401(k) plan changes are around the corner. Not because plan sponsors are hoping that new new 401(k) plan changes will fix the company retirement plan; but, because dramatic 401(k) plan changes will be a response to the societal needs of 2023 and beyond.
It is likely that the self-funded retirement savings plans of the future will incorporate more of what we have seen introduced in SECURE 2.0. Continuing down that path the next-gen retirement savings structure is likely to include ALL workers – not just those who choose to participate.
Millions of American workers currently have no retirement plan. Plan sponsors and participants alike are seeing simple solutions to complex problems across our workforce. It is time to think big if we have any chance of solving our retirement savings crisis.
Fred Barstein writes on this very topic and he highlights the convergence of Retirement, Wealth and Benefits at Wealth Management.com.
Get a peek into how the retirement plan of the future will addresses not only participant concerns but also, how it plans to address societal needs.
