appears to be rising, however. Escalent's "2025 Retirement Plan Advisors Trends" report, based on September 2025 data, found that one-quarter of surveyed defined contribution plan advisers were likely to recommend alternatives following President Donald Trump's August executive order encouraging such investments, and another 10% already did so.
Support cut across political lines, with 65% of Republicans, 66% of independents and 62% of Democrats backing further investment options. The survey also found strong backing for tax-advantaged child savings accounts, known as Trump Accounts or 530A accounts, with 71% support, including 81% of Republicans, 72% of independents and 61% of Democrats. The federal government will grant $1,000 to qualifying children born between 2025 and 2028 under the pilot program, and BlackRock is among companies that have announced expected matching contributions for employees' children once the pilot begins in July.
The study also points to persistent savings shortfalls. Thirty percent of respondents said they had no retirement savings, including 45% of Generation Z respondents and 38% of rural voters. Sixty-three percent had less than $150,000 saved for retirement, not counting the value of their home.
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