Despite an overall bullish market outlook, plan participants are becoming more conservative and preferring fixed income choices despite understanding how they work within their portfolio, according to a survey of U.S. workplace retirement plan participants by State Street Global Advisors, the asset management business of State Street Corporation.

Survey respondents were positive about the market and investing; nearly 8 in 10 respondents who invested during the market downturn said they are contributing as much or more now than they did five years ago.

Despite their confidence – the survey found that although investors traditionally invest more aggressively as their optimism increases – 49 percent are currently investing more conservatively than they did five years ago. Only 7 percent of defined contribution investors said they were taking a more aggressive approach.