The 401(k) Industry Is Growing Up—Fast.
With $12.5 trillion in assets, 100 million+ accounts, and 800,000 plans, 401(k) and 403(b) plans have officially moved from niche to mainstream in the workplace benefits world.
Fueled by state mandates, tax credits, and innovative plan designs like PEPs, the industry is booming. Meanwhile, we’re seeing a shift toward smarter tech, more in-plan retirement income options, and AI-powered tools to help participants make better financial decisions.
But for the industry to truly evolve, it needs:
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Better recordkeeping systems
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Smarter, safer use of data
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Top-tier talent
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A focus on real innovation—not just what’s trendy
Despite mounting legal pressures and increased litigation, there’s growing bipartisan support in Congress to expand access and improve outcomes.
The bottom line? The future belongs to the firms ready to adapt, invest in people and technology, and evolve with the needs of modern plan sponsors and participants.
Read more in Fred Barstein’s latest column: “NAPA Summit Heralds 401(k) Plans Coming of Age”
