Target-Date Funds Boost Retirement Confidence

Survey finds TDF investors more optimistic about reaching goals and less stressed about planning

Feb. 5, 2026 at 7:47pm

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A new survey from Voya Investment Management reveals that retirement plan participants who invest in target-date funds (TDFs) feel significantly more confident about reaching their retirement goals compared to non-investors. The survey found that 71% of employed TDF investors feel confident about reaching their retirement goals, versus just 58% of non-investors. TDF investors also reported lower levels of stress around retirement planning.

Why it matters

As the retirement landscape continues to evolve, TDFs have become a central tool to help Americans navigate the complex journey from saving to spending, working to retirement, and anxiety to confidence. The survey findings underscore the importance for plan sponsors and financial advisors to offer TDF solutions that simplify retirement planning and empower participants.

The details

The survey found that 91% of employed TDF investors agree that investing in a TDF alleviates the stress of retirement planning, compared to 73% of non-investors. TDF investors were also nearly twice as likely as non-investors to strongly agree about their confidence in reaching retirement goals (25% vs. 13%). Additionally, 95% of employed TDF investors agreed that investing in a TDF increases their confidence in making good investment decisions, with 39% strongly agreeing.

  • The survey was conducted in March and April 2025.

The players

Voya Investment Management

The asset management business of Voya Financial, Inc. that conducted the survey on target-date fund investors.

Barbara Reinhard

Chief Investment Officer, Multi-Asset Strategies and Solutions at Voya Investment Management.

Amy Vaillancourt

President of Retirement at Voya Financial.

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What they’re saying

“Target-date funds aren't just investment vehicles — they're confidence-building tools.”

— Barbara Reinhard, Chief Investment Officer, Multi-Asset Strategies and Solutions

“Confident participants are engaged participants. They're more likely to increase contributions, stay the course during market volatility and make sound decisions about their retirement timeline.”

— Barbara Reinhard, Chief Investment Officer, Multi-Asset Strategies and Solutions

“What our survey showed is that participants who own TDFs aren't just better invested; they're more confident, less stressed and more engaged in retirement planning.”

— Amy Vaillancourt, President of Retirement

The takeaway

The survey findings highlight the important role that target-date funds play in boosting retirement confidence and engagement among plan participants. For plan sponsors and financial advisors, offering TDFs can be a powerful way to simplify retirement planning and empower participants to take a more active role in securing their financial futures.