In its fifth survey of U.S. defined contribution plan sponsors, J.P. Morgan Asset Management found that many sponsors are striving to offer expanded benefits and employee wellness programs as part of their DC plans as they increasingly work to strengthen the retirement profiles of their team members.

According to J.P. Morgan's accompanying white paper, "Continued Progress through Partnership," the survey shows that it is vital for sponsors to ensure that their financial wellness offerings continue to evolve as SECURE 2.0 takes root, "just as we have seen advancement and innovation in other areas of retirement benefits design." In addition, sponsors should understand that a proactive approach and customization can help spur more favorable outcomes for plan participants. The demand for retirement income solutions also continues to grow for both participants and sponsors and seems poised to be a priority going forward, according to the paper.