Bank of America (including Merrill) Ranks Highest in Digital Experience Satisfaction Among Retirement Plan Websites and Mobile Apps in JD Power Study
- Great employee experience with retirement plan digital channels translates to improved perceptions of employer
- Top-scoring digital experiences drive asset retention, new asset acquisition and advocacy
- Retirement plan mobile apps significantly outperform websites on overall digital experience
TROY, Mich.--(BUSINESS WIRE)--The secret to increased participation and deeper engagement with employer-sponsored retirement plans comes down to one critical factor: seamless, interactive experiences with retirement plan websites and mobile apps. According to the JD Power 2026 U.S. Retirement Plan Digital Experience Study,SM released today, employees with the highest levels of digital experience satisfaction are more likely to have a more favorable view of their employer, as well as to roll over money from other retirement accounts and to keep investments with their existing retirement plan provider, even after they change jobs.
“Getting the retirement plan digital experience right creates a triple win for the provider, employer and employee. Employees are more likely to consolidate assets with the provider, stay invested longer and develop an overall better perception of their employer along the way,” said Mike Foy, managing director of the wealth management practice at JD Power. “Increasingly, providers achieving that level of strong digital engagement find employees spend more time using their tools, and in turn are overall more committed to the retirement investing process and their plan’s brand.”
Following are some key findings of the 2026 study:
- Digital experience drives employee behavior and employer perception: Among employees who rate their retirement plan mobile app experiences highest, which means average overall satisfaction is 801 or higher (on 1,000-point scale), 49% say they have a much better view of their employer after using their retirement account, 50% have rolled over money from other retirement accounts, and 60% say they will leave assets with their current provider in the event of a future job change. In fact, employees who have downloaded their retirement plan’s mobile app are 79% more likely to roll over assets from another provider than those who have not downloaded the app.
- Mobile apps significantly outperform websites: The overall satisfaction score for retirement plan mobile apps is 724, which is 53 points higher than the average overall satisfaction score for retirement plan websites (671). Specific attributes that help apps outperform websites include faster, smoother experiences; better visual appeal and information layout; and the ability to offer more personalized experiences.
- Apps and websites score high marks for security, but struggle with predictive tools: Across both retirement plan mobile apps and websites, security is the highest-performing attribute in the study, suggesting that employees feel comfortable with authentication protocols and overall account security. By contrast, predictive tools is the lowest-performing attribute, indicating there is still work to be done on digital retirement forecasting and planning capabilities.
“The retirement plan digital experience presents a unique set of challenges for employers because, ultimately, their employee satisfaction is being dictated by a third-party provider,” said Jon Sundberg, director of digital solutions at JD Power. “By creating a set of standard industry benchmarks, JD Power analysis makes it possible to objectively gauge which providers are consistently driving the best user experience and which features are resonating most with employees.”
Study Ranking
Bank of America (including Merrill) ranks highest in retirement plan website satisfaction, with a score of 775. Charles Schwab (735) ranks second and Vanguard (723) ranks third.
Bank of America (including Merrill) ranks highest in retirement plan mobile app satisfaction, with a score of 804. Charles Schwab and Fidelity Investments rank second, each with a score of 768.
To view the complete rankings, visit: http://www.jdpower.com/pr-id/2026087.
The U.S. Retirement Plan Digital Experience Study measures customer satisfaction with retirement plan websites, mobile websites and mobile apps across four factors (in order of importance): design, system performance, tools/capabilities and information content. The 2026 study is based on responses of 6,634 retirement plan participants and was fielded from May through July 2026.
For more information about the U.S. Retirement Plan Digital Experience Study, visit https://www.jdpower.com/business/u-s-retirement-plan-digital-experience-study/.
About JD Power
JD Power delivers mission-critical data, analytics and intelligence that help businesses improve customer experience and operational performance with confidence and clarity. Using proprietary, comprehensive data–including millions of consumer interactions and authoritative automotive datasets–combined with advanced analytics, artificial intelligence and deep industry expertise, JD Power enables leaders to respond to market shifts, make smarter decisions and drive measurable performance improvements.
As an objective source of deep insight into real-world customer interactions with brands and products, JD Power provides the independent intelligence organizations need to anticipate change, strengthen customer engagement and advance growth. Learn more at JDPower.com.
Contacts
Media Relations Contacts
Joe LaMuraglia, JD Power; East Coast; 714-621-6224; media.relations@jdpa.com
John Roderick; East Coast; 631-584-2200; john@jroderick.com
