Regulation & Litigation

  • Be aware of the potential for SECURE 3.0, which could expand automatic plan features, require retirement income options and reduce ongoing barriers to entry for savers. 
  • ERISA litigation continues to increase, and plan sponsors must thoroughly document their processes including committee minutes, plan governance structure, third party benchmarking results and ongoing vendor reviews.
  • Plan sponsors should review fiduciary liability insurance to ensure it covers ERISA litigation.  

Compromiso del empleado.

  • A one-size-fits-all approach has proven to be ineffective. Focus on offering personalized education and guidance to participants.
  • Use targeted digital nudges to boost participant engagement, increase deferrals and highlight lesser-known plan benefits.
  • Expand education beyond the retirement program to include broader financial topics helping employees focus on improving their full financial picture.  

Markets & Investments

  •  Be aware of significant ongoing market volatility driven by a mix of economic conditions and geopolitical conflict.
  • Continue to prioritize documented process over performance outcomes in investment selection and monitoring.
  • Consider revisiting target date selection; evaluate how target date managers may or may not include a private investment sleeve and/or a retirement income component.   

Las tendencias que hay que vigilar

  • Consider the potential for how Artificial Intelligence (AI) can both help and hurt employees and employers by streamlining tasks while also complicating the hiring process.
  • Be aware of new savings account options (e.g., Trump accounts) that may compete for your employees’ retirement dollars.
  • Revisit how your organization handles missing participant data and uncashed checks. 

If you’d like to put these recommendations into action for your plan, please contact your PNC Institutional Asset Management representative to continue the conversation.