It is no secret that many millennials will never have the chance to participate in a defined benefit pension plan. Instead, most millennials will be participants in self-directed defined contribution plans. Are more choices better for millennials? Not necessarily, according to a recent paper published by JP Morgan Asset Management, which looked at millennial retirement plan preferences. The paper revealed that many millennials preferred guidance from experienced investors and even from their own employers when it comes to choosing investments and receiving notifications about not saving enough for retirement. Read more about millennial investment habits here.