Plan sponsors need to be aware of the impact of the adoption of target date funds as the default investment option in plans and make decisions accordingly, according to a new report.

"Our strategy is to send a message to other insurance companies that they have an obligation to pay under those statutes," said Steven Adler, a partner at Mandelbaum Barrett.

Without preparation, companies could flub the next few years, putting office use into even more confusion.

Companies need to highlight benefits offerings, provide attractive growth opportunities, and offer built-in flexibility that's largely become an expectation among candidates.