Taft-Hartley Defined Contribution Study 2026

Helping members pursue a more secure retirement

Taft-Hartley Defined Contribution Study 2026
Fourth edition

Progress is more than a number

Union members are making financial progress, and this year's research provides a broader view of what that progress looks like.

Empower's fourth annual Taft-Hartley Defined Contribution Study combines retirement-plan data from more than 1 million members, with new member research to explore financial confidence, resilience, engagement, and the evolving role of guidance and plan design.

 

Five findings shaping the financial journey

 

Members are making progress

Infographic showing that 73% of members say they are making at least some progress toward their financial goals.

 

Financial confidence stands out

Infographic showing that 44% of Taft-Hartley members are very or extremely confident about their finances, compared with 28% of other Empower plan participants.
Infographic showing that 46% of Taft-Hartley members are confident about achieving their desired retirement lifestyle, compared with 29% of participants across Empower.

 

The millionaire population continues to grow

Infographic showing that Taft-Hartley participants with retirement account balances of $1 million or more more than doubled since 2023, reaching 13,253 in 2026, a 41.2% increase over one year.

 

Engagement can amplify progress

Infographic showing engaged active 401(k) participants have an average retirement balance of $166,000, compared with $58,000 for unengaged participants, or 2.8 times higher.

 

Financial learning is part of the journey

Infographic showing that 29% of Taft-Hartley members cite workplace, union, or financial wellness resources as a primary way they learned to manage money.

 

What can plans do next?

The study identifies considerations for plan sponsors and trustees to help members build on their progress, from creating more personalized pathways to support, and expanding opportunities to save and get help, to starting the retirement-income conversation earlier.

 

Download the full study

View the fourth edition. 2026 Taft-Hartley Defined Contribution Study

All data is as of June 30, 2026, and the Empower Financial Readiness Survey, August 2026, unless otherwise stated.
Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. This material is for informational purposes only and is not intended to provide investment, legal, or tax recommendations or advice. Managed account services are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. Past performance is not indicative of future returns. You may lose money. The research, views, and opinions contained in these materials are intended to be educational; may not be suitable for all investors; and are not tax, legal, accounting, or investment advice.

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