The top stories affecting 401(k) and 403(b) plans were dominated by laws, lawsuits and advisor M&A.
No longer in a silo, the economy and societal pressures are causing the defined contribution industry to evolve, somewhat begrudgingly, as retirement in general and DC plans specifically have become sexy with over 10,000 baby boomers retiring every day.
Themes running through the top stories are:
- The explosion of DC plans,
- The convergence of wealth, retirement and benefits at the workplace
- Retirement income
There were no specific eye popping stories about retirement income that made the top 10 such as Empower partnering with outside providers on their Blueprint product or Fidelity opening up its platform to a few retirement income providers because these are just hopeful signs for an industry waiting to be born. The big story will be when we see more robust adoption by plans.
So here are the top 10 stories from 2024 so far:
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