Not much of this year’s tax refunds are expected to go to 401(k) or other workplace retirement savings plans.

A John Hancock Financial survey found 52 percent of workers who are expecting a refund plan to channel the money into a savings account, while 25 percent plan to use refunds to pay down debt.

But only 2 percent said they would direct their refund toward an employer-sponsored retirement plan.

Also read: IRS, Social Security sued over confiscated refunds

Half of the more than 1,000 affluent investors (total assets of at least $100,000) expect to receive a refund. Nearly one in five (17 percent) said they plan to spend it.

Of those planning to spend the cash, 38 percent said the money will go to vacations, down considerably from last year, when 56 percent of respondents said refunds would go to trips.

This year, 20 percent of refund money is expected to go to “basic household needs.” Last year, 13 percent said they would treat themselves to a “luxury item.” Only 5 percent said they will do so this year.

The refund snapshot is a part of John Hancock’s larger 2015 Investor Sentiment Survey.

In its report, investors reported their most positive sentiment in the survey’s five-year existence.

Investor sentiment is gauged by assessing the percentage of respondents who believe it is a “good” or “very good” time to invest.

“There is a belief that 2015 will be a good year for the average investor, with 81 percent saying so vs. 73 percent in the first quarter of 2014,” said Megan Greene, chief economist, John Hancock Asset Management.

Despite the low number of investors saying they will direct tax refunds into retirement accounts, retirement investing was a “strong priority” for respondents, as 80 percent said now was a good time to contribute to their 401(k) plans and IRAs.

Three-quarters said they expect the U.S. economy to be stronger two years from now.

Instant Insights /

401(k)s unlikely to see much of Americans&rsquo; tax refunds

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401(k)s unlikely to see much of Americans’ tax refunds