Home

Instant Insights / 2023 Predictions

Industry thought leaders share their predictions for 2023.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
robot placing money in piggy bank (Photo: Shutterstock)

2022 was certainly an eventful year for retirement savers. As participants adjusted to a “new normal” amidst the COVID-19 pandemic, 2022 brought additional uncertainty, record inflation, and a market downturn. But not everything was doom and gloom. Participants continued to make meaningful progress against their retirement goals, and Washington further improved Americans’ ability to save for retirement, including the IRS’ decision to increase plan contributions and the anticipated passage of SECURE 2.0.

But more work needs to be done to make sure participants are maximizing the benefits of their retirement plans. With defined contribution plans now being the preferred retirement savings vehicles for American workers, the responsibility for the effective management of one’s retirement savings now falls on the individual. Millions of people now act as their own chief investment officer and financial planner for their retirement portfolio. And while the benefits of the shift from defined benefit to defined contribution plans cannot be overstated, research shows that more participants than ever need help saving for retirement.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.