NEPC’s Defined Contribution team released its 2025 Defined Contribution (DC) Plan Trends and Fee Survey results today. This is the 20th annual version of the survey, which examines innovations across DC plans and notable shifts in participant behavior.
Respondents to the 2025 survey include 148 clients representing $448 billion in aggregate assets and 3.2 million plan participants. This year’s results reveal a sustained shift toward passive target date funds (“TDFs”), an increase in managed account terminations, continued fee compression, changes in US large cap equity structures, and a selective approach to alternative investments.
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