This will be a good year for retirement plan sponsors to re-evaluate their strategies and adjust to a changing regulatory environment, a new report from WTW, Top investment actions in 2023, has found.
The report said the investment market has fundamentally changed, as the slow winding down of the COVID pandemic, concerns about inflation, and workplace changes such as the "great resignation" continue to disrupt the market.
"These recent developments are having a dramatic impact on the way retirement plans need to be designed, to be managed, and to engage participants in order to remain effective in this new era," the report said. "Plan sponsors and their fiduciary committees should take note of these changes and reevaluate whether their historical objectives and strategy remain relevant in this new environment."
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